High Throughput Screening Market to be Worth $47.41 Billion by 2031

  

“High Throughput Screening Market to be Worth $47.41 Billion by 2031”

Meticulous Research^®—a leading global market research company, published a research report titled, ‘High Throughput Screening Market by Technology (Cell-based Assays [2D, 3D], Label-free, Lab-on-chip), Offering (Reagents, Liquid Handling, Readers, Sample Prep), Application (Target Identification, Toxicology, Stem Cell), End User - Global Forecast to 2031’.

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According to this latest publication from Meticulous Research^®, the global high throughput screening market is projected to reach $47.41 billion by 2031 at a CAGR of 10.1% from 2024 to 2031. The growth of this market can be attributed to various factors, such as the increasing adoption of innovative approaches in pharmaceutical and biotechnology companies, increasing funding for drug discovery, increasing number of drug targets for screening, and rising number of HTS facilities. However, the need for high capital investment and changing government regulations for drug development restrain market growth.

Furthermore, the expansion of the biotechnology sector in countries like Singapore and India and technological advancements in HTS are expected to offer market growth opportunities. However, complexity in HTS data handling and potentially false positive results are major challenges for the market’s growth.

Multiplexed HTS assay, miniaturization of HTS assay, integration of AI in HTS, Ultra-High-Throughput Screening (uHTS), and use of organ-on-chip in HTS are some of the recent trends in the market.

Key Players

The key players operating in the global HTS market are Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Merck KGaA (Germany), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Revvity Inc. (U.S.), Tecan Group Ltd. (Switzerland), Axxam S.p.A. (Italy), Charles River Laboratories International, Inc. (U.S.), Hamilton Company (U.S.), Promega Corporation (U.S.), and Aurora Biomed Inc. (Canada).

High Throughput Screening Market: Future Outlook

The global high throughput screening market is segmented by Technology (Cell-Based Assays [2D Cell Culture, 3D Cell Culture {Scaffold Based Technology (Natural Polymer Hydrogels [Collagen, Gelatin, Hyaluronic Acid, and Alginate], Synthetic Polymers, Solid Scaffolds), Scaffold Free Technology (Hanging Drop Plates, Microfluidics, Rotating Wall Vessel, and Other Scaffold Free Technologies)}, Perfusion Cell Culture], Ultra High Throughput Screening, Label-free Technology, and Lab On Chip), Offering (Consumables & Reagents, Instruments [Sample Preparation Instruments & Accessories, Liquid Handling Instruments, Readers, Other Instruments], Software & Services), Application (Stem Cell Research, Toxicology Assessment, Target Identification, Primary Screening), End User (Pharmaceuticals and Biotechnology Industry, Academics and Research institutes, Contract Research organizations), and Geography. The study also evaluates industry competitors and analyzes the market at the global and regional levels.

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Among all the offerings studied in this report, in 2024, the consumables & reagents segment is expected to account for the largest share of the high throughput screening market. The advancements in the development of kits, wide availability of reagents and kits for HTS, and recurrent applications of HTS consumables are increasing their demand for HTS.

Among all the technologies studied in this report, in 2024, the cell-based assays segment is expected to account for the largest share of the high throughput screening market. The cell-based assay segment is sub-segmented into 2D cell culture, 3D cell culture, and perfusion cell culture. The 3D cell culture segment is expected to register the highest CAGR during the forecast period. The highest CAGR of the segment is attributed to the 3D cell culture’s ability to mimic typical organ microarchitecture, thus helping in vivo studies. Additionally, the major advantages of 3D cell culture assays are more predictive of disease states and drug responses and give more relevant phenotypic responses.

Among all the applications studied in this report, in 2024, the target identification segment is expected to account for the largest share of the high throughput screening market. The large share of the segment is attributed to the need for drug development, the rising cost of drug development, and increasing pharmaceutical & biotechnology companies' expenditure for drug discovery. Additionally, the integration of automation and the introduction of advanced equipment in HTS screening is preventing drug products from contamination and human error, thus lowering the chances of drug failures.

Among all the end users studied in this report, in 2024, the pharmaceutical and biotechnology industry segment is expected to account for the largest share of the high throughput screening market. The large share of the segment is attributed to the growing number of research laboratories, increased investments in R&D, and rising funding for pharmaceutical research. The rising demand for new drugs and therapies is driving an increase in funding for research laboratories, consequently creating a higher demand for HTS screening. For instance, NIH funding has witnessed an increase from USD 42 billion in 2021 to USD 45 billion in 2022 for research purposes (Source: Congressional Research Service).

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

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Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR during the forecast period. In the Asia-Pacific region, China is expected to register the highest CAGR during the forecast period. The rising pharmaceutical R&D spending by key pharmaceutical companies in China is positively impacting the HTS market growth. In 2022, the R&D spending of BeiGene Ltd. (China), one of the major pharmaceutical companies, increased by 12.4% from 2021. Additionally, the rising number of drug discoveries is contributing to the growth of the country. According to Pharmaceutical Product Development (U.S.), in the first quarter of 2022, the number of investigational new drug applications (IND) and new drug application (NDA) approvals in China reached their highest in five years. In the first quarter of 2022, the NMPA received a total of 194 IND and NDA applications.

Key questions answered in the report-

·  Which are the high-growth market segments in terms of offering, technology, application, end user, and region/country?

·  What was the historical market size for high throughput screening globally?

·  What are the market forecasts and estimates for the period 2024–2031?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global high throughput screening market?

·  Who are the major players in the global high throughput screening market?

·  What is the competitive landscape like, and who are the market leaders in the global high throughput screening market?

·  What are the recent developments in the global high throughput screening market?

·  What are the different strategies adopted by the major players in the global high throughput screening market?

·  What are the geographical trends and high growth regions/countries?

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