DUBLIN–(BUSINESS WIRE)–The “High Throughput Screening Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product and Service, Technology, Application, End User, and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market is projected to reach US$ 28,255.71 million in 2028 from US$ 15,997.47 million in 2020.
The market is estimated to grow with a CAGR of 8.5% from 2021 to 2028. The report highlights trends prevailing in the market and the factors driving and restraining the market growth.
High-throughput screening (HTS) is a drug discovery process that allows automated testing of large numbers of chemical and/or 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 quickly be screened in a cost-effective way. HTS is a useful tool for assessing for instance pharmacological targets, pharmacologically profiling agonists and antagonists for receptors (such as GPCRs) and enzymes. Factors such as 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. However, the high cost of high-throughput screening and lack of trained professionals, and complexity in assay development are likely to hamper the growth of the market in the coming years.
Based on technology, the high throughput screening market has been segmented into cell-based assays, lab-on-a-chip, ultra-high-throughput screening, bioinformatics, and label-free technology. In 2021, the cell-based assays segment held the largest share of the market, whereas the lab-on-a-chip segment is expected to grow at the fastest CAGR during the forecast period. Cell-based assays have grown to become a versatile tool in healthcare research and development, particularly in the experiments that are designed to understand functionalities of specific cells such as antibodies or drug efficacy on a group of cells. At present, cell-based assays are used in more than half of all high-throughput drug screenings for target validation and ADMET (absorption, distribution, metabolism, elimination, and toxicity) in the early stage of drug discovery.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the high-throughput screening market. Highlights key business priorities in order to assist companies to realign their business strategies. The key findings and recommendations highlight crucial progressive industry trends in the global high-throughput screening market, thereby allowing players across the value chain to develop effective long-term strategies. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it. Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution. Market Dynamics
Drivers
Increase in Investment in Research and Development by Pharmaceutical and Biotechnology Industry Introduction of Technologically Advanced Products in High Throughput Screening Market Restraints
High Cost of High Throughput Screening Lack of Trained Professionals and Complexity in Assay Development Opportunities
Growing Research and Development Activities in Emerging Economies Future Trends
Use of Artificial Intelligence (AI) in High Throughput Screening (HTS) Companies Mentioned
Agilent Technologies, Inc. Axxam S.P.A. Eurofins Scientific Corning Incorporated Molecular Devices, LLC. Hamilton Company Merck Group Perkinelmer, Inc. Tecan Group Thermo Fisher Scientific Inc. For more information about this report visit https://www.researchandmarkets.com/r/85ozwl