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The global high throughput screening (HTS) market size is estimated to grow by USD 19.9 billion at a CAGR of 12.12% between 2023 and 2028.
High Throughput Screening (HTS) Market Share
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of chronic diseases is the key factor driving market growth. High throughput screening (HTS) is used for screening small molecules in the drug-finding approach, which allows different identification of candidates for the treatment of chronic conditions such as cancer, HIV, and cardiovascular diseases. The prevalence of these conditions is increasing across the globe, which is triggering the demand for HTS products. HTS in a drug discovery process leverages automation to rapidly assess the biological or biochemical activity of a large number of drug-like compounds.
Moreover, HTS is useful in discovering ligands for receptors, enzymes, ion channels, or other pharmacological targets. Therefore, HTS is an asset to the drug discovery process, providing valuable insights and helping save time and money, which are expected to drive the high-throughput screening market. Thus, the high incidence of cancer is increasing the demand for new drug molecule screening, which is expected to drive the growth of the global HTS market during the forecast period.
Increasing focus on promotional activities is the primary trend shaping market growth. The nature of the product and the end user segment makes it difficult for sellers to promote their products. Unlike other products, brand and product visibility play a limited role in selling HTS. Advertising and marketing of these products is limited and HTS is very little known. However, key high throughput screening market players have recognized this issue. Hence, they are promoting the use of HTS through their websites.
Furthermore, as advanced products are being developed, high-throughput screening market players are beginning to realize the importance of promotional activities and awareness programs, which are likely to support the growth of the global HTS market during the forecast period. Thus, such factors are expected to drive the growth of the market during the forecast period.
Import duty and distribution issues in developing countries is a challenge that affects market growth. The majority of HTS manufacturers come from the US and European countries such as the UK and Germany. On average, these suppliers have manufacturing or sales units in 3 to 5 countries. Therefore, other countries have to import tools. Almost all the major countries in APAC have high import duties for laboratory equipment, particularly China, India, and Bangladesh. The high import duties will discourage investors from importing them and setting up research facilities in these countries.
In addition, the complexity of logistics linked to the distribution of accessories, reagents, and consumables further adds to the suffering. The availability of safe third-party logistics is gradually helping manufacturers overcome this limitation, but it continues to be a significant factor adversely affecting the demand and use of HTS in developing countries. Hence, such factors may impede the growth of the market during the forecast period.
The application segment includes target identification and validation, primary and secondary screening, toxicology assessment, and stem cell research. The end-user segment includes pharmaceutical and biotechnology companies, academic and research institutes, and CROs. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW).
The market share growth by the target identification and validation segment will be significant during the forecast period. Target identification and validation is the primary stage of drug development. Moreover, factors such as a growing pipeline for biological candidates continued outsourcing from pharmaceutical companies, and increasing demand for accurate analytical details on drugs and process development by regulatory agencies are anticipated to drive the growth of the target identification and validation segment.
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The target identification and validation segment was valued at USD 7.04 billion in 2018. The advancements made in the target identification and validation of novel drug targets using different approaches, such as advanced bioinformatics tools and automated experimental designs, and the penetration of AI and ML algorithms will further enhance the growth of the segment. Therefore, all such factors are expected to foster the growth of the target identification and validation segment in the global high throughput screening (HTS) market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the largest revenue contributor in the market due to the presence of key vendors such as Bio-Rad Laboratories and Thermo Fisher Scientific in the region that continually support a large number of pharmaceutical and biotechnology companies in the region through a diversified portfolio of HTS offerings.
The forecast period indicates that the US and Canada will be the top revenue contributors in the region. This is due to their stable economies, robust infrastructure supporting drug launches, and substantial investments in research and development for new drugs. Personalized medicine in the US, based on patient physiologies, is transforming healthcare, while increasing awareness of regenerative medicine is driving the adoption of High-Throughput Screening (HTS) technology. The US and Canada, being key countries in North America, are witnessing growing support for disease-related research from the biotechnology and pharmaceutical sectors.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agilent Technologies Inc.: The company offers high throughput screening products such as Agilent RapidFire 400 high throughput mass spectrometry system.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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High Throughput Screening (HTS) Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.12% |
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Market growth 2024-2028 |
USD 19.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.64 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Japan, China, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agilent Technologies Inc., Aurora Biomed Inc., Axxam Spa, Beckman Coulter Inc., Bio Rad Laboratories Inc., Biomat Srl, BMG LABTECH GmbH, Charles River Laboratories International Inc., Corning Inc., Danaher Corp., DIANA Biotechnologies s.r.o, HighRes Biosolutions, JSR Life Sciences LLC, Lonza Group Ltd., Merck KGaA, NanoTemper Technologies GmbH, PerkinElmer Inc., Sygnature Discovery Ltd., Tecan Trading AG, and Thermo Fisher Scientific Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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