Market Trends of Global Oxidative Stress Assay Industry
This section covers the major market trends shaping the Oxidative Stress Assay Market according to our research experts:
The Pharmaceutical and Biotechnology Industries Segment is Expected to Hold a Major Market Share in the Oxidative Stress Assay Market.
By end user, the pharmaceutical and biotechnology industries segment is anticipated to garner the largest share of the market. The sudden outbreak of COVID-19 has increased the demand for oxidative stress assays as these products play a major role in the research and development of the pharmaceutical and biotechnology industries. The surge in research and development investments in the pharmaceutical and biotechnology industries is expected to boost the segment's growth since oxidative stress assays are widely used in the product development process. For instance, the data published by the Organisation for Economic Development and Co-operation (OECD) in 2021 reported that research and development investment intensity in the pharmaceutical and biotechnology sectors in the United States surpassed the 3% milestone, while in China it was 2.1% to 2.2% from the past year. The report also stated that Europe experienced a more modest increase of 2.1 percent in research and development expenditure.
Additionally, the approval of products by the regulatory authorities and the launch of newer products are also contributing to the growth of the segment. For instance, in June 2022, AMSBIO expanded its range of antibodies, biomarkers, and assay kits related to free radicals (ROS and RNS), non-radical reactive derivatives (or oxidants), and antioxidants for researchers investigating the mechanism of oxidative stress.
Considering these factors, the pharmaceutical and biotechnology industry segment is expected to hold the major market share as they employ a significant number of oxidative stress assay products for the R&D of newer disease diagnoses.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The ever-increasing demand from biopharma and biotechnology companies in this region is expected to drive the growth of the oxidative stress assay market in North America. Moreover, the increase in the adoption of technologically advanced equipment and the presence of more experienced professionals is expected to propel the market growth in this region. Also, the increasing launches of new products by biopharma companies is a contributing factor to the growth of the market as oxidative stress assays play a crucial role in biopharmaceutical production.
Additionally, an upsurge in investment in research and development in the biotechnology sector in the United States is a major contributing factor to the growth of the oxidative stress assay market in this region. For instance, California-based Amgen Inc. invested heavily in its research and development activities and its expenditure for research and development was USD 4.8 billion, USD 4.2 billion, and USD 4.1 billion for 2021, 2020, and 2019, respectively.
Additionally, the strategic initiatives taken by the market players are also propelling the growth of the market. For instance, in July 2021, ImmuchromGmbH signed a partnership agreement with Ilex Life Sciences for North American distribution of gastrointestinal biomarker assays. Immuchrom is a German developer and manufacturer of HPLC applications, photometric assays, and immunoassays, specializing in areas of gastrointestinal disease, the cardiovascular system, oxidative stress, and calcium and bone metabolism. Such initiatives are also boosting the growth of the market.
Thus, considering all these factors, North America is expected to hold a major share in the oxidative stress market.
