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 a large number of 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 High throughput screening 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.
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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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.
High throughput screening Market Regional 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
High throughput screening Market Players
With the presence of numerous large and small market players; the global market of high-throughput screening appears to be highly fragmented.
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.
among others are some key companies in the global High throughput screening that are listed by MRFR for market research.
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