The major factors driving the growth of the HTS market include initiatives undertaken by pharmaceutical and biotechnology companies, increasing R&D spending, technological advancements in HTS, and the availability of government funding and venture capital investments.
The High Throughput Screening Market is expected to reach USD 29.29 billion by 2027 from an estimated USD 14.95 billion in 2019, at a CAGR of 7.8%.
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Market Segmentation: -
On the basis of product and service, the reagents & assay kits segment accounted for the largest share of the global HTS market. The large share of this segment can be attributed to factors such as the large numbers of reagents and assay kits used in HTS techniques, rising prevalence of a number of diseases, increasing pharmaceutical R&D, and increased government funding for life science research.
Based on technology, the High Throughput Screening Industry is segmented into cell-based assays, lab-on-a-chip (LOC), ultra-high-throughput screening (uHTS), label-free technology, and bioinformatics. In 2018, the cell-based assays segment accounted for the largest share of the HTS market.
Based on end user, the pharmaceutical and biotechnology companies segment accounted for the largest share of the High Throughput Screening Industry.
Key Market Drivers: –
1 Growing Adoption of Open Innovation Models in Pharmaceutical and Biotechnology Companies
2 Government Funding and Venture Capital Investments
3 Increasing R&D Spending
4 Technological Advancements
Regional Analysis: -
North America accounted for the largest share of the HTS market in 2018, followed by Europe and Asia Pacific.
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Top key Players: -
The prominent players in the global HTS market are Agilent (US), Danaher (US), Thermo Fisher Scientific (US), PerkinElmer (US), Tecan (Switzerland), Axxam (Italy), Merck Group (Germany), Bio-Rad (US), Hamilton (US), Corning (US), BioTek (US), and Aurora Biomed (Canada).