The global high-throughput screening (HTS) market is expected to grow at a CAGR of 11.6% during the forecast period. The growth of this market is driven by increasing R&D spending in the HTS market. Increased R&D spending can serve as a driving force for the HTS market due to expanded drug discovery efforts, a focus on personalized medicine, technological advancements, and collaborative research efforts.
The report High-Throughput
Screening (HTS) Market is projected to reach
USD 44.5 billion by 2028 from USD 25.7 billion in 2023, at a CAGR of 11.6%
during the forecast period of 2023 to 2028.
Download PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=134981950
Key Market Drivers: -
1.1 Growing adoption of open innovation models in
pharmaceutical & biotechnology companies
1.2 Government funding and venture capital investments
1.3 Increasing R&D spending
1.4 Technological advancements
Market Segmentation: -
On
the basis type of product & service, the high-throughput screening market
is broadly segmented into consumables, instruments, services, and software. In
2022, consumables accounted for the largest share of the high-throughput
screening market. This can primarily be attributed to the wide use of reagents
& assay kits in HTS techniques, increasing pharmaceutical R&D, and
rising government funding for life sciences research.
Based
on application, the high-throughput screening market is categorized into drug
discovery, biochemical screening, life sciences research, and other
applications. The drug discovery application segment accounted for the largest
share of the high-throughput screening market in 2022. The key factor driving
this segment's growth is the increasing number of clinical trials and rising
pharmaceutical R&D expenditure.
Regional Analysis: -
Geographically,
the high-throughput screening market is segmented into North America, Europe,
Asia Pacific, Latin America and Middle East & Africa. In 2022, North
America accounted for the largest share of the high-throughput screening
market, followed by Europe and Asia Pacific. The large share of North America
in the global market is attributed to the increasing prevalence of diseases,
rising pharmaceutical R&D expenditure, and the presence of major players in
the region are factors driving the growth of the HTS market in this region.
Market
Opportunity: -
Emerging
markets like China, India, and Brazil have experienced rapid expansion in the
life science and biotechnology sectors in recent years. These regions have a
significant pool of talented researchers, physicians, and scientists who are
actively pursuing research in these fields. Additionally, government
initiatives in emerging markets play a crucial role in promoting the adoption
and development of HTS technologies. Governments can establish regulatory
frameworks and guidelines to ensure the safe and ethical use of HTS
technologies.
Recent Developments of High
Throughput Screening Industry
- In February 2023,
Agilent Technologies, Inc. launched the on-deck thermal cycler that
integrates with the Agilent Bravo NGS automated liquid handling platform.
- In February 2023,
PerkinElmer Inc. launched the Multimode Plate Reader for high-throughput
screening (HTS) applications and to accelerate drug discovery efforts.
Request for Sample Pages: - https://www.marketsandmarkets.com/requestsampleNew.asp?id=134981950
Top Key Players: -
Key
players in the high-throughput screening (HTS) market include Thermo Fisher
Scientific, Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany),
Danaher Corporation (US), PerkinElmer, Inc. (US), Tecan Trading AG
(Switzerland), AXXAM S.p.A (Italy), Promega Corporation (US), Bio-Rad
Laboratories, Inc.(US), Promega Corporation (US), Hamilton Company (US),
Corning Incorporated (US), Charles River Laboratories (US), Lonza
(Switzerland), REPROCELL Inc. (Japan), Aurora Biomed (Canada), BMG LABTECH (Germany),
DIANA Biotechnologies, s.r.o. (Czech Republic), NanoTemper Technologies GmbH
(Germany), Creative Biolabs (US), Biomat Srl (Italy), HighRes Biosolutions
(US), Cyclica Inc. (Canada), Crown Bioscience (US), and Sygnature Discovery
(UK).
No comments:
Post a Comment