The North America High Throughput Screening Market was worth USD 7.06 billion in 2023 and is predicted to grow USD 9.97 billion by 2028. This market is forecasted to grow at a CAGR of 7.12% from 2023 to 2028.
Factors such as advancements in a high number of assay kits and reagents used in top throughput screening techniques, the evolution of preclinical drug development and discovery systems, through the adoption of human stem cell-based high throughput screenings and assays are majorly driving the North American HTS market. Advancements of technologies leading to the emergence of innovative technologies and platforms like analytical tools that deal with massive amounts of data further expand the market. The rise in demand for high throughput screening devices in stem cell research for the assessment of excretion, metabolism, distribution, and absorption characteristics and investigation of functional activity further lavish the growth rate of the North America High Throughput Screening Market.
Also, availability of government funding, increasing demand and a growing number in applications of high throughput screening devices in the pharmacy industry, adoption of high throughput screening devices in production and research fields, rise in outsourced drug discovery services, collaborations of research and academic institutions with pharmaceutical industries for developing innovative ways for drug delivery are further catalyzing the growth of the North American high throughput screening market.
Certain restraints are challenging the growth of North America's high throughput screening market. They are high costs, restrictions in budgets of academic institutions due to which they find difficulties in affording expensive instruments that are essential for research purposes. High Maintenance costs, other indirect expenses are likely to hinder the high throughput screening market during the forecast period.
This research report on the North American HTS market has been segmented and sub-segmented into the following categories:
By End User:
Regionally, North America held the largest share globally, followed by Europe and the Asia Pacific. Growth in the developed regions such as North America is primarily driven by the massive spending on pharmaceutical R&D and high adoption of HTS and availability of government funding and major companies in this region.
The advances in combinatorial chemistry and genomics are responsible for the significant growth of the U.S. high throughput screening market. Also, huge investments by the biotechnology and pharmaceutical industry in terms of miniaturization, automation, and assay methodology for high throughput screening will further help in the growth of the North American market. The availability of government funding and the drug discovery techniques using 3D-cell cultures have increased popularity among companies competing to reach the market with a new drug molecule. According to the American Cancer Society, over 1.7 million cases are cancer patients, about 606,880 Americans die in a single year. SPARC Drug discovery in Canada starts researching functional human proteomics and a high throughput screening facility to provide scientists access to equipment resources such as automation and liquid handling robotics, high content imaging, and high throughput functional screens it is funded by Canada Foundation for Innovation (CFI).
Companies playing a dominant role in the North America 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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