High Throughput Screening (HTS) Market Size to Grow by USD 19.9 billion from 2024 to 2028, Market Growth at 12.12% CAGR expected during the forecast period, Technavio

NEW YORK, March 11, 2024 /PRNewswire/ -- The high throughput screening market size is estimated to grow by USD 19.9 billion at a CAGR of 12.12% between 2023 and 2028. 

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Vendor Analysis
Vendor Landscape - The global high throughput screening (hts) market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer high throughput screening (hts) in the market are Agilent Technologies Inc., Aurora Biomed Inc., Axxam Spa, Beckman Coulter Inc., Bio Rad Laboratories Inc., Biomat Srl, BMG LABTECH GmbH, Charles River Laboratories International Inc., Corning Inc., Danaher Corp., DIANA Biotechnologies s.r.o, HighRes Biosolutions, JSR Life Sciences LLC, Lonza Group Ltd., Merck KGaA, NanoTemper Technologies GmbH, PerkinElmer Inc., Sygnature Discovery Ltd., Tecan Trading AG, and Thermo Fisher Scientific Inc. and others. The market is at its growing stage. 

• Agilent Technologies Inc.: The company offers high throughput screening products such as Agilent RapidFire 400 high throughput mass spectrometry system.

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Segment Overview
Technavio has segmented the market based on Type, Application (Target identification and validation, Primary and secondary screening, Toxicology assessment, and Stem cell research), End-user (Pharmaceutical and biotechnology companies, Academic and research institutes, and CROs), and Geography (North America, Europe, Asia, and Rest of World (ROW)). 

• The market is poised for significant growth in the target identification and validation segment, which serves as a primary stage in drug development. This segment, valued at USD 7.04 billion in 2018, is driven by factors such as the growing pipeline for biological candidates, continued outsourcing from pharmaceutical companies, and increased demand for accurate analytical details on drugs by regulatory agencies. Advancements in target identification and validation techniques, including the use of advanced bioinformatics tools, automated experimental designs, and AI and ML algorithms, further enhance segment growth. These factors collectively contribute to fostering the growth of the target identification and validation segment in the market during the forecast period. 

Geography Overview
By geography, the global high throughput screening (hts) market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global high throughput screening (hts) market.

• North America is expected to contribute 40% to the global market growth during the forecast period. Key vendors like Bio-Rad Laboratories and Thermo Fisher Scientific drive significant revenue in the region, supporting numerous pharmaceutical and biotechnology companies with diverse portfolio offerings. The US and Canada are projected to lead in revenue contribution due to their stable economies, robust infrastructure for drug launches, and substantial investments in research and development. The US, in particular, is witnessing a transformation in healthcare with personalized medicine, while growing awareness of regenerative medicine is driving technological adoption. These countries receive increasing support for disease-related research from the biotechnology and pharmaceutical sectors.

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The increasing prevalence of chronic diseases is the key factor driving market growth:

The increasing prevalence of chronic diseases is a key driver of market growth, particularly in screening small molecules for drug discovery. This approach aids in identifying candidates for treating chronic conditions like cancer, HIV, and cardiovascular diseases, which are on the rise globally. Automation in the drug discovery process accelerates the assessment of biological activity in numerous drug-like compounds. Additionally, high-throughput screening is valuable in discovering ligands for various pharmacological targets, enhancing the drug discovery process's efficiency and cost-effectiveness. The growing demand for new drug molecule screening, particularly in cancer research, is expected to propel the global market's growth during the forecast period.

• Increasing focus on promotional activities is the primary trend shaping market growth.
• Import duty and distribution issues in developing countries is a challenge that affects market growth.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a

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Analyst Review:

The High Throughput Screening (HTS) Market is witnessing remarkable growth as it plays a pivotal role in revolutionizing drug discovery and advancing pharmaceutical research. HTS techniques enable researchers to rapidly screen large compound libraries against biological targets, facilitating the identification of potential drug candidates for various diseases. This market is intricately linked to the pharmaceutical and biotechnology sectors, where the demand for innovative screening assays and high-throughput platforms is constantly growing.

Key components of the HTS process include screening assays, which encompass a diverse range of techniques such as cell-based assays, enzyme assays, and receptor binding assays. These assays serve as the foundation for identifying compounds with desired pharmacological properties. Moreover, advancements in automation have transformed laboratory workflows, allowing for increased throughput and efficiency in screening protocols.

The HTS market is driven by the continuous evolution of screening technologies, enabling researchers to streamline drug discovery pipelines and accelerate the development of novel therapeutics. Bioinformatics tools play a crucial role in data analysis and interpretation, providing valuable insights into compound activity and potential drug interactions. Furthermore, HTS platforms facilitate lead optimization and compound profiling, aiding researchers in the selection and prioritization of promising drug candidates.

As drug discovery becomes increasingly complex, there is a growing emphasis on screening efficiency and throughput. HTS methodologies, including assay miniaturization and high-content screening, are at the forefront of innovation, enabling researchers to screen large compound libraries in a cost-effective and time-efficient manner. Additionally, HTS platforms are integral to drug efficacy testing and safety assessment, ensuring that potential drug candidates meet rigorous regulatory standards.

The HTS market is characterized by its dynamic nature, with emerging technologies driving market growth and shaping industry trends. With the advent of biomolecular screening techniques and the integration of artificial intelligence (AI) algorithms, HTS capabilities are expanding, opening new avenues for drug discovery and personalized medicine.

Looking ahead, the HTS market is poised for continued expansion, fueled by the increasing demand for innovative screening methodologies and the emergence of novel therapeutic targets. As pharmaceutical research continues to evolve, HTS technologies will play a central role in driving drug discovery advancements and addressing unmet medical needs.

In conclusion, the HTS market represents a critical component of the pharmaceutical industry, driving innovation and efficiency in drug discovery. As researchers harness the power of HTS technologies to accelerate the development of life-saving therapeutics, the market is expected to witness sustained growth and transformative advancements in the years to come.

Market Overview

The High-throughput Screening Market is witnessing exponential growth driven by advancements in high-throughput technologies and screening platforms. Laboratory automation and robotics play crucial roles, facilitating rapid screening assays and hit identification in drug discovery processes. Companies leverage vast compound libraries to expedite research, while continuous innovation in assay development ensures accuracy and efficiency. Screening instruments enable high-throughput data collection and analysis, further streamlining workflows. With the demand for novel therapeutics rising, the market shows no signs of slowing down. Investment in cutting-edge technologies and collaborations to enhance screening methodologies characterize this dynamic landscape, positioning it for significant expansion in the foreseeable future.

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

SOURCE Technavio

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