As per our report, the global high throughput screening market size is anticipated to grow at a 7.8% CAGR from 2020 to 2025. The market was valued at USD 16.21 billion in 2020 and is expected to reach USD 23.6 billion by 2025.
High throughput screening is a drug discovery technique used to evaluate and screen a large number of biological modulators and effectors against a selected target. Over the last couple of years, high throughput screening has gained extensive usage and has become a standard drug discovery method in the pharmaceutical industry. The main idea behind this technique is to accelerate the drug discovery process by screening a large number of compound libraries such as combinatorial chemistry, genomics, protein, and peptide libraries at a rate that may exceed a few thousand compounds per day or week. These methods are also used to describe metabolic, pharmacokinetics, and toxicological data for new drugs, thereby eventually reducing drug development costs. High throughput screening comprises several steps: target identification, reagent preparation, compound management, assay development, and high-throughput library screening.
MARKET DRIVERS:
Growing initiatives by pharmaceutical and biotechnology firms, increased R&D spending, technological improvements, rising government support, and venture capital investments are primarily fuelling the global HTS market growth.
Factors such as technological advancements in the automation of liquid handling, the creation of novel technological platforms, and the development of analytical tools to deal with massive quantities of data have exponentially driven the market for high throughput screening devices market. The growing competition among pharma companies has led to an increased demand for high throughput screening devices. HTS market is expected to witness positive growth due to its inevitable use in the research and production field. Furthermore, the increasing demand for research, substantial capital investments in the HTS technology, the rise in outsourced drug discovery services, and the growing utilization rate of HTS technologies by pharmaceutical companies are key factors aiding the high throughput screening market growth.
In the last few years, the pharmaceutical and biotechnology industries have implemented open innovation strategies to collaborate with educational and research institutions on drug discovery methods. Academic institutions carry out target identification and verification work in this open innovation approach, while pharmaceutical companies carry out advanced screening campaigns and HTS assays production. All pharmaceutical companies and the academy benefit from this strategy. A cooperative approach includes determining clinical value targets for basic biology, new target recognition, and stem cell therapy replacement.
Through this strategy, pharmaceutical companies can improve their drug discovery by increasing testing efficiency and performance. At the same time, academic institutes can continue their work with large data sets present in large pharmaceutical companies' public domain. Therefore, it is expected that the growing adoption of HTS in pharmaceutical & biotechnology companies and educational & research institutes will drive the growth of the HTS industry.
MARKET RESTRAINTS:
Be that as it may, the capital-intensive nature, need for extensive automation techniques, and high regulatory intervention and costs turn out to be restraints for the high throughput screening market.
Impact of COVID-19 on the global high throughput screening market:
The World Health Organization has declared the COVID-19 pandemic as an emergency health issue. The merging of pharma and biopharma companies and other small companies in their initial stages has advanced treatments that aim for the infection. There is no antiviral treatment for human use. It is very crucial to advance large-scale screening to invent drug candidates to treat COVID 19. High throughput screening assays had been developed for SARS-CoV-2 antiviral discovery. There are 79 candidate vaccines, of which 20 candidate vaccines are in stage 3 clinical trials. So far, 11 vaccines are authorized across several countries. Researchers and physicians are in many countries pay attention to different existing drugs to explore their ability to treat COVID 19. Over the crisis, the growing drug discovery projects for improving COVID 19 treatments will successfully accelerate the HTS products market growth used for drug discovery. Four promising drugs are repurposed for use against COVID 19. They are Remdesivir, Chloroquine & Hydroxychloroquine, Lopinavir& Ritonavir, and Lopinavir with Ritonavir plus Interferon beta- 1a.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Technology, Application, Product, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This market research report on the global high throughput screening market has been segmented based on the technology, application, product, end-user, and region.
High Throughput Screening Market - By Technology:
The cell-based assays segment is projected to have prominent growth during the forecast period based on the technology. As the 3D cell-based assays exhibit more natural properties while testing over the natural environment and other cell-related manipulations, they assisted for drug design and discovery.
The Label-free segment is predicted to grow at a lucrative CAGR during the forecast period. The segment provides a simple process for studying complicated biological pathways and diminishes the liability of drug failure produced by toxicity assist in HTS market growth.
High Throughput Screening Market - By Application:
By application, the target identification segment exhibits an immense growth rate in the HTS market.
High Throughput Screening Market - By Product:
The Consumables and reagents segment held the largest share of the products and services market based on the product. The presence of a wide range of reagents and continual product developments and innovations contributes to their most significant share in the HTS products and services market.
High Throughput Screening Market - By End User:
Based on end-users, the pharmaceutical and biotechnology companies segment held the largest market share by end-users. The widespread use of HTS technology in pharmaceutical and biotechnology companies for drug discovery applications is the primary factor driving the growth of this market.
High Throughput Screening Market - By Region:
Regionally, North America held the largest share of the global high throughput screening market, followed by Europe and the Asia Pacific. Growth in the developed regions such as North America and Europe is primarily driven by the massive spending on pharmaceutical R&D and high adoption of HTS and government funding and major companies in this region.
Asia Pacific is expected to register the highest CAGR during the forecast period. Latin America is projected to witness lucrative growth in the coming years. It can be attributed to the growing R&D spending, the rising trend of outsourcing drug discovery services, growing public-private partnerships, and increasing government funding.
KEY MARKET PARTICIPANTS:
The global high throughput screening market is dominated by companies such as 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.
KEY HAPPENINGS IN THIS MARKET:
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