“The global high-throughput screening (HTS) market projected to grow at a CAGR of 7.8%.”
The HTS market is expected to reach USD 21.69 billion by 2023 from an estimated USD 14.87 billion in 2018, at a CAGR of 7.8%. The initiatives undertaken by pharmaceutical and biotechnology companies, increasing R&D spending, technological developments in HTS, and the availability of government funding and venture capital investments are the factors driving the growth of the HTS market. However, the capital-intensive nature of HTS and complexities in the field of assay development are expected to limit the growth of this market during the forecast period.
“The software segment is expected to register the highest CAGR during the forecast period.”
On the basis of product & service, the HTS market is segmented into reagents & assay kits, instruments, consumables & accessories, software, and services. The software segment is expected to register the highest CAGR during the forecast period. The increasing automation of high-throughput screening and the availability of robust data management software tools, which enable researchers to develop systemic and process-oriented approaches toward HTS techniques are some of the factors contributing to the growth of this segment.
“Contract research organizations are expected to grow at the fastest rate during the forecast period.”
On the basis of end user, the HTS market is segmented into pharmaceutical and biotechnology companies, academic and government institutes, contract research organizations (CROs), and other end users (hospitals and food, agriculture & environmental industries). The contract research organizations segment is expected to register the highest CAGR during the forecast period owing to the increasing outsourcing of HTS services by many pharmaceutical & biotechnology companies.
“APAC is projected to witness the highest growth during the forecast period.”
North America held the largest share of the global HTS market in 2017. On the other hand, the APAC region is expected to witness the highest CAGR during the forecast period, owing to the increasing R&D spending, growing trend of outsourcing drug discovery services, growing public-private partnerships, and increasing government funding in this region.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–31%, Tier 2–46% and Tier 3–23%
- By Designation – C-level–42%, Director Level–26%, Others–32%
- By Region – North America–35%, Europe–30%, Asia Pacific–21%, RoW–14%
The prominent players in the global HTS market are Agilent (US), Danaher (US), Thermo Fisher Scientific (US), PerkinElmer (US), Tecan (Switzerland), Axxam (Italy), Merck Group (Germany), Bio-Rad (US), Hamilton (US), Corning (US), BioTek (US), and Aurora Biomed (Canada).
The report analyzes the various HTS products and their adoption pattern. It aims at estimating the market size and future growth potential of the global HTS market for different segments such as product & service, technology, application, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global HTS market
- Product Development/Innovation: Detailed insights on upcoming trends, R&D activities, and product launches in the global HTS market
- Market Development: Comprehensive information on the lucrative emerging regions by product & service, technology, application, end user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global HTS market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global HTS market