CHICAGO, July 12, 2024 /PRNewswire/ -- The
global high-throughput screening market is poised for
substantial growth, projected to reach USD
50.2 billion by 2029, growing at a CAGR of 11.8% from
USD 28.8 billion in 2024. This growth
is driven by increased R&D funding, particularly in drug
discovery initiatives, supported by grants such as the USD 7.8 million awarded to the University of Pittsburgh for advanced drug
discovery systems. However, the market faces challenges due to the
high costs associated with HTS instruments, which include automated
liquid handling systems and high-resolution imaging systems.
Despite this, opportunities abound in emerging markets like
China and India, fueled by favorable government funding
and expanding pharmaceutical sectors. The HTS ecosystem includes
stakeholders like pharmaceutical companies, academic institutions,
and technology providers collaborating to advance HTS technologies
and foster innovation in therapeutic development. As the market
expands, managing data complexity and optimizing assay development
remain critical challenges. The consumables segment dominates the
market, driven by the repeated purchase of reagents and kits
essential for drug discovery workflows. The Asia Pacific region is anticipated to
experience the fastest growth, supported by a diverse patient
population and robust pharmaceutical industry presence.
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Dominance of Consumables Segment in HTS Market
In 2023, the consumables segment accounted for the largest share
of the global HTS market, driven by the extensive use of reagents
and assay kits crucial for HTS processes. The segment's growth is
fueled by rising R&D spending among pharmaceutical companies
and increased government support for life science research.
Continuous and frequent purchases of consumables underscore their
significant role in sustaining market growth as HTS techniques gain
traction across pharmaceuticals, biotechnology, and academic
research sectors.
Advancements Driving Drug Discovery Segment in HTS
Market
The drug discovery segment led the global HTS market in 2023,
propelled by ongoing advancements in HTS technologies such as
automation, miniaturization, and high-content screening.
Integration of advanced robotics and automation enhances throughput
and reproducibility, accelerating drug discovery processes. These
technologies enable precise drug discovery assays, efficient data
generation, and analysis, crucial for identifying lead compounds
with optimal pharmacological properties.
Pharmaceutical & Biotechnology Companies Propel HTS
Market
Pharmaceutical and biotechnology companies held the largest
share of the global HTS market in 2023. This dominance stems from
extensive R&D activities leveraging HTS for lead discovery,
target validation, compound profiling, and hit identification. The
method's acceptance for rapidly scanning large biological libraries
and studying critical biological processes further supports market
growth, driven by the need to enhance drug discovery outcomes.
North America Leads HTS Market with Technological
Advancements
North America emerged as the
largest regional market for HTS in 2023, driven by robust
government funding for life science research and technological
advancements in HTS techniques. The region's thriving biotechnology
and pharmaceutical industries contribute significantly to the
demand for HTS technologies. Pharmaceutical companies and research
organizations in North America
extensively utilize HTS for evaluating drug candidates, thereby
bolstering therapeutic advancements and market growth.
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Thermo Fisher Scientific Inc.'s Dominance in HTS
Solutions
Thermo Fisher Scientific Inc. leads the HTS market with a
comprehensive portfolio of products and solutions tailored for drug
discovery and life sciences research. Their offerings include
automated liquid handling systems, high-content screening
instruments, microplate readers, and various consumables crucial
for processing large volumes of samples and data efficiently. The
company maintains its competitive edge through continuous
innovation, supported by strategic investments amounting to
approximately 3% of annual revenue in 2023. Thermo Fisher's market presence is further
strengthened by strategic initiatives such as product launches,
agreements, joint ventures, and acquisitions.
Agilent Technologies, Inc.'s Customizable HTS
Solutions
Agilent Technologies, Inc. is a pivotal player in the HTS
market, known for its highly customizable solutions that allow
customers to optimize screening workflows to specific needs. Their
offerings include advanced BioTek detection instruments and Gen6
software, enhancing screening capabilities. Agilent's strategic
focus on technology leadership drives continuous innovation,
exemplified by recent acquisitions like e-MSion (US) to bolster
their mass spectrometer product line. These initiatives reinforce
Agilent's position as a preferred partner in the HTS market,
supported by strong brand recognition and a commitment to research
and development.
Merck KGaA's Diverse HTS Product Portfolio
Merck KGaA stands out in the HTS market with a robust portfolio
encompassing biochemicals, equipment, and other essential products
for pharmaceutical, academic, and commercial sectors. Their
offerings include reagents, consumables, devices, instruments,
software, and services crucial for accelerating drug discovery and
biochemical research. The company's global reach and strong
customer relationships bolster its market position, catering to
diverse needs in scientific discovery across pharmaceutical
companies, academic institutions, and government agencies.
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