According to the analysis of Reports and Data, the global high throughput screening market was valued at USD 15.22 Billion in 2020 and is expected to reach USD 35.03 Billion by the year 2028, at a CAGR of 10.8%. High throughput screening is a method using automation and big dataset processing to quickly assay the biological activity of various compounds, genes, and proteins. It is used for target identification, biological screening, protein stabilization, drug discovery and organismal based screening. Substrate concentration optimization, protein concentration and identification of physiologically relevant controls are the key factors for increasing demand in the market. It is one of the standards and famous methods of drug discovery in the pharmaceutical industry. The major goal is speeding up the process of drug discovery by screening a large number of compound stacks such as genomics, protein, peptide libraries, and combinational chemistry at a very fast rate of about 1000 compounds per day or a week
Some of the key factors driving the growth of the high-throughput screening market include, increase in the use of advanced drug discovery and adoption of open, innovative models by pharmaceutical and biochemical companies. Another key factor propelling the global market is increasing government and private investments associated with R&D spending. However, lack of skilled professionals, even in developed countries, hampers the growth of the high throughput screening market. In addition to that, high capital investment also slows down the growth of the market.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Further key findings from the report suggest:
- The high throughput screening market is growing at a CAGR of 8.9% in Asia-Pacific, followed by North America and Europe, with 7.7 % and 7.8% CAGR, respectively. Asia-Pacific is expected to grow at the fastest rate during the forecast period.
- As of 2018, the Reagents and Assay Kits segment is dominating the industry, which holds 39.5% of the global market. North American regional market is the chief revenue-generating source for this product segment, followed by Europe and Asia-Pacific regions
- This method is widely used in leveraging robotics, pharmaceutical industry, and automation to quickly test the biochemical activity in a large number of molecules.
- Reagent preparation, target identification, assay development, high throughput library screening, and compound management are various stages of high throughput screening.
- Asia-Pacific is expected to account for 8.9% of the global market. Developing nations such as China and India are likely to witness huge growth.
- An automated high throughput screening system can test about 100,000 target compounds in a day, and ultra-high system can test more than HTS System does i.e. more than 100,000 compounds per day. Due to this, their adoption of the drug discovery and development process has let to market expansion.
- Automation, Miniaturization, Assay Methodology has attracted huge investments by the pharmaceutical industry for high throughput screening technology, resulting in the growth of the market.
- High throughput screening is one of the standard and famous methods of drug discovery in the pharmaceutical industry. The major goal is speeding up the process of drug discovery by screening a large number of compound stacks such as genomics, protein, peptide libraries, and combinational chemistry at a very fast rate of about 1000 compounds per day or a week.
- Safety screening, target identification and validation, efficacy and monitoring of cell-based activity largely drive this industry, globally.
- Another factor for the growth of the market is huge investments in the healthcare sector and shifting inclination towards target market research.
- The use of data processing software, robotics, and sensitive detectors help to enhance process speed with accuracy. This process is capable of identifying active compounds, antibodies or genes modulating a particular biochemical pathway.
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global High Throughput Screening Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- Thremo-Fischer Scientific
- Merck Group
- Aurora Biomed
High Throughput Screening Market Segmentation:
- Reagents & Assay Kits
- Consumables and Accessories
- Software Services
Technology Type Outlook:
- Cell Based Assays
- Lab on the chip
- Label free Assays
- Target Identification and Validation
- Primary and Secondary Screening
- Toxicology Assessment
- Other Applications
End Use Outlook:
- Pharmaceutical and biotechnology Companies
- Academic and government Institutes
- Contract Research organizations
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global High Throughput Screening market over the forecast period?
- What are the major factors driving the growth of the Global High Throughput Screening Market?
- What are the key challenges impacting the global High Throughput Screening market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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