CHICAGO, April 13, 2021 /PRNewswire/ -- According to the new market research report "Oxidative Stress Assay Market by Product (Consumable, Instruments, Kits, Services), Test Type (Indirect, nucleic acid, Glutathione, ROS), Technology (ELISA, Chromatography), Diseases (CVD, Oncology) End Users (Pharma & Biotech) - Global Forecasts to 2025", published by MarketsandMarkets, the Oxidative Stress Assay Market is projected to reach USD 1326 million by 2025 from USD 836 million in 2020, at a CAGR of 9.7%.
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The growth of this market is mainly driven by growth in 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. On the other hand, the high cost of instruments and shortage of trained and qualified personnel are the major factors restraining the growth of this market.
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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North America will continue to dominate the oxidative stress assay market during the forecast period
On the basis of region, the market has been segmented into four major regions, namely, North America, Europe, the Asia Pacific, and Rest of the World. In 2020, North America accounted for the largest share of the market. The large share of North America can be attributed to the increasing geriatric population, increasing number of cardiovascular disease patients, and the presence of prominent players in the region.
Major players operating in the oxidative stress assay market include Abcam, plc (UK), Enzo Biochem, Inc. (US), Merck KGaA (Germany), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, 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), Kamiya Biomedical Company (US), MEGA TIP San.Tic.Ltd.Sti. (Turkey), ImmunoChemistry Technologies, LLC (US), Genox Corporation (US), and Toxys B.V. (Netherlands).
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