Global High-Throughput Screening (HTS) Market to Reach USD 50.2 Billion by 2029: Opportunities, Challenges, and Growth Drivers | MarketsandMarkets™

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.

MarketsandMarkets Logo

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=134981950

Browse in-depth TOC on “High-Throughput Screening (HTS) Market“.

732 – Tables
58 – Figures
577 – Pages

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=134981950

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.

For more information, inquire now! Inquire Now

Related Reports:

Drug Screening Market

Carrier Screening Market

Cell based Assays Market

Label Free Detection Market

Life Science Instrumentation Market

Get access to the latest updates on High-Throughput Screening Companies and High-Throughput Screening Market Size

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://healthtechnologynet.com/wp-content/uploads/2024/07/MarketsandMarkets-2.jpg

 

Cision View original content:https://www.prnewswire.com/news-releases/global-high-throughput-screening-hts-market-to-reach-usd-50-2-billion-by-2029-opportunities-challenges-and-growth-drivers–marketsandmarkets-302195653.html

SOURCE MarketsandMarkets

error: Content is protected !!