High Throughput Screening (HTS) Market By Product & Services (Instrument, Consumables, Software & Services) , By Technology (Cell based assays, Lab-on-chip technology, Others) By Application (Drug discovery, Biochemical screening, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
High Throughput Screening (HTS) Market
The high throughput screening (HTS) market was valued at $24.6 billion in 2023 and is projected to reach $62.8 billion by 2033, growing at a CAGR of 9.8% from 2024 to 2033.
High throughput screening (HTS) involves rapid analysis of millions of biological samples via chemical, genetic, or pharmacological tests. Technologies involved in HTS include data processing, robotics, detectors, and liquid handling devices. The screening process is majorly used in drug discovery to escape the lengthy preclinical process.
Rise in the prevalence of chronic diseases has amplified the drug discovery processes in research laboratories, driving the growth of the high throughput screening (HTS) market. In addition, upsurge in investments and fundings from government propels the market development. A major trend gaining prominence in the high throughput screening (HTS) market is the assimilation of microfluidics systems for sample screening. This assimilation accelerates the rate of screening by reducing the time and reagents required for the process. Moreover, through microfluidics, scientists are able to mimic the interconnected essence of a living body, thereby enhancing the efficacy of the procedure.
However, high costs associated with accomplishment of the process such as procurement of expensive setup, reagents, and competent laboratory settings hamper the growth of the high throughput screening (HTS) market. Furthermore, constant requirement for upgrading the setup as per the latest technological breakthroughs restrains the market development substantially. On the contrary, surge in demand for precision medicine is expected to open new avenues for the high throughput screening (HTS) market. According to an article by the American Pharmaceutical Review—a leading review journal of the pharmaceutical industry—the global expenditure on precision medicine treatment was approximately $32 billion in 2022 and is expected to cross $124 billion by 2027. This rising expenditure is projected to present lucrative opportunities for the market.
Segment ReviewThe high throughput screening (HTS) market is segmented into product & services, technology, application, end user, and region. On the basis of product & services, the market is divided into instrument, consumables, and software & services. Depending on technology, it is classified into cell based assays, lab-on-chip technology, and others. As per application, it is categorized into drug discovery, biochemical screening, and others. According to end user, it is segmented into pharmaceutical & biotechnological companies, academic & research institutes, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product & services, the consumables segment dominated the market in 2023.
Depending on technology, the cell based assays segment held a high share of the market in 2023.
As per application, the drug discovery segment is anticipated to be the highest shareholder throughout the forecast period.
According to end user, the pharmaceutical & biotechnological companies segment accounted for a high market share in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global high throughput screening (HTS) market include Aurora Biomed Inc, Axxam S.p.A, Danaher Corporation, PerkinElmer, Inc., Bio-Rad Laboratories Inc, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Biotek Instruments Inc., Merck Group KGaA, and Corning Incorporated. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product ServicesInstrument
Consumables
Software Services
By TechnologyCell based assays
Lab-on-chip technology
Others
By ApplicationDrug discovery
Biochemical screening
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersAurora Biomed Inc
Axxam S.p.A
Danaher Corporation
PerkinElmer, Inc.
Bio-Rad Laboratories Inc
Agilent Technologies, Inc.
Thermo Fisher Scientific Inc.
Biotek Instruments Inc.
Merck Group KGaA
Corning Incorporated