According to The Insight Partners latest research study on “High Throughput Screening Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Product and Service, Technology, Application, and End User,” 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.
Download sample PDF Copy of High Throughput Screening Market study @ https://www.theinsightpartners.com/sample/TIPBT00002085/
Agilent Technologies, Inc.; Axxam S.P.A.; Eurofins Scientific; Corning Incorporated; Molecular Devices, LLC.; Hamilton Company; Merck Group; Perkinelmer, Inc.; Tecan Group; and Thermo Fisher Scientific Inc. are among the leading companies operating in the high throughput screening market.
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.
The high throughput screening market is segmented based on product and service, technology, application, and end-user. Based on product and service, the high throughput screening market is categorized into consumables, instruments, accessories, software, services. Based on technology, the high throughput screening market has been segmented into cell-based assays, lab-on-a-chip, ultra-high-throughput screening, bioinformatics, label-free technology. Based on application, the high throughput screening market has been segmented into drug discovery, biochemical screening, life sciences research, other applications. Based on end-user, the high throughput screening market has been segmented into pharmaceutical and biotechnology companies, academic and government institutes, contract research organizations (CRO) and others.
Below is the list of the growth strategies done by the players operating in the high-throughput screening market:
In Aug-2020 – PerkinElmer has launched series of explorer workstations for SARS-CoV-2 testing capable of preparing and running up to 10,000 COVID-19 tests per day. PerkinElmer’s automated workstations streamline testing workflows, speeding up SARS-CoV-2 RT-PCR and ELISA testing. They also help laboratories improve their efficiency, while eliminating errors.
In Aug-2019 – Molecular Devices, LLC, launched the next generation FLIPR Penta High-Throughput Cellular Screening System. The expanded capabilities of the FLIPR Penta system will allow scientists studying organoids and stem cell-derived neuronal and cardiac cells to have a better understanding of toxic compound effects
In Jan-2017 – Merck, has introduced CAN MultiFlow screening services to more accurately predict genotoxic and mode of action properties of substances, ingredients and drug compounds. Offered through its BioReliance testing facilities, Merck will be the first company to provide this service in the United States
Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods – https://www.theinsightpartners.com/buy/TIPBT00002085/
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense, Food & beverage, Chemical and Materials, Semiconductors etc.
Email: [email protected]