LONDON--(BUSINESS WIRE)--The global high throughput screening (HTS) market size is poised to grow by USD 15.03 billion during 2020-2024,. However, the market is expected to decelerate at a CAGR of almost 12% throughout the forecast period, according to the latest report by Technavio’ Market Research Report. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
The global high throughput screening industry is driven by the increasing prevalence of chronic diseases. HTS is used for screening small molecules in the drug discovery process, which enables further identification of candidates for the treatment of chronic conditions such as cancer, HIV, and cardiovascular diseases. The prevalence of these conditions is increasing across the globe, which is triggering the demand for HTS products. The rise in chronic diseases has resulted in an increased demand for drug discovery. HTS in a drug discovery process leverages automation to rapidly assess the biological or biochemical activity of a large number of drug-like compounds. It is useful in discovering ligands for receptors, enzymes, ion channels, or other pharmacological targets, as well as pharmacologically profiling a cellular or biochemical pathway of interest.
Register for a free trial today and gain instant access to 17,000+ market research reports
- The major high throughput screening market growth came from the pharmaceutical and biotechnology companies in 2019, and it is expected to witness the fastest growth during the next five years. This is primarily because of the rising pharmaceutical spending, coupled with the increase in demand for HTS for identifying and screening new drug molecules.
- North America was the largest HTS market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the presence of key vendors and launch of new drugs or biopharmaceuticals for several diseases.
- The global high throughput screening market is fragmented. Agilent Technologies Inc., AstraZeneca Plc, Beckman Coulter Inc., Becton, Dickinson and Co., Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Corning Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., Merck KGaA, PerkinElmer Inc., Sartorius AG, Tecan Group Ltd., and Thermo Fisher Scientific Inc. are some of the major market participants. To help clients improve their market position, this high throughput screening market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the Global High Throughput Screening Market 2020-2024 is expected to have Neutral & At Par growth. Even if the spread of virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity.
Read the full report here: www.technavio.com/report/high-throughput-screening-market-industry-analysis?
Rise in R&D Investments will be a Key Market Trend
The global expenditure on R&D for drug development has shown constant growth over the last few years. With the growth in the economy, developing countries are expected to focus more on reducing the disease burden. This will lead to the setting up of a large number of laboratories and research facilities/centers in these countries during the forecast period. In 2019, the investment in R&D by pharmaceutical companies was more than USD 370 billion in the US, and this trend is expected to continue during the forecast period. For instance, around 12 big pharmaceutical companies in the world collectively spent USD 82 billion on drug development in 2018. In 2019, Novartis spent around 2.8 billion in Innovative Medicines Division research and exploratory development, which increased by 3% compared to 2018. Thus, rising investments in R&D have resulted in an increase in drug discoveries by availing the benefits offered by HTS. Compared with traditional drug screening methods, HTS is characterized by its simplicity, rapid results, low cost, and high efficiency.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
High Throughput Screening Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist high throughput screening market growth during the next five years
- Estimation of the high throughput screening market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the high throughput screening market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of high throughput screening market vendors
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Pharmaceutical and biotechnology companies - Market size and forecast 2019-2024
- Academic and research institutes - Market size and forecast 2019-2024
- CROs - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
- Vendors covered
- Market positioning of vendors
- Agilent Technologies Inc.
- AstraZeneca Plc
- Beckman Coulter Inc.
- Bio-Rad Laboratories Inc.
- Charles River Laboratories International Inc.
- Corning Inc.
- Danaher Corp.
- Eurofins Scientific SE
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- PerkinElmer Inc.
- Sartorius AG
- Tecan Group Ltd.
- Thermo Fisher Scientific Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.