The size of the High Throughput Screening Market in Europe is anticipated to grow at 7.92% CAGR from 2022 to 2027, and it is estimated that the European market was valued at USD 4.55 billion in 2022 and is expected to reach USD 6.67 billion by 2027.
Key factors such as advancements in a high number of assay kits and reagents used in top throughput screening techniques and liquid automation handling technology, the emergence of novel technological platforms are primarily driving the market growth. Adoption of high throughput screening devices in production and research fields, collaborations of research, and academic institutions with pharmaceutical industries for developing innovative ways for drug delivery are further catalyzing the growth of the high throughput screening market. Advancements of technologies leading to the emergence of innovative technologies and platforms like analytical tools that deal with massive amounts of data, high investments in high throughput screening market, rise in demand for outsourced drug discovery services.
Restraints that are challenging the growth of the high throughput screening market are the requirement of extensive automation techniques, capital intensive nature, regulations, and high maintenance costs that are likely to hinder the Europe high throughput screening market during the forecast period.
Rapid growth in pharmaceutical industries and integration of innovative technologies, rise in the number of patients and elderly population, significant push for research by governments of these countries in the life sciences industry, low raw material, and labor costs are additionally influencing the market growth.
This research report has been segmented and sub-segmented into the following categories:
Regionally, Europe held the second-largest share of the market. Growth in the region is primarily driven by the massive spending on pharmaceutical R&D and the high adoption of HTS and the availability of government funding, and the presence of major companies in this region.
The UK is leading the high throughput screening market with a significant share over the analysis period. This country's growth is due to government and other venture capital funds, and their investments influence market growth. Moreover, a growing number of drug targets used for the development and discovery of drugs is likely to boost up the market growth.
The UK follows Germany and France with the existence of a large number of key players coming up with new versions and latest technologies.
Key players operating in the Europe High Throughput Screening Market profiled in this report are Agilent Technologies Inc., Danaher Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Tecan Group Ltd., Millipore, Bio-Rad Laboratories, Hamilton Company, Axxam S.p.A., and Aurora Biomed.
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