Meticulous Research®, a leading global market research firm, has announced 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.” The comprehensive study projects the global high throughput screening (HTS) market will reach $47.41 billion by 2031, with a compound annual growth rate (CAGR) of 10.1% from 2024 to 2031.
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=3206
Market Drivers and Challenges
The anticipated growth of the HTS market is fueled by several key factors, including the increasing adoption of innovative technologies by pharmaceutical and biotechnology companies, heightened funding for drug discovery, and the expanding number of HTS facilities. Despite these positive trends, challenges such as high capital investment requirements and evolving government regulations are expected to moderate market expansion.
Technological advancements, including multiplexed HTS assays, miniaturization, AI integration, ultra-high-throughput screening (uHTS), and the use of organ-on-chip technology, are poised to drive future market opportunities. However, complexities in data handling and potential issues with false positives remain significant hurdles.
Key Trends and Innovations
Recent market developments highlight several emerging trends:
• Multiplexed HTS Assays: Enhancing the ability to conduct multiple assays simultaneously.
• Miniaturization: Improving assay efficiency and reducing costs.
• AI Integration: Leveraging artificial intelligence for data analysis and interpretation.
• Ultra-High-Throughput Screening (uHTS): Increasing screening capacity and speed.
• Organ-on-Chip Technology: Providing more accurate biological modeling for drug testing.
Market Segmentation and Insights
The report segments the HTS market by technology, offering, application, end user, and geography:
• Technologies: The cell-based assays segment, particularly 3D cell cultures, is expected to dominate, attributed to their enhanced ability to mimic organ microarchitecture and provide more predictive disease and drug responses.
• Offerings: Consumables and reagents are projected to capture the largest market share in 2024, driven by advancements in kit development and their widespread application.
• Applications: Target identification is anticipated to lead in market share due to its crucial role in drug development and the increasing costs associated with drug discovery.
• End Users: The pharmaceutical and biotechnology industries are expected to maintain the largest market share, bolstered by growing research investments and funding.
Regional Analysis
Geographically, the Asia-Pacific region is forecasted to exhibit the highest CAGR, with China leading due to its substantial increase in pharmaceutical R&D spending. Noteworthy is BeiGene Ltd.’s 12.4% rise in R&D expenditure in 2022 and the record number of investigational new drug (IND) and new drug application (NDA) approvals in China, highlighting the region's growing prominence in HTS.
Leading Market Players
The key players in the global HTS market include:
• Thermo Fisher Scientific, Inc. (U.S.)
• Agilent Technologies, Inc. (U.S.)
• Merck KGaA (Germany)
• Danaher Corporation (U.S.)
• Bio-Rad Laboratories, Inc. (U.S.)
• Revvity Inc. (U.S.)
• Tecan Group Ltd. (Switzerland)
• Axxam S.p.A. (Italy)
• Charles River Laboratories International, Inc. (U.S.)
• Hamilton Company (U.S.)
• Promega Corporation (U.S.)
• Aurora Biomed Inc. (Canada)
Quick Buy @ https://www.meticulousresearch.com/Checkout/82641893
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research