LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global oxidative stress assay market for pharmaceutical industry to grow at a CAGR of over 8% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the increased adoption of precision medicine as one of the key emerging trends in the global oxidative stress assay market for the pharmaceutical industry. Precision medicine has the potential to bring about a fundamental change in the healthcare industry, where an understanding of diseases and precise patient data are used to develop medicines as per the needs of an individual rather than the entire population. It also helps manufacturers deliver effective drugs at low costs, which reduces their operational costs and increases profit margins.
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In this report, Technavio analysts highlight the increasing investments in drug discovery as a key factor contributing to the growth of the global oxidative stress assay market for the pharmaceutical industry:
Increasing investments in drug discovery
Oxidative stress in cells reflects the imbalance in the production of free radicals, and the ability of the cell to detoxify their harmful effects by neutralizing these free radicals. Introduction of antioxidants to cells can help achieve neutralization of free radicals. The antioxidants donate a free electron to these free radicals, thereby neutralizing their effect on cells. Pharmaceutical companies have invested highly in developing drugs that can act as antioxidants by studying the reaction of compounds in the presence of free radicals and the immune response of cells to the damage caused by free radicals. Oxidative stress assays help in the drug discovery process of synthetic antioxidants.
According to a senior analyst at Technavio for lab equipment, “Factors such as the growing prevalence of chronic diseases and various lifestyle diseases are driving the need for new drug discovery. Several pharmaceutical companies strategically invest in drug discovery processes to develop new drugs and meet the demand for branded and generic drugs in the market. Therefore, while developing these new drugs, various pharmaceutical ingredients are used, and pharmaceutical processes like oxidative stress assays are followed by pharmaceutical companies.”
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Global oxidative stress assay market for the pharmaceutical industry – segmentation analysis
This market research report segments the global oxidative stress assay market for pharmaceutical industry into the following products, including consumables, instruments, and services and key regions, including the Americas, APAC, and EMEA.
Of the three major products, the consumables segment held the largest market share in 2017, accounting for nearly 45% of the market. The market share for this product is expected to increase by 2022. The fastest growing product is services, which will account for nearly 26% of the total market share by 2022.
The Americas was the leading region for the global oxidative stress assay market for pharmaceutical industry in 2017, accounting for a market share of nearly 39%. By 2022, APAC is expected to register the highest growth rate.
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