The global high throughput screening market had an estimated valuation of USD 25.7 billion in 2023 and is expected to reach a size of USD 92.5 billion by 2034, increasing at a CAGR of 10.5% between 2024 and 2034. By 2024, the high throughput screening market is poised to reach a valuation of USD 29 billion.
A major factor propelling the global market for high throughput screening is the increasing focus on customized treatment. Rapid analysis of patient samples made possible by high throughput screening makes it easier to identify individualized therapy choices based on each patient’s unique genetic profile. This fuels the need for screening tools in medical and scientific research on pharmaceuticals.
The growth of non-traditional drug discovery applications, such agriculture, environmental monitoring, and customized medicine, presents a market potential for the global high throughput screening market. There is potential for expansion and innovation in these areas given the rapid advancement of technology and the growing need for precision medicine.
Key Takeaways from the Market Analysis:
- The global high throughput screening market size reached USD 25.7 billion in 2019.
- From 2019 to 2023, the high throughput screening market experienced a CAGR of 13.1%.
- Over the course of the projection period, the high throughput screening sector in the United States is expected to develop at a CAGR of 12.6%.
- The most common application of high throughput screening is target identification, which is projected to evolve at a 12% CAGR through 2034.
- The main technology in this market is ultra-high-throughput screening, which is expected to develop at a CAGR of 12.1% through 2034.
“The growing need for accelerated drug discovery procedures is a major factor propelling the global high throughput screening market. Pharmaceutical companies are using high-throughput screening technology to effectively find possible medication candidates as complicated illnesses become more common”, says an FMI analyst.
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Competitive Landscape:
Key competitors in the global high throughput screening market are focused on innovation and strategic collaborations to increase their market share. They invest extensively in research and development to create innovative screening technologies and platforms.
These firms prioritize relationships with research institutes and pharmaceutical companies in order to expand their product offerings and meet the different demands of their customers. They use mergers and acquisitions to improve their market position and acquire access to new technology and skills.
Startups in the global high throughput screening market are using revolutionary technologies like artificial intelligence and microfluidics to provide cost-effective and efficient screening solutions. They prioritize speed and customisation, providing bespoke screening platforms for particular applications such as drug development, toxicity testing, and personalized medical research.
Product Offerings:
- In 2023, Axxam and Promega announced the formalization of an agreement to provide world-class early-stage drug development services for a variety of target classes and cellular pathways. Global clients will have easier access to revolutionary customized luminescence-based, cell-free, and cell-based assays that can be conducted in miniaturized and fully automated High
- Throughput Screening (HTS) format in the quest for novel drug candidates. This partnership combines Promega’s expertise in developing and producing a wide range of luminescence-based instruments with Axxam’s strong background and skills in cell-free and cell-based assays, as well as HTS.
Key Companies Profiled:
Agilent Technologies Inc.; Axxam S.p.A; Beckman Coulter Inc.; Bio-Rad Laboratories Inc.; Danaher Corporation; GE Healthcare; Merck KGaA; PerkinElmer Inc.; Tecan Group Ltd; Thermo Fisher Scientific Inc.
Key Segments profiled in the High Throughput Screening Market:
By Technology:
- Ultra-high-throughput Screening
- Cell-based Assays
- Lab-on-a-chip
- Label-free Technology
By Application:
- Target Identification
- Primary Screening
- Toxicology
By Products and Services:
- Instruments
- Reagents and Kits
- Services
By End User:
- Pharmaceutical and Biotechnology Firms
- Academia and Research Institutes
- Contract Research Organizations
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
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