Free radicals can be introduced owing to biological aspects, unhealthy dietary habits, and air pollution. This, in confluence with the growing number of individuals who smoke and consume alcohol, is increasing the risk of developing oxidative stress, which, in turn, is strengthening the market growth. Apart from this, the advancement of several pathologic conditions and acceleration of the aging procedure on account of oxidative stress is also fostering the market growth. In addition, the increasing biopharmaceutical industry, growing investments in research and development (R&D) activities, and technological innovations, such as high-content screening for drug discovery, are functioning as other foremost aspects growing the market growth.
Moreover, oxidative stress is also being considered as a foremost aspect of underwriting to the severity of the coronavirus disease (COVID-19). It is also being evaluated as the probable reason for multi-organ failure among patients. The ongoing studies on the interrelation between the disease and oxidative stress are predicted to positively propel the market growth.
According to the SPER market research, ‘Oxidative Stress Assays Market Size, Share & Trends Analysis By Product, By Test Type, By Technology, By Disease Type, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states that the oxidative stress assays market is predicted to reach USD 1898 million by 2030 with a CAGR of 8.6%. The growing prevalence of chronic and lifestyle disorders has led to the growth of biopharmaceutical and biotechnology companies which is further fostering the growth of the oxidative stress assays market.
One of the foremost reasons projected to foster the growth of the oxidative stress assay market is the biopharmaceutical and biotechnology sectors’ speedy expansion, together with the augment in chronic diseases. Six out of ten adults across the United States have a chronic disease, and four out of ten individuals have two or more, according to a report released by the Centres for Disease Control and Prevention (CDC) in 2020. Owing to the effectiveness and accuracy of oxidative stress assays, the increasing prevalence of chronic disease raised the requirements for these tests.
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Growth in the oxidative stress assay market is accredited to aspects such as the biopharmaceutical industry and growing public-sector funding for academic research. Other essential aspects aiding the growth of this market involve technological innovations such as HCS for drug discovery, growing research & development expenditure in the biotechnology and pharmaceutical industries, and government assistance for the pharmaceutical and biotechnology industries.
The ever-growing requirement from the biopharma and biotechnology companies in this region is predicted to propel the growth of the oxidative stress assay market in North America. In addition, the increment in the implementation of technologically improved equipment and the existence of more experienced professionals is predicted to foster market growth in this region. Also, the growing launches of new products by biopharma companies is an underwriting aspect of the growth of the market as oxidative stress assays play a crucial role in biopharmaceutical introduction.
Nonetheless, an upsurge in investment in research and development in the biotechnology segment in the United States is the foremost underwriting aspect of the growth of the oxidative stress assay market in this region.
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SPER Market Research