LONDON--(BUSINESS WIRE)--The global high throughput screening market 2018-2022 is expected to post a CAGR of around 7% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rise in R&D investments. The global expenditure on R&D for drug development has shown a constant growth in the last few years and has increased by 3.21% from 2016. With the rise in economies, the developing countries are likely to focus on the disease burden, which will lead to the setting up of many laboratories and research facilities in these countries during the forecast period. The surge in R&D investments has resulted in an increase in drug discoveries by availing the benefits offered by HTS. Compared with traditional drug screening, HTS is characterized by its simplicity, rapid results, low cost, and high efficiency. These advantages of HTS will continue to drive demand during the forecast period.
This market research report on the global high throughput screening (HTS) market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing focus on promotional activities as one of the key emerging trends in the global high throughput screening market:
Global high throughput screening market: Increasing focus on promotional activities
Unlike other products, brand and product visibility have a limited role in the sales of HTS. The advertising and marketing of HTS products are restricted and there has been a significant lack of awareness about HTS. Thus, the vendors are promoting the use of HTS through their websites.
“To help end-users, Thermo Fisher Scientific provides additional support materials such as the explanation of a technique through documents and brochures, and interactive videos on social media platforms such as YouTube. Besides, certain companies like Bio-Rad Laboratories are conducting workshops to increase awareness about HTS techniques.” says a senior analyst at Technavio for research on life science research tools.
Global high throughput screening market: Segmentation analysis
This market research report segments the global high throughput screening market by end-user (pharmaceutical and biotechnology companies, academic and research institutes and CROs) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 48%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increased production of biologics.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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