Meticulous Research®, a premier global market research firm, has unveiled its latest report, “High Throughput Screening Market by Technology (Cell-based Assays [2D, 3D], Label-free, Lab-on-chip), Offering (Reagents, Liquid Handling, Readers, Sample Prep), Application (Target Identification, Toxicology, Stem Cell), End User - Global Forecast to 2031.” According to the report, the global high throughput screening (HTS) market is poised to reach $47.41 billion by 2031, reflecting a robust compound annual growth rate (CAGR) of 10.1% from 2024 to 2031.
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Market Drivers and Opportunities
The growth trajectory of the HTS market is attributed to several pivotal factors. The increasing adoption of innovative HTS methodologies by pharmaceutical and biotechnology companies, coupled with rising investments in drug discovery and development, is fueling market expansion. Additionally, the growing number of drug targets for screening and an increasing number of HTS facilities are further propelling market growth. The burgeoning biotechnology sector in countries such as Singapore and India, alongside technological advancements in HTS, presents significant opportunities for market development.
Despite these positive trends, the market faces challenges including high capital investment requirements and evolving regulatory landscapes for drug development. The complexity of HTS data handling and the potential for false positive results also pose challenges to market growth.
Emerging Trends
Key trends influencing the HTS market include the integration of artificial intelligence (AI) into HTS processes, advancements in ultra-high-throughput screening (uHTS), and the use of organ-on-chip technologies. Additionally, miniaturization of HTS assays and the development of multiplexed HTS assays are driving innovation within the industry.
Market Segmentation
The report segments the HTS market based on technology, offering, application, end user, and geography:
• Technology: The cell-based assays segment, which includes 2D cell culture, 3D cell culture, and perfusion cell culture, is expected to hold the largest share in 2024. The 3D cell culture segment is projected to exhibit the highest CAGR due to its ability to replicate typical organ microarchitecture, enhancing predictive disease modeling and drug response assessments.
• Offering: In 2024, the consumables and reagents segment is anticipated to dominate the market, driven by advancements in kit development, widespread availability of reagents, and recurrent HTS consumable applications.
• Application: The target identification segment is set to capture the largest market share in 2024, driven by the need for advanced drug development, the increasing cost of drug discovery, and enhanced automation in HTS screening processes.
• End User: The pharmaceutical and biotechnology industries are expected to be the leading end users in 2024, due to increased research laboratory investments and growing funding for pharmaceutical research.
Geographic Insights
Regionally, Asia-Pacific is forecasted to experience the highest CAGR during the forecast period, with China leading this growth. Increased pharmaceutical R&D spending in China, exemplified by BeiGene Ltd.’s 12.4% increase in R&D expenditure in 2022, and a surge in drug discovery activities, are contributing to this growth. The number of investigational new drug (IND) and new drug application (NDA) approvals in China also reached a five-year high in early 2022.
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