Global High Throughput Screening Market Poised for Significant Growth, Reaching $47.41 Billion by 2031


Posted September 13, 2024 by Meticulous2222

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)

 
Meticulous Research®, a leading global market research firm, has announced its latest report, “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.” The comprehensive study projects the global high throughput screening (HTS) market will reach $47.41 billion by 2031, with a compound annual growth rate (CAGR) of 10.1% from 2024 to 2031.
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Market Drivers and Challenges
The anticipated growth of the HTS market is fueled by several key factors, including the increasing adoption of innovative technologies by pharmaceutical and biotechnology companies, heightened funding for drug discovery, and the expanding number of HTS facilities. Despite these positive trends, challenges such as high capital investment requirements and evolving government regulations are expected to moderate market expansion.
Technological advancements, including multiplexed HTS assays, miniaturization, AI integration, ultra-high-throughput screening (uHTS), and the use of organ-on-chip technology, are poised to drive future market opportunities. However, complexities in data handling and potential issues with false positives remain significant hurdles.
Key Trends and Innovations
Recent market developments highlight several emerging trends:
• Multiplexed HTS Assays: Enhancing the ability to conduct multiple assays simultaneously.
• Miniaturization: Improving assay efficiency and reducing costs.
• AI Integration: Leveraging artificial intelligence for data analysis and interpretation.
• Ultra-High-Throughput Screening (uHTS): Increasing screening capacity and speed.
• Organ-on-Chip Technology: Providing more accurate biological modeling for drug testing.
Market Segmentation and Insights
The report segments the HTS market by technology, offering, application, end user, and geography:
• Technologies: The cell-based assays segment, particularly 3D cell cultures, is expected to dominate, attributed to their enhanced ability to mimic organ microarchitecture and provide more predictive disease and drug responses.
• Offerings: Consumables and reagents are projected to capture the largest market share in 2024, driven by advancements in kit development and their widespread application.
• Applications: Target identification is anticipated to lead in market share due to its crucial role in drug development and the increasing costs associated with drug discovery.
• End Users: The pharmaceutical and biotechnology industries are expected to maintain the largest market share, bolstered by growing research investments and funding.
Regional Analysis
Geographically, the Asia-Pacific region is forecasted to exhibit the highest CAGR, with China leading due to its substantial increase in pharmaceutical R&D spending. Noteworthy is BeiGene Ltd.’s 12.4% rise in R&D expenditure in 2022 and the record number of investigational new drug (IND) and new drug application (NDA) approvals in China, highlighting the region's growing prominence in HTS.
Leading Market Players
The key players in the global HTS market include:
• 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.)
• Aurora Biomed Inc. (Canada)
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Issued By Dipali
Country India
Categories Business
Tags high throughput screening market hts high content screening highthroughput screening assays hts assays highcontent analysis high throughput experiment
Last Updated September 13, 2024