Chicago, July 30, 2024 (GLOBE NEWSWIRE) -- The "High Throughput Screening Market Size, Share & Trends Offering (Instruments, Consumables (Reagents, Kits), Software, Services), Technology (Cell-based Assays, Lab-on-Chip, Label-free), Application (Drug Discovery, Life Sciences Research) - Global Forecast to 2029" report highlights substantial growth projections. It anticipates the market to escalate from $28.8 billion in 2024 to $50.2 billion by 2029, at a notable CAGR of 11.8%. The global High-Throughput Screening (HTS) market is experiencing significant growth driven by increased R&D funding and investment in drug discovery, which fuels the adoption of HTS technologies. Despite this, the high costs of HTS instruments pose a challenge to market expansion. Emerging markets, especially in Asia Pacific, offer promising opportunities due to growing pharmaceutical sectors and supportive government initiatives. The market is also hindered by complexities in data management and assay development. The consumables segment leads the market, and the HTS ecosystem includes various stakeholders such as pharmaceutical companies, service providers, and research institutions. Key players in the market include Thermo Fisher Scientific, Agilent Technologies, and Merck KGaA, among others.
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Thermo Fisher Scientific Inc.: Leader in High-Throughput Screening Market
Thermo Fisher Scientific Inc., based in the US, is a prominent player in the high-throughput screening (HTS) market, offering a comprehensive range of HTS products and solutions for drug discovery and biochemical research. The company's portfolio includes automated liquid handling systems, high-content screening instruments, microplate readers, and laboratory consumables that facilitate rapid processing of samples and data. Thermo Fisher also provides custom assay development and HTS services, maintaining its market leadership through a combination of product launches, agreements, joint ventures, and acquisitions. In 2023, the company allocated approximately 3% of its annual revenue to research and development, underscoring its commitment to innovation and expanding its product offerings.
Agilent Technologies, Inc.: Innovator in High-Throughput Screening Solutions
Agilent Technologies, Inc., headquartered in the US, is a key player in the high-throughput screening (HTS) market, known for its highly customizable and configurable HTS solutions that allow clients to tailor systems to specific needs and optimize workflows. The company's strong market position is supported by strategic initiatives such as the 2023 launch of Gen6 software for BioTek detection instruments and the acquisition of e-MSion (US) to enhance mass spectrometry performance. Agilent’s emphasis on technology leadership and continuous research and development ensures its status as a trusted partner in the HTS market, bolstered by its innovative products and strong brand recognition.
Merck KGaA: Global Provider in High-Throughput Screening Products
Merck KGaA, a Germany-based multinational, is a leading entity in the high-throughput screening (HTS) market, with a diverse product portfolio that includes biochemicals, equipment, and essential research tools. The company's offerings encompass reagents, consumables, devices, instruments, software, and lab water instruments used in scientific discovery. Merck KGaA's competitive pricing, extensive global reach, and robust customer relationships strengthen its position in the HTS market. The company’s products and services support pharmaceutical companies, research institutions, and government agencies in accelerating drug discovery and life science research.
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Consumables Lead the High-Throughput Screening Market
Based on offerings, the global high-throughput screening (HTS) market is segmented into consumables, instruments, services, and software. In 2023, the consumables segment held the largest market share due to the extensive use of reagents and assay kits essential for the HTS process. Increased R&D spending by pharmaceutical companies and growing government support for life science research are expected to drive further growth in this segment. The consistent use and frequent purchase of consumables, along with the rising adoption of HTS techniques across pharmaceuticals, biotechnology, and academic research, contribute to the segment’s dominance.
Drug Discovery Dominates High-Throughput Screening Applications
Based on application, the global HTS market is divided into drug discovery, biochemical screening, life sciences research, and other applications. The drug discovery segment led the market in 2023, owing to advancements in HTS technologies such as automation, miniaturization, and high-content screening. Enhanced robotics and automation in HTS systems have improved throughput and reproducibility, accelerating the drug discovery process. These systems enable precise drug discovery assays and efficient data analysis, crucial for identifying promising drug candidates.
Pharmaceutical & Biotechnology Companies Lead High-Throughput Screening End Users
Based on end users, the HTS market is segmented into pharmaceutical & biotechnology companies, academic and research institutes, contract research organizations, and other end users. The pharmaceutical & biotechnology companies segment held the largest share in 2023, driven by the growing R&D activities in these sectors. HTS is widely used for drug discovery and development, including lead discovery, target validation, and compound profiling. The increasing adoption of HTS methods for rapid scanning of biological libraries and studying biological processes relevant to drug discovery supports the growth of this segment.
North America Holds Largest Share in High-Throughput Screening Market
Based on region, the HTS market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2023, North America accounted for the largest market share, attributed to rising government funding for life science research, advancements in HTS techniques, and growth in the biotechnology and pharmaceutical industries. The extensive use of HTS technologies by pharmaceutical companies and research organizations in the region drives the demand and supports North America's leading position in the market.
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