Oxidative Stress Assay Market - Industry-Specific Opportunities and Trends Affecting the Growth

MarketsandMarkets™ Research Report's View on Revenue Impact?

The for oxidative stress assay is expected to grow from USD 836 million in 2020 to USD 1,326 million by 2025, at a CAGR of 9.7% during the forecast period.

Factors Responsible for Growth and In-Depth Analysis?

The Growth in the oxidative stress assay market is attributed to factors such as the biopharmaceutical industry and increasing public-sector funding for academic research. Other important factors aiding the growth of this market include technological advancements like HCS for drug discovery, increasing R&D expenditure in biotechnology and pharmaceutical industries, and government support for pharmaceutical and biotechnology industries.

The global biopharmaceuticals market was valued at ~USD 275 billion in 2018 and is estimated to grow at 12-13% annually (Source: 16th Annual Report and Survey of Biopharmaceutical Manufacturing, April 2019). Similarly, the global pharmaceutical market is expected to grow over USD 1.5 trillion by 2023 from the USD 1.2 trillion of 2018, at an annual growth rate of 3-6% (Source: The Global Use of Medicine in 2019 and Outlook to 2023).

A similar growth trend is observed in the biotechnology industry. For example, companies in biotech centers such in the US registered over USD 112 billion in revenue and had a total market capitalization of ~USD 700 billion in 2018. Currently, more than 130,000 people are employed by public biotechnology companies in the US (Source: biotecnika.org, January 2020). According to OECD estimates, in 2018, the total number of biotechnology companies that were active in the US was 2,470. In France, another major biotech market, this number was 2,083.

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Leading Key Players and Analysis:

The major players in the oxidative stress assay market are Merck KGaA (Germany), Thermo Fisher Scientific, Inc (US), and QIAGEN N.V. (Netherlands). These companies together accounted for a share of approximately 60% of the oxidative stress assay market in 2019. Other players in the market include Abcam, plc (UK), Enzo Biochem, Inc. (US), AMS Biotechnology (Europe), Ltd. (UK), BioVision, Inc. (US), Cell Biolabs, Inc. (US), Oxford Biomedical Research (US), Promega Corporation (US), Cayman Chemical (US), Eagle Biosciences, Inc. (US), Arbor Assays (US), Hycult Biotech (Netherlands), Callegari SRL (Italy).

Geographical Analysis in Detailed?

North America accounted for the largest share of the oxidative stress assay market in 2020, while the Asia Pacific market is expected to register the highest growth during the forecast period

The oxidative stress assay market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest share of of the global oxidative stress assay market in 2020. However, the Asia Pacific market is expected to register the highest CAGR during the forecast period.

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Industry Segmentation:

The consumables segment accounted for the largest share of the oxidative stress assay market, by product, in 2020.

On the basis of product, the oxidative stress assay market is segmented into consumables, instruments, and services. Consumables is the largest and fastest-growing segment, in 2020. This segment is also projected to register the highest CAGR from 2020 to 2025. The recurring requirement of consumables as compared to instruments is the key factor driving the growth of this segment.

Pharmaceutical and biotechnology companies to grow at the highest CAGR in the oxidative stress assay market during the forecast period

The major end users of oxidative stress assays include academic research institutes, clinical laboratories, contract research organizations (CROs), pharmaceutical and biotechnology companies, and the cosmetic industry. Pharmaceutical and biotechnology companies are the largest end users of oxidative stress assays. These assays are widely used by pharmaceutical and biotechnology companies for the toxicity testing of drugs.

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