The global high-throughput screening (HTS) market is expected to grow at a CAGR of 11.8% 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 Market is
projected to reach USD 50.2 billion by 2029 from USD 28.8 billion in 2024, at a
CAGR of 11.8% during the forecast period of 2024 to 2029.
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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 2023, 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
October 2023, Revvity Inc. (US), collaborated with SCIEX, a subsidiary of
Danaher Corporation (US), to develop mass spectrometry solutions for newborn
screening.
·
In
May 2024, Bio-Rad Laboratories, Inc. (US) launched three new StarBright Red
Dyes—StarBright Red 715, 775, and 815—providing greater choice and flexibility
in conventional and full-spectrum multicolor flow cytometry panels.
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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).
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