Dublin, March 19, 2021 (GLOBE NEWSWIRE) -- The "Global High-Throughput Screening (HTS) Market by Product (Instruments, Software, Service), Technology (Cell-based Assays, Label-Free), Application (Drug Discovery, Biochemical Screening, Research), End-user (Pharma & Biotech, CROs), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global high-throughput screening market size is projected to reach USD 26.4 billion by 2025 from USD 15.3 billion in 2020, at a CAGR of 11.5% during the forecast period.
The growth in this market is primarily attributed to increasing R&D spending by pharmaceutical & biotechnology companies, technological advancements in high-throughput screening market and the availability of government funding & venture capital investments.
Emerging markets are expected to provide growth opportunities for players operating in the high-throughput screening market in the coming years. However, costly and time-consuming nature of HTS techniques and a serious shortage of skilled operators in the industry are the major challenge in this market.
The services segment accounted for the highest growth rate in the high-throughput screening market, by product & service, during the forecast period
The high-throughput screening market is segmented into consumables, instruments, services, and software. The services segment accounted for the highest growth rate in the high-throughput screening market in 2020. This segment's large share can be attributed to large pharmaceutical companies routinely engaging in outsourcing many tasks such as screening and lead identification, toxicology, and other preclinical studies.
Contract research organizations segment accounted for the highest CAGR
Based on end-user, the high-throughput screening market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations (CROs) and other end-users. In 2020, contract research organizations accounted for the highest growth rate. The major factor driving the growth of this segment is increasing trend of outsourcing of R&D activities by pharmaceutical and biotechnology companies.
Label-free Technology segment accounted for the highest CAGR
Based on technology, the high-throughput screening market is segmented into cell-based assays, lab-on-a-chip technology, and label-free technology. In 2020, the label-free technology segment accounted for the highest growth rate. Label-free technology provides a simple assessment technique for studying complex biological pathways as it does not involve the use of labels. This will support the growth of this technology segment in the HTS market during forecast period.
Drug Discovery segment accounted for the highest CAGR
Based on application, the high-throughput screening market is segmented into drug discovery, biochemical screening, life sciences research and other applications. In 2020, the drug discovery segment accounted for the highest growth rate. The key factor driving this segment's growth is the increasing number of clinical trials and rising pharmaceutical R&D expenditure.
Asia-Pacific: The fastest-growing country in the high-throughput screening market
The high-throughput screening market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is projected to register the highest CAGR during the forecast period. Factors such as the rising R&D spending, growing public-private partnerships, and increasing government funding are factors driving the growth of the HTS market in this region.
The Growing Adoption of Open Innovation Models in Pharmaceutical & Biotechnology Companies
Government Funding and Venture Capital Investments
Increasing R&D Spending
Technological Advancements in the HTS Market
The Capital-Intensive Nature of HTS Instruments
Complexities in Assay Development
Growing Applications in Stem Cell Research
The Dearth of Skilled Operators
Impact of the COVID-19 on the Market
COVID-19 Vaccine Candidates: Key Developments
COVID-19 Drug R&D: Vaccine Production Scenario, by Country
Automation & Miniaturization
Value Chain Analysis
Supply Chain Analysis
Ecosystem Analysis of the HTS Market
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Charles River Laboratories
Diana Biotechnologies S.R.O.
Nanotemper Technologies GmbH
Tecan Group Ltd.
Thermo Fisher Scientific Inc.
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