The global high-throughput screening (HTS) market is expected to grow at a CAGR of 11.6% during the forecast period. The growth of this market is driven by increasing R&D spending in the HTS market. Increased R&D spending can serve as a driving force for the HTS market due to expanded drug discovery efforts, a focus on personalized medicine, technological advancements, and collaborative research efforts.

The report High-Throughput Screening (HTS) Market is projected to reach USD 44.5 billion by 2028 from USD 25.7 billion in 2023, at a CAGR of 11.6% during the forecast period of 2023 to 2028.

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Key Market Drivers: -

1.1 Growing adoption of open innovation models in pharmaceutical & biotechnology companies
1.2 Government funding and venture capital investments
1.3 Increasing R&D spending
1.4 Technological advancements

Market Segmentation: -

On the basis type of product & service, the high-throughput screening market is broadly segmented into consumables, instruments, services, and software. In 2022, consumables accounted for the largest share of the high-throughput screening market. This can primarily be attributed to the wide use of reagents & assay kits in HTS techniques, increasing pharmaceutical R&D, and rising government funding for life sciences research.
Based on application, the high-throughput screening market is categorized into drug discovery, biochemical screening, life sciences research, and other applications. The drug discovery application segment accounted for the largest share of the high-throughput screening market in 2022. The key factor driving this segment's growth is the increasing number of clinical trials and rising pharmaceutical R&D expenditure.

Regional Analysis: -
Geographically, the high-throughput screening market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2022, North America accounted for the largest share of the high-throughput screening market, followed by Europe and Asia Pacific. The large share of North America in the global market is attributed to the increasing prevalence of diseases, rising pharmaceutical R&D expenditure, and the presence of major players in the region are factors driving the growth of the HTS market in this region.

Market Opportunity: -
Emerging markets like China, India, and Brazil have experienced rapid expansion in the life science and biotechnology sectors in recent years. These regions have a significant pool of talented researchers, physicians, and scientists who are actively pursuing research in these fields. Additionally, government initiatives in emerging markets play a crucial role in promoting the adoption and development of HTS technologies. Governments can establish regulatory frameworks and guidelines to ensure the safe and ethical use of HTS technologies.

Recent Developments of High Throughput Screening Industry
• In February 2023, Agilent Technologies, Inc. launched the on-deck thermal cycler that integrates with the Agilent Bravo NGS automated liquid handling platform.
• In February 2023, PerkinElmer Inc. launched the Multimode Plate Reader for high-throughput screening (HTS) applications and to accelerate drug discovery efforts.

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Top Key Players: -
Key players in the high-throughput screening (HTS) market include Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), PerkinElmer, Inc. (US), Tecan Trading AG (Switzerland), AXXAM S.p.A (Italy), Promega Corporation (US), Bio-Rad Laboratories, Inc.(US), Promega Corporation (US), Hamilton Company (US), Corning Incorporated (US), Charles River Laboratories (US), Lonza (Switzerland), REPROCELL Inc. (Japan), Aurora Biomed (Canada), BMG LABTECH (Germany), DIANA Biotechnologies, s.r.o. (Czech Republic), NanoTemper Technologies GmbH (Germany), Creative Biolabs (US), Biomat Srl (Italy), HighRes Biosolutions (US), Cyclica Inc. (Canada), Crown Bioscience (US), and Sygnature Discovery (UK).