High Throughput Screening Market Overview
High throughput screening (HTS) is a drug discovery process generally utilized in the pharmaceutical companies to influence the mechanization that can rapidly examine the natural or biochemical action of an expansive number of medications. Since HTS allows assaying of many potential biological modulators against a chosen set of defined targets, it has acquired the status of a popular approach to the target validation.
Over the past few years, the HTS market is growing pervasively mainly due to the burgeoning pharmaceutical industry and the widening adoption of the HTS in the drug discovery. Furthermore, the increasing per capita health care expenditures, backed by the improving economic conditions, worldwide, are escalating the market on the ascended heights, increasing the demand for the quality healthcare treatments.
According to a recent study report published by Market Research Future (MRFR), the global market for high throughput screening is expected to grow at a significant rate of CAGR during 2017 – 2027 (forecast period), valuing extravagantly over its previous growth records by the end of the forecast period.
Soaring Investments in the healthcare sector and the shift towards high throughput research propels the growth of the global high throughput screening market. The market is largely driven by target identification & validation, efficacy & safety screening, and monitoring of cell-based activity.
Additional factors supporting the market growth include the huge uptake of open innovation models by pharmaceutical companies, substantiating the use of high-throughput screening, rising drug discovery initiatives by academic and government institutions, boosting the demand for HTS products, and increasing capital investments in high-throughput screening technology by major firms
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Global High Throughput Screening Market – Segments
The MRFR analysis is segmented into four key dynamics for the convenience of understanding.
- By Product Type: Software, Instruments, and Consumables among others.
- By Application: Target Identification, Primary Screening, Toxicology, and Stem Cell Biology, among others.
- By End-user: Hospitals, Clinics, Pharmaceutical Companies/ Manufacturers, Government Organizations, and Research Facilities among others.
- By Region: North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
The subsegment Instruments by product types is expected to witness significant growth in demand due to its increasing use in drug discovery processes, superior performance, and reduced system cost.
Owing to the extensive use of the HTS technology in pharmaceutical and biotechnology companies for drug discovery applications, the subsegment pharmaceutical, and biotechnology companies acquired the largest share in the global HTS market, by end users.
Global High Throughput Screening Market – Geographical Analysis
Globally, the North America region is the largest market for high throughput screening. Owing to the demanding research and development initiatives, the market is expected to grow at a significant rate of CAGR throughout the forecast period, creating a large revenue pocket by 2027. Factors substantiating the market growth include high healthcare expenditures and substantial investments in the R&D activities for medicine discovery.
Europe accounts for the second-largest market for high throughput screening which is expected to grow at a considerable CAGR during the forecast period. Favorable government support and initiatives drive the growth in the market extensively. The rapidly growing pharmaceutical sector in the region, backed by the resurging economy is fostering the market growth brilliantly.
Whereas, the Asia Pacific HTS market is growing rapidly, emerging as one of the lucrative markets, globally. Countries in the Asian region especially provide immense growth opportunities for the high-throughput screening market, accounting over half of the world’s total population. Furthermore, private equity firms and venture capitalists are increasingly investing in the HTS market in countries such as India, China, and Japan.
Global High Throughput Screening Market – Competitive Landscape
With the presence of numerous large and small market players; the global market of high-throughput screening appears to be highly fragmented.
Key Players
The market leaders profiled in the MRFR analysis include
Beckman Coulter, Inc., Aurora Biomed Inc., Agilent Technologies Inc., Luminex Corporation, Life Technologies Corporation, Roche, Bio-Rad Laboratories, Sigma-Aldrich Corporation, and Thermo Fisher Scientific, Inc.
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