LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global oxidative stress detection market is expected to grow at a CAGR of more than 9% during the forecast period.
This research report titled ‘Global Oxidative Stress Detection Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
The primary end-user of oxidative stress detection is the pharmaceutical industry, which is expected to grow at a steady pace, thereby leading to a rise in demand for oxidative stress detection kits. Another area of importance for oxidative stress detection is healthcare diagnostics, which has been improving its infrastructure and gaining importance since 2010 in most countries.
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The report categorizes the global oxidative stress detection market into three major end-user segments. They are:
- Pharmaceutical industry
- Research institutes
Global oxidative stress detection market in pharmaceutical industry
The pharmaceutical industry was not only the largest end-user segment of the oxidative stress detection market but also one of the fastest-growing end-user segments, second only to research institutes. The increase in investments in the pharmaceutical and healthcare sectors is expected to drive the growth of this segment during the forecast period.
The increasing number of sub-contract laboratories, especially in the pharmaceutical sector, is likely to lead to a rise in demand for oxidative stress kits. The majority of the demand for oxidative stress detection between 2015 and 2020 is likely to originate from emerging APAC nations, particularly Singapore, South Korea, and Taiwan, as well as South and Central American countries.
Global oxidative stress detection market in research institutes
By 2020, research institutes will constitute the fastest-growing segment and will overtake the pharmaceutical industry as the largest end-user of oxidative stress detection offerings by the end of 2021.
Research institutes include government and privately funded institutes and universities. The demand from research institutes will rise during the forecast period, particularly in South America and APAC, with an increase in the number of research laboratories and large investments in R&D. The increase in the number of research institutes in Eastern Europe, Latin America, and APAC is also a driver of growth for this market. As of 2014, there were over 7,500 universities in the world, of which 1,100 were research institutes. According to Amber Chourasia, a lead analyst at Technavio for lab equipment research, “The increasing number of research institutes and the emphasis on research and breakthrough developments in different fields will ensure the growth of this end-user segment during the forecast period.”
Global oxidative stress detection market in other end-user segments
Other end-users of oxidative stress detection offerings include clinical laboratories, healthcare and diagnostic centers, and the food and beverage industry.
In 2015, among the industries included in this segment, the largest contributor was the healthcare industry, followed by the food and beverage industry. The increase in the number of healthcare facilities as well as diagnostic and testing facilities, especially in APAC, will be the primary growth driver for this market during the forecast period. “With the global healthcare sector likely to grow at 5.4% CAGR between 2015 and 2020, and global healthcare spending on the rise, the demand for oxidative stress detection solutions is expected to rise steadily during the forecast period,” says Amber.
The increasingly stringent food processing and safety norms have led to tighter control over testing the quality and content of processed and packaged food, where oxidative stress detection is largely used. The process is also used to study the effect of each ingredient on the human body. The rise in demand from this end-user segment is likely to originate from North America and Western Europe, where food and safety norms are much more stringent.
The top vendors highlighted by Technavio’s research analysts in this report are:
- EMD Millipore
- Thermo Fisher Scientific
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