The size of the high throughput screening market in the Middle East and Africa is anticipated to grow at 6.9% CAGR from 2022 to 2027, and it is estimated that the Middle East and Africa market was valued at USD 1.39 billion in 2022 and is expected to reach USD 1.94 billion by 2027.
The rise in the number of potential drug targets and advancements in technologies leading to the emergence of innovative technologies and platforms like analytical tools that deal with massive amounts of data drive market growth. In addition, growth in demand for high throughput screening devices in stem cell research for assessing excretion, metabolism, distribution, and absorption characteristics and investigation of functional activity are significant drivers of the MEA high throughput screening market. Also, the availability of government funding, collaborations of research, and academic institutions with pharmaceutical industries for developing innovative ways for drug delivery are further catalyzing the growth of the MEA high throughput screening market.
The factors that provide growth opportunities for expanding the high throughput screening market during the forecast period are the evolution of preclinical drug development and discovery systems by adopting human stem cell-based high throughput screenings and assays. Emerging economies of countries are increasing the market's growth opportunities due to rapid growth in pharmaceutical industries and the integration of innovative technologies, a significant push for research by governments of these countries in the life sciences industry.
Restraints challenging the growth of the high throughput screening market are costs, the requirement of extensive automation techniques, the capital-intensive nature, and budget restrictions for academic research purposes. There is an increased requirement for instruments in biotechnological and pharmacy companies, resulting in a notable rise in these companies' capital costs that are expected to limit the MEA high throughput screening market during the forecast period.
This research report on the MEA high throughput screening market has been segmented and sub-segmented into the following categories:
By End User:
Regionally, South Africa and Saudi Arabia witnessed to grow with the highest CAGR in the MEA high throughput screening market during the forecast period. Technological advancements in high throughput growing pharmaceutical research and development expenses are likely to fuel the market growth during the historical period. In addition, the availability of funds from the government integrated with developing common diseases is propelling the market.
Other countries like UAE, Ethiopia, Israel, Sudan, Kenya, Egypt, and the rest of the MEA are expected to grow in the region's market.
KEY MARKET PARTICIPANTS:
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 are some of the notable companies in the MEA high throughput screening market.
The MEA high throughput screening market is expected to grow at a CAGR of 6.9% from 2022 to 2027.
Thermo Fisher Scientific, Danaher Corporation, Agilent Technologies, PerkinElmer, and Merck KGaA are some of the notable companies in the MEA high throughput screening market.
Factors such as the growing prevalence of chronic diseases, growing demand for personalized medicine, and advancements in technology that enable more efficient and cost-effective screening are propelling the MEA high throughput screening market.
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