The global high-throughput screening (HTS) market is estimated to garner a revenue of USD 36227.8 Million by the end of 2030 by growing at a CAGR of 8.4% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market touched a revenue of USD 16294.7 Million. The growth of the market can be attributed to growing healthcare expenditure worldwide and the increasing focus of the government of nations to develop advanced medicines for treatment of various chronic diseases. According to the statistics by the National Institute of Health (NIH), research funding in the field of biotechnology in the United States increased from USD 5698 Million in the year 2013 to USD 7767 Million in the year 2020. Moreover, with the growing concerns for chronic diseases, there is a rising demand for drug discovery amongst the biotechnology and pharmaceutical companies. As a result, these companies have implemented open, innovative models of drug discovery by collaborating with research organizations and academic institutions. Automated high-throughput screening system can test close to 1 Million compounds per day and the ultra-high-throughput screening system can test more than 1 Million compounds per day. Owing to such high effectiveness, high-throughput screening methods and protocols are widely preferred by biotechnologists, which in turn is expected to contribute to the market growth. Moreover, the growing geriatric population and the rising health expenditure worldwide are some of the additional factors anticipated to drive the market growth.
Regionally, the global high-throughput screening (HTS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is expected to hold the highest market share by attaining the largest market revenue of USD 15722.9 Million by the end of 2030, up from a revenue of USD 7023.0 Million in the year 2020. The growth of the market in the region can primarily be attributed to the presence of a strong healthcare infrastructure, and for the presence of numerous healthcare companies who are working day in and out to develop advanced drugs and therapies to treat different diseases. According to the statistics by the World Bank, the current health expenditure, as a share of GDP, in North America, grew from 15.629% in the year 2013 to 16.415% in the year 2018. The market in the region is segmented by country into the United States and Canada, out of which, the market in the U.S. is expected to garner the highest market share throughout the forecast period and further grow with the highest CAGR of 8.6% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the other hand, the market in the Asia Pacific is expected to grow with the highest CAGR of 8.6% throughout the forecast period, on account of the rising demand for advanced medications, backed by the increasing prevalence of chronic diseases in the region. The Asia Pacific high-throughput screening market is segmented by country into China, India, Japan, South Korea, Vietnam, Singapore, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is expected to garner the largest revenue of USD 2373.4 Million by the end of 2030, while the market in India is projected to grow with the highest CAGR of 9% during the forecast period.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global high-throughput screening (HTS) market is segmented by products & services into consumables, instruments, software, and services. Out of these segments, the consumables segment is projected to hold the largest share of the market and further grow with the highest CAGR of 8.6% during the forecast period. The segment registered a revenue of USD 6937.73 Million in the year 2020 and is further expected to touch USD 15676.79 Million by the end of 2030. Further, on the basis of technology, the market is segmented into cell-based assays, lab-on-a-chip technology, and label-free technology, out of which, the cell-based assays segment garnered the largest revenue of USD 9468.04 Million in the year 2020, and is expected to touch USD 20832.83 Million by the end of 2030. By application, the market is segmented into target identification & validation, primary & secondary screening, toxicology assessment, and others, out of which, the target identification & validation segment is projected to garner the largest revenue of USD 16925.42 Million by the end of 2030. The global high-throughput screening market is also segmented on the basis of end-user into pharmaceutical & biotechnology companies, academic & government institutes, contract research organizations, and others. Amongst these segments, the pharmaceutical & biotechnology companies segment is expected to garner the largest revenue by the end of 2030 and also grow with the second-highest CAGR of 8.3% during the forecast period
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global high-throughput screening (HTS) market that are included in our report are Agilent Technologies, Inc., Thermo Fisher Scientific, Tecan Trading AG, Promega Corporation, Hamilton Company, BPS Bioscience, Inc., PerkinElmer Inc., Merck KGaA, Carna Biosciences, Inc., Danaher Corporation, and others.
FREQUENTLY ASKED QUESTIONS
The increasing adoption of open innovative models by biotech & pharmaceutical companies is one of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 8.4% over the forecast period, i.e., 2021-2030.
The complexities in the development of assays is one of the major factors estimated to hamper the market growth.
The market in the Asia Pacific to display significant business opportunities in the near future.
The major players in the market are Agilent Technologies, Inc., Thermo Fisher Scientific, Tecan Trading AG, Promega Corporation, Hamilton Company, BPS Bioscience, Inc., PerkinElmer Inc., Merck KGaA,, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by products & services, technology, application, end-user, and by region.
The consumables segment is anticipated to grow with the highest CAGR of 8.6% during the forecast period and display significant growth opportunities.
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