A popular method of scientific experimentation, high throughput screening (HTS) is used in drug discovery and several other closely associated fields like chemistry, biology, pharmaceuticals, and so on. This process allows researchers to conduct millions of genetic, chemical, and pharmacological tests in no time. Rapid identification and speedy testing process are some of the strongest drivers for the global high throughput screening market. Growth in drug outsourcing and expansion of healthcare sector in emerging markets are also expected to play key role in the growth of this market.
Segments and Drivers for HTS Industry
As mentioned before, high throughput screening technology is gaining momentum with the amount of ease it brings in the chemical, biological, genetic, and other such testing and screening processes. Rising demand and deployment of this technology in developed as well as developing regions are the key market drivers. Innovations in terms of technology has also increased applications segment of the industry. Global high throughput screening market is segmented on the basis of the types of technologies, products, applications, end-users, and geography. Following are the details of the segments and sub-segments of the market:
- Products: Consumables, reagents, instruments, software, and services
- Technology: Ultra HTS (uHTS) lab-on-a-chip, cell based essay, bioinformatics, and label free technology
- Applications: Primary screening, stem cell biology, target identification, toxicology, and others
- End-Users: Biotechnology, pharmaceuticals, contract research, academic, and government organizations
- Geography: Asia, Europe, North America & rest of the world
Trends and Growth Prospects
High research and development costs, shortage of strong candidates in production, and direct detection provisions of the HTS technology are expected to drive the industry at impressive rate. Open innovation models, increasing initiatives for drug discovery, large untapped market in emerging regions, and outsourcing growth in developing countries like India and China are expected to help the industry grow at a steady growth rate. According to the experts, high throughput screening market is expected to maintain a healthy CAGR of over 7% from 2013 to 2018. At the anticipated CAGR, the market is expected to reach $19,627 million by 2018. The global market for HTS technology was poised at $13,736 million in 2013.
Research claims that North America is poised to dominate the global market in terms of market shares and revenue channels. The region is seconded by Europe. During the forecasting period, Asia Pacific region and especially the countries like China and India are anticipated to witness impressive growth in terms of demand and applications. This is expected to be a heartening trend for the global high throughput screening market. Asia is expected to maintain CAGR of over 9% during the forecasting period.