High Throughput Screening (HTS) Market Size, Share, Growth Outlook and Geographical Analysis by 2025
The high throughput screening (HTS) market size is anticipated to value at USD 30.91 billion by 2025, during the forecast period. HTS market is subject to show substantial growth due to the growing emphasis on drug discovery and development coupled with increasing investment by governmental agencies and research institutes. With recent advancement in technology and the growing need for automation for liquid handling, the formation of innovative platforms, and improvements in existing analytical tools allows handling large sets of data, thus driving the growth of the high throughput screening (HTS) market exponentially. Furthermore, rising competition between various healthcare and pharmaceutical organizations to revolutionize drug discovery is catering to the growth of the HTS market in the coming years.
The constant demand for high throughput screening (HTS) in research and production areas is further propelling the growth of the HTS market. Globally, the high throughput screening (HTS) market is predicted to grow at a CAGR of 7.89% in the forecast period, providing numerous opportunities for market players to invest in research and development in the HTS market. High throughput screening, commonly referred to as a high content screening (HCS), is majorly adopted to carry out various genetic, biochemical, and pharmacology studies to help in the drug discovery procedure involving drug design to medical trials and analysis of the effects caused by drug interactions. The high throughput screening (HTS) procedure consists of high-tech software, numerous instruments to manage liquids, and other detectors to allow rapid identification of active materials, genetic modifications, and biochemical interactions.
Mounting demand for highly effective therapies to cure various diseases has led to the adoption of technology in drug discovery. Monitoring of large amounts of processed data and screening are some of the critical processes that have to be handled with high precision to achieve the required outcome. The latest trends in drug discovery involve the formation of numerous biochemical libraries to establish a set of standards and record results, thus escalating the growth of the high throughput screening (HTS) market. Though, adoption of such a procedure requires a specific set of skillset and advanced software to manage and save a large amount of data at high speed, the lack of which hampers the growth of the high throughput screening (HTS) market.
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Numerous governmental and private agencies are assigned to monitor stringent quality checks and standards to attain the required integrity and precision for the obtained data, thus fueling the growth of the HTS market over the forecast period. Yet, the unavailability of advanced software to control automated instruments and liquid handling systems is significantly hampering the growth of the market. Nevertheless, one of the biggest advantages associated with the use of high throughput screening (HTS) is the reduction of time to formulate a drug discovery.
High Throughput Screening (HTS) is a widely known drug discovery technique, that is commonly adopted in the pharmaceutical and healthcare sector. High throughput screening (HTS) allows the use of automation for faster examination and analysis of the biological and chemical activities of numerous compounds that are used for the production and discovery of drugs. Application of the high throughput screening (HTS) involves discovering molecular receptors, various enzymes, ion channels, and identification of a chemical pathway. HTS is made feasible for drug discovery due to modern advancements in robotics and high-speed computing technique.
The market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has shown major growth in recent years owing to the rise adoption of the latest methodologies in the healthcare sector for R&D purposes and the existence of well-established market players in the region.
Asia-Pacific region is predicted to hold a major market share in the high throughput screening (HTS) industry with massive growth in the forecast period. Countries such as India, China, and Japan are leading the Asia-Pacific market with recent technological advancements in drug discovery techniques with the use of 3D-cell cultures and substantial investment by prominent industry players due to potential opportunities in the region.
The key players in the high throughput screening (HTS) market are Agilent Technologies Incorporations, Danaher Co., Thermofisher Scientific Incorporations, PerkinElmer Incorporations, Tecan Group Limited, Hamilton Company, and Aurora Biomed Co.
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The high throughput screening (HTS) market size is anticipated to value at USD 30.91 billion by 2025, during the forecast period. HTS market is subject to show substantial growth due to the growing emphasis on drug discovery and development coupled with increasing investment by governmental agencies and research institutes. With recent advancement in technology and the…
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