The global high-throughput screening market is accounted for more than US$ 19.5 Bn in year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional High-throughput Screening Technology Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global high-throughput screening market, By Type (Cell-based Assays, Lab-On-A-Chip, Ultra-High-Throughput Screening, Bioinformatics, Label-Free Technology), By Application (Pharmaceutical and Biotechnology Companies, Academic and Government Institutes, Contract Research Organizations, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global high-throughput screening market is accounted for more than US$ 19.5 Bn and expected to grow at a significant CAGR of 7.4% during the forecast period and expected to reach to the value of US$ XXX Bn in 2025.
As per the report, the upsurge in the count of drug targets screening, across the globe, which in turn is used for drug discovery development is expected to drive the growth of the global high-throughput screening market across the forecast period. High throughput screening (HTS) technique, especially used in drug discovery, in which numerous batches of compounds are tested for biological activity against selected molecules.
The high throughput screening technique is considered as a standard technique over the last two decades with a widespread popularity in the pharmaceutical industry. The potential of high-throughput screening techniques to screen a large number of compound libraries collectively, in order to accelerate the drug discovery process, is what majorly promotes the growth of the global high-throughput screening market. Owing to which, the global high-throughput screening market is expected to grow rapidly in the near future.
Also, the rise in investments by governments and research institutes across the world in R&D activities and further advancements is also boosting the growth of the global high-throughput screening market.
Additionally, high-throughput screening methods also promote its utility in characterizing pharmacokinetic, metabolic, and toxicological data for new drugs and thereby eventually minimizing the price of the drug development. Attributing to such factors, the global high-throughput screening market growth is projected to propel further in the coming years.
Moreover, the key market players are also focused on developing and bringing new technological advancements so as to fuel the growth of the global high-throughput screening market positively. For instance, generation of original technological platforms, technological enhancements such as mechanization of liquid handling, and advancements of examining equipment to handle the huge capacity of data has rapidly driven the growth of the global high-throughput screening market in recent years.
Notably, some of the technological advances in the high-throughput screening industry attribute to introduction of high content screening technologies, robotic automation, miniaturization of the high-throughput screening technological platforms and novel cell culture approaches.
Also, the rising rivalry between pharmaceutical companies across the world with respect to pioneering drug discovery and commercialization demand for high throughput screening methods is increasing at a rapid pace worldwide. Hence, the high-throughput screening market shows the signs of positive growth potential in the forthcoming future owing to its certain applications in the field of research and production.
MMC Study identifies some of the key participating players in the high-throughput screening market globally are Thermo Fisher, Agilent Technologies, Danaher, Perkinelmer, Tecan Group, Axxam, Bio-Rad Laboratories, Merck, Hamilton, Corning Incorporated, Biotek Instruments, and Aurora Biomed, among others.
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