The major factors driving the growth of the HTS market include initiatives undertaken by pharmaceutical and biotechnology companies, increasing R&D spending, technological advancements in HTS, and the availability of government funding and venture capital investments.
The High Throughput
Screening Market is expected to reach USD 29.29 billion by
2027 from an estimated USD 14.95 billion in 2019, at a CAGR of 7.8%.
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On the
basis of product and service, the reagents & assay kits segment accounted
for the largest share of the global HTS market. The large share of this segment
can be attributed to factors such as the large numbers of reagents and assay
kits used in HTS techniques, rising prevalence of a number of diseases,
increasing pharmaceutical R&D, and increased government funding for life
science research.
Based on technology, the HTS market is segmented
into cell-based assays, lab-on-a-chip (LOC), ultra-high-throughput screening
(uHTS), label-free technology, and bioinformatics. In 2018, the cell-based
assays segment accounted for the largest share of the HTS market. The large
share of this segment can be attributed to its increased use in cell culture
techniques, especially 2D cell culture.
Based on end user, the pharmaceutical and
biotechnology companies segment accounted for the largest share of the HTS
market. Factors such as the increasing use of HTS techniques by pharmaceutical
and biotechnology companies for drug discovery applications along with the
increasing pharmaceutical R&D expenditure are driving the growth of this
segment.
North America accounted for the largest share
of the HTS market in 2018, followed by Europe and Asia Pacific.
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The
prominent players in the global HTS market are Agilent (US), Danaher (US),
Thermo Fisher Scientific (US), PerkinElmer (US), Tecan (Switzerland), Axxam
(Italy), Merck Group (Germany), Bio-Rad (US), Hamilton (US), Corning (US),
BioTek (US), and Aurora Biomed (Canada).
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