Global Adenosine Triphosphate Test Kit Market Size, Tends & Analysis - Forecasts to 2026 By End-User Outlook [Food & Beverage, Hospitality, Healthcare, Water Treatment, Others], By Test Type [First Generation Testing, Second Generation Testing], By Test Platform [Surface Tests, Liquid Tests], By Application [Control biological treatment, Guide biocide dosing programs, Determine drinking water cleanliness, Manage fermentation processes, Assess soil activity, Determine corrosion / Deposit process type, Product sanitation], By Component [Instrument, Luminometer, Bioluminescence Chemistry, Test Device Design], By Region (North America, Europe, Asia Pacific, CSA, MEA); Vendor Landscape, End-User Landscape, and Company Market Share & Competitor Analysis
Global Adenosine Triphosphate Test Kit Market Insights:
The global adenosine triphosphate test kit market is expected to generate revenue amounting to USD 6.18 billion in 2020, and is projected to reach to USD 7.98 billion by 2026, growing at a CAGR of 4.36% over the forecast period. Adenosine Triphosphate is the energy carrier for bacteria, algae and vegetables among others. The level of concentration of ATP in a particular sample is a direct measure of the biological concentration and health. Rapid growth in the healthcare and food & beverage industry is one of the important factors expected to drive the market growth during the forecast period. Increased awareness amongst the population regarding various benefits of the maintaining proper hygiene and sanitation are also driving the market growth for adenosine triphosphate test kits.
Increased investments and innovations in the hygiene monitoring system by major market players are anticipated to drive the market growth. Growing food and nutraceutical export businesses are expanding international food quality and safety standards. Increased outbreaks of food borne illness and globalization in food & beverage trade are some of the major factor influencing the growth of adenosine triphosphate test kit market. Growing healthcare and food & beverage industries across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of adenosine triphosphate test kit. However, high cost coupled with lack of know-how of the product is expected to restrain market growth during the forecast period.
Global Adenosine Triphosphate [ATP] Test Kit Market Size: By Segmentation
The global ATP test kit market can be classified on the basis of test platform into surface tests and liquid tests. The market for surface tests is expected to dominate the market share in terms of both value and volume. Positive government outlook to support adenosine triphosphate test kit in emerging markets coupled with the introduction of adenosine triphosphate test kit mandates across the globe is expected to propel the market growth.
On the basis of test component, the market is segmented into instrument-luminometer, bioluminescence chemistry, and test device design. The Instrument-luminometer segment is expected to dominate the market in terms of both volume and value. The growth of the market can be attributed to various properties coupled with the increased usage of the product in the ATP test kit to detect and monitor the germs, and bacteria among others.
On the basis of application, the market can be segmented into control biological treatment, guide biocide dosing programs, determine drinking water cleanliness, manage fermentation processes, assess soil activity, determine corrosion/deposit process type, and product sanitation. Product sanitation is expected to dominate the market share in terms of both value and volume. This growth can be attributed because of multiple factors such as increased consumer awareness, and stringent government regulations. Other factor such as increased applicability in wide range of industry verticals such as hospitals, healthcare, and food & beverage industry among others is expected to spur the growth of market during the forecast period.
On the basis of end user platform, the market is segmented into, food & beverage, hospitality, healthcare, and water treatment among others. The healthcare segment is expected to hold the largest market share in terms of revenue during the forecast period. This growth can be attributed to the increased incidence of HAIs (Hospital Acquired Infections) in both developed and developing economies.
Global Adenosine Triphosphate Test Kit Market Size: By Region
On the basis of region, the market of adenosine triphosphate test kit is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to dominate the market and is also estimated to expand at a rapid pace during the forecast period. The growing healthcare sector and investments in the region is driving the market growth. Stringent government rules and regulatory guidelines are some of the other factors boosting the market growth of ATP testing in the region. Increasing number of surgeries is one of the major factors boosting the market demand for ATP testing. The U.S. is anticipated to dominate the market for ATP test kits due to the availability of key manufacturers and advanced healthcare facilities.
Global Adenosine Triphosphate Test Kit Market – Competitive Landscape
The major companies profiled in the Adenosine Triphosphate (ATP) Test Kit Market include Hygiena, 3M, Charm Sciences, Kikkoman Biochemifa, Neogen, Ecolab, The Hygiene Company, Thermo Fisher Scientific, Merck Millipore, Lumin Ultra, Hach, among others. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to enhance their competitive position.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2018, Thermo Fisher Scientific signed an agreement to acquire Advanced Bioprocessing, one of the subsidiaries of BD (Beckton, Dickinson and Company) for USD 447 billion. The business is set to be integrated into Thermo Fisher’s Life Science Solutions segment.
In June 2018, Thermo Fisher Scientific launched a new research centre in the U.S. namely, Precision Medicine Science Centre to support the development of analytical workflow to produce precise molecular profile of patients.
In March 2017, the company announced that they have acquired Scott Safety from Johnson Controls for USD 2 billion to enhance the personal safety offerings, the company specializes in designing, manufacturing and sale of high performance respiratory protection.
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The global adenosine triphosphate (ATP) test kit market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the adenosine triphosphate (ATP) test kit market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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