High Throughput Screening (HTS) Market Size Worth USD 35.03 Billion...

High Throughput Screening (HTS) Market Size Worth USD 35.03 Billion By 2028

Posted 2024-01-19 07:19:24

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Market Summary

In 2022, the global High Throughput Screening (HTS) market reached a size of USD 19.11 Billion, with a projected rapid revenue Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period. The surge in the pharmaceutical sector, technological advancements, and increased health awareness contribute significantly to the market's revenue growth. HTS, a widely used drug discovery procedure, employs automation to swiftly analyze the biochemical or biological activity of a large number of compounds. It utilizes automation, big dataset processing, and robotics for biological activity assays, target identification, biological screening, protein stabilization, drug discovery, and organismal-based screening, leading to a growing demand for HTS facilities worldwide.

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Moreover, the market experiences momentum due to significant investments, product launches, innovative initiatives, mergers, acquisitions, and collaborations by key industry players. For instance, Bruker introduced the timsTOF MALDI PharmaPulse on February 7, 2022, with a focus on delivering unprecedented High-Throughput Screening (HTS) information content.

The COVID-19 pandemic has underscored the importance of discovering new drugs to combat the virus, amplifying the role of HTS. The competitive landscape is highly competitive, with local companies emphasizing cost reduction and innovation, while global entities pursue growth strategies through collaborations and partnerships. On January 31, 2023, Charles River Laboratories announced the acquisition of SAMDI Tech, aiming to enhance HTS capabilities and drive global market revenue growth.

Market Dynamics:

Driver: Prevalence of critical diseases and technological advancements in pharmaceutical sector The rising prevalence of critical diseases, especially heart diseases, is fueling the need for new drugs, driving global market revenue growth. Collaboration between key players, such as Molecular Devices partnering with HeartBeat.bio on September 12, 2022, for scaling and automating cardiac organoids, contributes to the increasing demand for screening facilities.

Restraint: Costly equipment used for HTS process While HTS offers advantages like detecting hits with low activity, the significant cost of equipment and the potential for false positives hinder its widespread use. This limitation, coupled with the expense of equipment, poses a restraint on market revenue growth.

Product and Services Insights:

The HTS market is segmented into consumables, instruments, services, and software. The consumables segment, specifically reagents & assay kits, dominated the market in 2022, driven by the rising demand for consumables such as reagents and kits for various applications, including drug discovery and life science research.

Technology Insights:

Segmentation based on technology includes Cell-based Assays, Lab-on-a-Chip Technology (LOC), and label-free technology. The cell-based assays segment is expected to exhibit a fast revenue growth rate globally during the forecast period, owing to its biological relevance in predicting treatment responses.

Application Insights:

HTS applications encompass drug discovery, biochemical screening, life sciences research, and other applications. The drug discovery segment is anticipated to hold a significant revenue share due to the time-saving benefits of evaluating millions of compounds and eliminating ineffective ones.

End-Use Insights:

End-use categories include pharmaceuticals & biotechnology companies, academic & research institutes, Contract Research Organizations (CRO), and others. The pharmaceuticals & biotechnology companies segment is projected to experience moderate revenue growth, driven by the essential role of HTS in drug discovery processes.

Regional Insights:

North America North America dominated the market in 2022, with well-established healthcare infrastructure and the presence of major market players contributing to the high adoption of HTS. Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Danaher, and PerkinElmer Inc. are prominent players driving market growth in the region.

Asia Pacific The Asia Pacific region is expected to witness the fastest revenue growth, fueled by the increasing prevalence of diseases in countries like India and China. Rising awareness and collaborations, such as ThinkCyte's partnership with Axcelead Drug Discovery Partners on January 10, 2023, contribute to the growing market in this region.

Europe Europe is poised to account for a substantial revenue share, driven by the rising prevalence of diseases and increasing government support. Metrion Biosciences' investment in HTS facilities on December 1, 2022, reflects the growing demand for screening facilities in the region.

Competitive Landscape:

The global HTS market is consolidated, with key players like Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher, PerkinElmer Inc., Tecan Trading AG, AXXAM S.p.A., Merck KGaA, Bio-Rad Laboratories, Inc., Promega Corporation, and Eurofins Scientific leading the industry. These players engage in product development and strategic alliances, such as Evotec Technologies GmbH's launch of the Opera on December 20, 2022, and Sentinel Diagnostics' introduction of the SENTiFIT 800 Analyzer on June 16, 2022.

Segments Covered in the Report:

The report segments the HTS market based on product and services, technology, application, end-use, and region.

Product and Services Outlook:

Consumables
Instruments
Services
Software

Technology Outlook:

Cell-based Assays
Lab-on-a-Chip Technology (LOC)
Label-free Technology

Application Outlook:

Drug Discovery
Biochemical Screening
Life Sciences Research
Other Applications

End-Use Outlook:

Pharmaceuticals & Biotechnology Companies
Academic & Research Institutes
Contract Research Organizations (CRO)
Others

Regional Outlook:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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