The market is estimated to grow with a CAGR of 8. 5% from 2021 to 2028. Factors such as the increase in investment in research and development by the pharmaceutical and biotechnology industry and the introduction of technologically advanced products in the high throughput screening market are expected to boost the market growth over the years.
New York, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Service, Technology, Application, End User" - https://www.reportlinker.com/p06176786/?utm_source=GNW
However, the high cost of high-throughput screening, lack of trained professionals, and complexity in assay development are likely to hamper the market’s growth in the coming years.
High-throughput screening (HTS) is a drug discovery process that allows automated testing of many chemical and biological compounds for a specific biological target.High-throughput screening methods are extensively used in the pharmaceutical industry, leveraging robotics and automation to quickly test the biological or biochemical activity of a large number of molecules, usually drugs.
They accelerate target analysis, as large-scale compound libraries can soon be screened cost-effectively. HTS is a valuable tool for assessing, for instance, pharmacological targets, pharmacologically profiling agonists, and antagonists for receptors (such as GPCRs) and enzymes.
The global high throughput screening market is segmented based on product and service, technology, application, and end-user.Based on product and service, the high throughput screening market is categorized into consumables, instruments, accessories, software, services.
In 2021, the consumables segment held the largest share of the market by product and service.The same high throughput screening market segment is also expected to witness the fastest CAGR from 2021 to 2028.
Based on technology, the high throughput screening market has been segmented into cell-based assays, lab-on-a-chip, ultra-high-throughput screening, bioinformatics, label-free technology. In 2021, the cell-based assays segment held the largest share of the market by technology.
In contrast, the lab-on-a-chip segment is expected to grow at the fastest CAGR during the forecasted period.Based on application, the high throughput screening market has been segmented into drug discovery, biochemical screening, life sciences research, other applications.
In 2021, the drug discovery segment held the largest share of the market, by application and the segment is expected to grow at the fastest CAGR during the forecasted period.Based on end-user, the high throughput screening market has been segmented into pharmaceutical and biotechnology companies, academic and government institutes, contract research organizations (CRO), and others.
In 2021, the pharmaceutical and biotechnology companies segment held the largest share of the market by technology. The contract research organizations (CRO) segment is expected to grow at the fastest CAGR during the forecast period.
Contract research organizations, OEMs, and manufacturing organizations are among the primary and secondary sources referred to while preparing the high throughput screening market report.
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