Global High Throughput Screening Market Expected To Reach US$ 24.4 Bn By 2026
The latest market report published by Brisk Insights “High Throughput Screening Market: Growth, Future Prospects, and Competitive Analysis, 2018 - 2026” the global high throughput screening market was valued at US$ 13.2 Bn in 2017 and expected to reach US$ 24.4 Bn by 2026 at a CAGR of 7.1% during the forecast period from 2018 to 2026.
Market Insights
The global high throughput screening (HTS) market shows lucrative growth during the forecast period from 2018 to 2026, attributed to increasing demand for advanced HTS in pharmaceutical & biotech industry. The gradual shift from manual to automated systems along with integrated systems and high-end liquid handling software is growing significantly. HTS uses automated systems, sensitive detectors, and microfluidics to permit researchers rapidly perform millions of assays to determine the targeted drugs of large compound libraries of usually 100,000 compounds. Enhancement in robotic systems with superior workflow solutions for HTS will traction globally. HTS encompasses numerous steps such as reagent preparation, target identification, assay development, compound management, and library screening. HTS procedures also used to distinguish pharmacokinetic, metabolic, and toxicology detection data for new molecules and thus eventually reduces the overall cost of drug development.
New technology assessment in high throughput screening for discovery, increase in manufacturing and expansion of services to pharmaceutical firms, contract research organizations and universities are driving the market growth globally. Manufacturing of top HTS systems with high-end costs such as ultra high throughput screening (uHTS) and other standalone-automated systems will further spur revenue growth during the forecast period. The cell-based assay in the application segment is leading the global market owing to its high adeptness along with wide usage, mainly pharmaceuticals & biotechnology firms. Moreover, increasing R&D expenditure in developing nations along with government funding and advancements in HTS procedures will gain a significant share in the coming years. Major external factors include expansion of research facilities with top quality systems, acquisitions, and partnerships with small-scale HTS providers is generating significant revenue share globally. Additionally, novel cell culture approaches such as 3D cultures and miniaturization of the HTS platforms along with the utilization of bioinformatics, lab-on-a-chip, and label-free technology will drive market growth globally. Manufacturers are also focusing on providing data-rich software, custom engineering solutions with enhanced workflow solutions.
Browse the full report at: https://www.briskinsights.com/report/high-throughput-screening-market
However, the high cost of advanced and automated HTS, less investment in R&D regulations for clinical usage & testing of drugs, less awareness and lack of skilled professionals in the developing nations are few factors limiting the growth of the high throughput screening market globally. Other factors comprise the scarce availability of robotic systems, complexity in data management software and economic slowdown are few limitations affecting the overall growth of the HTS market globally.
Key Market Movements:
• Globally, the high throughput screening market remains to exhibit a profitable growth with a CAGR of 7.1% for the period from 2018 to 2026
• Higher technology advancement in the automation process for HTS is gaining traction in the market
• Asia Pacific, Latin America, and Eastern Europe to show promising opportunities during the forecast period owing to increasing adoption of advanced automated systems with high-end workflow stations
• Growth of enhanced applications in the drug discovery platforms, accessibility of branded systems for primary & secondary screening, and increasing usage in biotechnology & pharmaceutical industries will contribute to the growth of the market
• Major players in this vertical are Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Agilent Technologies, Inc., Tecan Group Ltd., Aurora Biomed, Perkinelmer, Inc., Sigma Aldrich Corporation, Axxam Spa, Hamilton Company, Aurora Biomed, Inc., Danaher Corporation, Beckman Coulter Inc., GE Healthcare and others.