Wilmington, Delaware, United States, Transparency Market Research Inc.: The global High Throughput Screening HTS market is expected to witness strong growth during the forecast period between 2021 and 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global High Throughput Screening HTS market is expected to witness strong growth during the forecast period between 2021 and 2031.
HTS is a drug discovery procedure employed to screen and examine large samples of biological modulators. Some of the samples examined could be over 1000 per day. The main objective behind deploying any HTS technique is to increase the pace of a drug discovery process. HTS comprises several steps such as target identification, compound management, reagent penetration, and assay development.
HTS procedures have been extensively deployed in pharmaceutical and biopharmaceutical industries and are useful in integrating automation and robotics equipment for the rapid testing of a large number of samples.
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High Throughput Screening Market - Trends and Opportunities
Rising HTS deployment in drug development is the key growth driver for the global HTS market. HTS deployment has helped decrease the time taken to produce drugs, thereby fueling the demand. In addition to this, increased expenditure on research and development activities is expected to fuel the growth in the HTS market. The development of high-quality screening methods, miniaturization of HTS platforms, and robotic automation are also expected to bolster the HTS demand, in future.
Innovations such as novel product launches, the invention of different analytics tools which can handle large data, and automation of liquid handling are expected to drive the HTS market, in the coming years.
The consumables and accessories product segment is expected to make the largest contribution to the overall HTS market due to the extensive deployment of assay and regent kits in HTS techniques. The pharmaceutical and biopharmaceutical end-use is anticipated to contribute the most to the overall HTS market in future owing to the increased adoption of open innovation methods in both industries.
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High Throughput Screening Market - Competitive Landscape
The global HTS market comprises very few players, all of whom are looking to engage in different growth strategies such as novel product launches in a bid to remain competitive in the overall market.
Some of the smaller players in the HTS market will seek support from governments, in terms of funding which could help them in their long-term growth. R&D undertakings could be a key growth strategy for the HTS market players, in the years ahead.
Some of the leading players in the global HTS market include PerkinElmer Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Agilent Technologies Inc., and Merck KgaA.
High Throughput Screening Market - Regional Assessment
The global HTS market is divided into four regions, namely, North America, Asia Pacific, Europe, and the rest of the world. North America is expected to be the dominant region in the global HTS market in future owing to increased adoption of HTS in countries such as the U.S and Canada, contributing substantially to the growth of the market in the region.
The presence of several leading players in North America is also expected to contribute to the growth of the market in the years ahead.
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Europe is expected to witness substantial growth in the HTS market in future owing to extensive research and development activities witnessed in countries such as UK and Germany.
Asia Pacific is expected to witness strong growth in the HTS market due to the ease of availability of key resources such as labor and government support in countries such as India, expected to drive the growth in the HTS market in the region.
Owing to the ease in availability of resources such as labor and land could lead to prominent players establishing R&D centers in Asia Pacific countries in future. The rest of the world is expected to witness moderate growth in the HTS market, in future.
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