Global High-Throughput Screening (HTS) Market to Attain a Revenue of USD 36227.8 Million by 2030; Market to Grow on Account of the Increasing Focus on Drug Development Processes
New York, Jan.28, 2022(GLOBE NEWSWIRE) -- According to the statistics by the World Bank, the current health expenditure (% of GDP) around the globe, grew from 9.133% in the year 2008 to 9.857% in the year 2018. On the other hand, according to the statistics by the Organization for Economic Co-Operation and Development (OECD), the current expenditure on health (all functions) as a share of gross domestic product, in the United States, China, India, Germany, and France in the year 2018 recorded to 16.7%, 5.1%, 3.6%, 11.5%, and 11.2% respectively. Further, the National Institute of Health (NIH), in one of its statistics, stated that the research spending in the field of biotechnology in the United States touched USD 7767 Million in the year 2020, up from USD 5698 Million in the year 2013. This is further projected to reach USD 7912 Million by the end of 2022.
Research Nester has recently released a report titled “Global High-Throughput Screening (HTS) Market” which is studied for the forecast period, i.e., 2021-2030. The report includes a detailed analysis of the key market players operating in the market, along with the latest developments and market trends. The report also provides a brief analysis of the key factors driving the market growth in the coming years.
Globally, the concern for the increasing prevalence of chronic diseases is rising at a significant pace. According to the statistics by the United States Centers for Disease Control and Prevention (CDC), 4 in 10 adults in the country have 2 or more chronic diseases, while 6 in 10 adults had a chronic disease. Owing to such growing concerns, and to combat these diseases, the government of nations, along with the pharmaceutical and biotechnology companies are increasingly working on implementing open and innovative models of drug discovery by collaborating with research organizations and academic institutions. Moreover, in recent years, the number of drug approvals has also witnessed a surge in growth. According to the statistics by the United States Food and Drug Administration (FDA), in the year 2019, the Center for Drug Evaluation and Research (CDER) of the U.S. FDA approved 48 novel drugs. Moreover, an average of 37 novel drug approvals every year was recorded between the period 2010 and 2018. The increasing need for drug discovery is projected to drive the demand for laboratory equipment, such as high-throughput screening (HTS) devices. Such a factor is projected to drive the growth of the global high-throughput screening (HTS) market during the forecast period. The market is anticipated to garner a revenue of USD 36227.8 Million by the end of 2030, up from USD 16294.7 Million in 2020. The market is further expected to grow with a CAGR of 8.4% during the forecast period.
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The global high-throughput screening (HTS) market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of the market in these regions, by the end of 2030, the market in North America is projected to garner the largest revenue of USD 15722.9 Million, up from USD 7023.0 Million in the year 2020. The market in the region is further projected to grow with a CAGR of 8.5% during the forecast period. On the basis of country, the market in the region is segmented into the United States, and Canada, out of which, the market in the United States is anticipated to touch USD 6181.6 Million by the end of 2021. The market in the country is also projected to grow with the highest CAGR of 8.6% during the forecast period.
The market in the Asia Pacific, on the other hand, is projected to grow with the highest CAGR of 8.6% over the forecast period. The market in the region garnered a revenue of USD 3454.5 Million in the year 2020 and is further expected to reach USD 7825.2 Million by the end of 2030. Based on country, the market in the region is segmented into China, India, Japan, South Korea, Vietnam, Singapore, Australia, and the Rest of Asia Pacific, out of which, the market in China is expected to touch USD 2373.4 Million by the end of 2030, up from USD 1029.4 Million in 2020. Further, the market in the country is also anticipated to hold the highest market share and further grow with a CAGR of 8.8% during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global high-throughput screening (HTS) market is segmented by products & services into consumables, instruments, software, and services. Out of these segments, the consumables segment is anticipated to grow with the highest CAGR of 8.6% during the forecast period and further attain the largest revenue of USD 15676.79 Million by the end of 2030, up from USD 6937.73 Million in the year 2020. In North America, the segment is projected to touch USD 6855.16 Million by the end of 2030, up from USD 3012.87 Million in the year 2020, while in the Asia Pacific, the segment is projected to grow with the highest CAGR of 8.8% during the forecast period. Moreover, in China, the consumables segment is projected to grow with the highest CAGR of 9% during the forecast period, and further touch revenue of USD 1022.93 Million by the end of 2030, while in India, the segment is projected to grow with the highest CAGR of 9.2% during the forecast period.
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The global high-throughput screening (HTS) market is further segmented on the basis of end-user into pharmaceutical & biotechnology companies, academic & government institutes, contract research organizations, and others. Out of these segments, the pharmaceutical & biotechnology companies segment is anticipated to garner the highest market revenue of USD 16331.54 Million by the end of 2030, up from USD 7403.21 Million in the year 2020. In North America, the segment garnered the largest revenue of USD 3174.39 Million by the end of 2020 and is further anticipated to grow with a CAGR of 8.4% during the forecast period. Further, in Europe, the academic & government institutes segment is projected to grow with the highest CAGR of 8.7% during the forecast period.
The global high-throughput screening (HTS) market is also segmented by technology, and by application.
Global High-Throughput Screening (HTS) Market, Segmentation by Technology
Global High-Throughput Screening (HTS) Market, Segmentation by Application
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Some of the prominent industry leaders in the global high-throughput screening (HTS) market that are included in our report are Agilent Technologies, Inc., Thermo Fisher Scientific, Tecan Trading AG, Promega Corporation, Hamilton Company, BPS Bioscience, Inc., PerkinElmer Inc., Merck KGaA, Carna Biosciences, Inc., Danaher Corporation, and others.
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