High Throughput Screening Market to Be Worth $47.41 Billion by 2031 - Exclusive Report by Meticulous Research®

REDDING, Calif., May 29, 2024 /PRNewswire/ -- According to a new market research report titled, "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", published by Meticulous Research^®, the high throughput screening market is projected to reach $47.41 billion by 2031 at a CAGR of 10.1% from 2024 to 2031.

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High throughput screening (HTS) is a technique employed in drug discovery to quickly test large numbers of compounds for their potential as therapeutic agents. This methodology is mainly used to screen and analyze millions of compounds in a short period, improving the probability of discovering promising small-molecule drug candidates.

Recently, ultra-high throughput screening (UHTP) has advanced the drug discovery process and enabled drug developers to increase the screening load. The UHTP method relies on advancements in robotics and automation. Automation and robotics have increased cost-effectiveness, efficiency, and productivity in the ultra-high throughput screening process. Automated systems, such as robotic arms and conveyor belts, can perform repetitive tasks with higher speed and accuracy, reducing labor costs and increasing the output of the screening process. HTS is an effective tool for assessing the antagonists for receptors (such as GPCRs), pharmacological targets, enzymes, and pharmacologically profiling agonists.

Expansion of Biotechnology Industry in Asia-Pacific and Middle East & Africa are Providing Opportunities for Market Growth

Countries such as Singapore, India, Saudi Arabia, UAE, Indonesia, and other countries are allocating significant funding or resources for the development of the biotechnology sector. These countries are focusing on the development of biotechnology sector to adapt the technologies for the social and environmental needs. Some of the recent expansions in the biotechnology industry are as follows,

• The Government of India has formed the Department of Biotechnology (DBT) and other government-funded institutions, such as the National Biotechnology Board (NBTB), which work together to establish India as a global hub for biotech research and business excellence. India's bioeconomy industry was valued at USD 137 billion in 2023 and is expected to reach USD 150 billion by 2025 (Source: India Brand Equity Foundation).
• In August 2023, the government of Singapore announced USD 19 billion in funding for the advancement of the biotechnology sector under the Research, Innovation and Enterprise 2025 scheme.
• In January 2024, Saudi Arabia launched a National Biotech Strategy to localize biomanufacturing, incentivize R&D, and establish Saudi Arabia as the regional biotech leader by 2030 and an internationally recognized hub by 2040.

Thus, the expansion of biotechnology industries in the economies mentioned above is providing a growth opportunity for key players operating in the HTS market. HTS is used for identifying effectors (compounds, peptides, and biologics) that modulate target-specific biochemical or cell-based assays, thus helping in drug discovery & development.

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The key players operating in the global high throughput screening market are 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.), and Aurora Biomed Inc. (Canada).

Among all the offerings studied in this report, in 2024, the consumables & reagents segment is expected to account for the largest share of the high throughput screening market. The advancements in the development of kits, wide availability of reagents and kits for HTS, and recurrent applications of HTS consumables are increasing their demand for HTS. However, the software & services segment is expected to register the highest CAGR during the forecast period. The high CAGR of the segment is attributed to the use of software for data handling and the software's ability to run virtual screens and optimize conditions for HTS assays. The high throughput screening platforms or workstations based on software enhance its productivity. The automation in the instruments allows researchers to analyze large numbers of data within a short period of span with accuracy. Thus, rising adoption of advanced software for enhanced operations & productivity of basic research and drug discovery are expected to drive the growth of this market during the forecast period.

Among all the technologies studied in this report, in 2024, the cell-based assays segment is expected to account for the largest share of the high throughput screening market. The large share of the segment is attributed to the cell-based assays accelerating the drug discovery process, as the use of cell-based assays provides relevant in vivo biological information over biochemical assays. Additionally, the use of cell-based assays in cytotoxicity testing during drug discovery to determine the mechanism of action (MoA) and to establish their physiological importance & biological relevance and early-stage proof of drug screening is supporting the segment's large share.

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Among all the applications studied in this report, in 2024, the target identification segment is expected to account for the largest share of the high throughput screening market. The large share of the segment is attributed to the rising adoption of high throughput products by pharmaceutical & biopharmaceutical companies for efficient, faster, and cost-effective identification of targets in early-stage drug discovery. Additionally, the target identification process provides pharmaceutical and biotechnology companies framework for further investment to bring the new drug molecule to the market, thus further contributing to the large share of the segment.

Among all the end users studied in this report, in 2024, the pharmaceutical and biotechnology industry segment is expected to account for the largest share of the high throughput screening market. The large share of the segment is attributed to significant investments in research and development (R&D) activities and infrastructure development by pharmaceutical & biotechnology companies. For instance, in January 2023, Agilent Technologies Inc. (U.S.) invested USD 725 million for the expansion of a Nucleic Acid-Based Therapeutics production facility art Frederick, Colorado. The production facility is expected to be operational in 2026. The funding for research laboratories is increasing due to the rising demand for new drugs and therapies, which is driving the demand for high throughput screening. For instance, in 2022, Merck KGaA (Germany) offered three research grants of USD 526,891 for three years for drug discovery.

Among all regions studied in this report, in 2024, North America is expected to account for the largest share of the high throughput screening market. North America's major market share is attributed to the presence of major key players, technological advancements, such as 3D cell cultures, investment by key players in R&D for drug discovery, and strategic initiatives adopted by the key players.

However, the Asia-Pacific high throughput screening market is expected to register the highest CAGR during the forecast period. In the Asia-Pacific region, China is expected to register the highest CAGR during the forecast period. The rising pharmaceutical R&D spending by key pharmaceutical companies in China is positively impacting the HTS market growth. In 2022, the R&D spending of BeiGene Ltd. (China), one of the major pharmaceutical companies, increased by 12.4% from 2021. Additionally, the rising number of drug discoveries is contributing to the growth of the country. According to Pharmaceutical Product Development (U.S.), in the first quarter of 2022, the number of investigational new drug applications (IND) and new drug application (NDA) approvals in China reached their highest in five years. In the first quarter of 2022, the NMPA received a total of 194 IND and NDA applications.

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Scope of the Report:

High Throughput Screening Market Assessment—by Product

• Cell-Based Assays
• 2D Cell Culture
• 3D Cell Culture
• Scaffold Based Technology
• Natural Polymer Hydrogels
• Collagen
• Gelatin
• Hyaluronic Acid
• Alginate
• Synthetic Polymers
• Solid Scaffolds
• Scaffold Free Technology
• Hanging Drop Plates
• Microfluidics
• Rotating Wall Vessel
• Other Scaffold Free Technologies
• Perfusion Cell Culture
• Ultra-High Throughput Screening
• Label-free Technology
• Lab-on-Chip

Note: Other scaffold-free technologies include pellet culture, liquid overlay, and spinning flask

High Throughput Screening Market Assessment—by Offerings

• Consumables & Reagents
• Instruments
• Sample Preparation Instruments & Accessories
• Liquid Handling Instruments
• Readers
• Other Instruments
• Software & Services

Note: Other instruments include laser scanning cytometers and microplate imagers

High Throughput Screening Market Assessment—by Application

• Stem Cell Research
• Toxicology Assessment
• Target Identification
• Primary Screening

High Throughput Screening Market Assessment—by End User

• Pharmaceuticals and Biotechnology Industry
• Academics and Research institutes
• Contract Research organizations.

High Throughput Screening Market Assessment—by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of Asia-Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

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