Report : Asia Pacific High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Service (Consumables, Instruments, Accessories, Software, and Services), Technology (Cell-Based Assays, Lab-On-A-Chip, Ultra-High-Throughput Screening, Bioinformatics, and Label-Free Technology), Application (Drug Discovery, Biochemical Screening, Life Sciences Research, and Other Applications), and End User (Pharmaceutical and Biotechnology Companies, Academic)
The non-mechanical micropump segment by product type is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Material, Application, End User and Country.” The Asia Pacific high throughput screening market is expected to reach US$ 6,142.79 million by 2028 from US$ 3,321.07 million in 2021; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific high throughput screening market and the factors driving market along with those that act as hindrances.
Prime vendors have earmarked a few Asia Pacific countries that have huge potential for the drug discovery market. Research and development expenditure in countries such as China and India is growing, which has led to a rise in demand for high throughput screening (HTS) systems for conducting various genetic, chemical, and pharmacological tests that aid the drug discovery process starting from drug design to trials and interactions. Various countries in APAC are capable of adopting advanced HTS technologies; they are engaged in the development of cost-effective and high-performance systems to become advanced drug developers in the world. Governments of these emerging countries have also spent significantly on encouraging research in the life sciences industry. Moreover, the increasing interest of pharmaceutical companies in drug discovery outsourcing due to the ever-increasing demand for better drugs, limited drug pipelines, and rising R&D costs is further fueling the demand for HTS techniques in emerging markets. China and India have many contract research organizations that offer drug discovery services to serve pharmaceutical and biotechnology companies. Furthermore, the increasing incidence of various diseases in Asia Pacific has escalated the demand for novel drug discovery in the region. Governments are also enforcing regulations to encourage the use of high-throughput screening methods for various pharma and biotech companies. Furthermore, there is an increase in demand for high-throughput screening owing to the need for screening new chemical entities with more efficiency and productive optimization of drug molecules. Technological advancements in high-throughput screening techniques and the launch of innovative systems by various market players are expected to propel the market growth.
Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19 confirmed cases. However, many countries, such as South Korea, Japan, and Singapore, efficiently contained the situation through robust tracking and testing. This has increased the demand for high-throughput screening in the region. India is increasing its testing capacity to control the rising number of COVID-19 cases. New laboratories are being set up to conduct COVID-19 tests. State governments in the country are adopting various strategies to increase the testing capacity. The recent restrictions imposed by many countries in response to the recent COVID-19 outbreak have impacted ongoing clinical research. As these restrictions are now being lifted, the research activities are gaining momentum. The demand for clinical research is on the rise in Asia Pacific. Thus, the above-mentioned factors are positively impacting the market growth.
The Asia Pacific high throughput screening market, based on product and service and service is segmented into consumables, instruments, accessories, software, and services. The consumables segment is further sub-segmented into reagents and assay kits and laboratory equipment. Also, the instruments are further sub-divided into liquid handling systems and detection systems. The Asia Pacific high throughput screening market based on the technology was segmented into cell-based assays, lab-on-a-chip, ultra-high-throughput screening, bioinformatics, and label-free technology. The Asia Pacific high throughput screening market based on the application is segmented into drug discovery, biochemical screening, life sciences research, and other applications. The Asia Pacific high throughput screening market based on the end user was segmented into pharmaceutical and biotechnology companies, academic and government institutes, contract research organizations (CRO) and others. Geographically, the Asia Pacific high throughput screening market can be sub-segmented into China, Japan, India, Australia, South Korea and Rest of Asia Pacific
Agilent Technologies, Inc., Axxam S.p.A, Eurofins Scientific, Corning Incorporated, Molecular Devices, LLC., Hamilton Company, Perkin Elmer, Inc., THERMO FISHER SCIENTIFIC INC., MERCK KGaA and Tecan Trading AG are among the leading companies operating in the Asia Pacific high throughput screening market.
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