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The high throughput screening (HTS) market is projected to grow by USD 19.9 billion, with a compound annual growth rate (CAGR) of 12.12% from 2023 to 2028. The increasing prevalence of chronic diseases is a significant driver of market growth, pushing pharmaceutical companies to expedite drug discovery processes. The HTS market's growth is supported by laboratory automation systems that streamline drug screening processes, enabling the efficient screening of large compound libraries. Automation in screening protocols and assay platforms, along with the focus on promotional activities, are key trends supporting market expansion.
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The target identification and validation segment will see significant growth during the forecast period. This primary stage of drug development benefits from a growing pipeline of biological candidates, increased outsourcing from pharmaceutical companies, and rising demand for accurate analytical details on drugs and process development by regulatory agencies. The segment was valued at USD 7.04 billion in 2018, with advancements in bioinformatics tools, automated experimental designs, and AI and ML algorithms expected to drive further growth.
North America is estimated to contribute 40% to the global market growth during the forecast period, driven by key vendors such as Bio-Rad Laboratories and Thermo Fisher Scientific. The US and Canada are major revenue contributors due to their stable economies, robust infrastructure for drug launches, and substantial investments in R&D for new drugs. Personalized medicine and regenerative medicine awareness are transforming healthcare in the region.
The HTS market is driven by the increasing prevalence of chronic diseases and the role of laboratory automation in facilitating rapid screening of large compound libraries. Trends include advancements in high-throughput sequencing technologies and lead optimization techniques, enhancing assay development and drug screening. Challenges include the need for continuous innovation to improve screening efficiency and the complexity of managing large datasets from HTS assays.
The rising incidence of chronic diseases like cancer, HIV, and cardiovascular diseases drives the demand for HTS products. HTS aids in the rapid assessment of the biological or biochemical activity of numerous drug-like compounds, providing valuable insights and helping save time and money in the drug discovery process.
Promotional activities are increasingly recognized as crucial for market growth. Market players are promoting high-throughput assays through awareness programs and their websites, addressing the challenge of limited brand and product visibility. Carrier screening, another critical application, benefits from advancements in HTS technologies, allowing for rapid and accurate identification of genetic carriers. These developments ensure that the HTS market remains pivotal in advancing drug discovery and personalized medicine.
High import duties and distribution issues in developing countries pose significant challenges. Most manufacturers are based in the US and Europe, necessitating imports to other regions. High import duties in countries like China, India, and Bangladesh discourage investment, while logistics complexities further hinder market growth.
Companies are adopting strategies such as strategic alliances, partnerships, mergers, acquisitions, and geographical expansion. Key players include 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.
The report provides comprehensive data from 2018 to 2022 and forecasts for 2024 to 2028. It includes application, end-user, and regional outlooks, with North America leading the growth contribution at 40%. The market structure is fragmented, with leading companies adopting competitive strategies to enhance their market presence.
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
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