Report : Europe 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 and Government Institutes, Contract Research Organizations (CRO), and Others)
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 “Europe High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Material, Application, End User and Country.” The Europe high throughput screening market is expected to reach US$ 8,578.43 million in 2028 from US$ 4,968.81 million in 2021; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The report highlights trends prevailing in the Europe high throughput screening market and the factors driving market along with those that act as hindrances.
The market is witnessing the use of artificial intelligence (AI) in high-throughput screening (HTS). Using AI in HTS is an important objective of the pharmaceutical and biotech industry. Using AI-based data processing/control software, liquid handling systems, and sensitive detectors, and high-throughput screening allows a researcher to quickly conduct millions of chemicals, genetic, or pharmacological tests. Through this process, one can rapidly identify active compounds, antibodies, or genes that modulate a biomolecular pathway. Most of the top biopharmaceutical companies have started internal programs and are collaborating to develop AI platforms for increasing the research power of immuno-oncology drugs, metabolic-disease therapies, cancer treatments, and many other therapeutic targets. In July 2020, Cerevel Therapeutics—a company dedicated to research and development in neuroscience diseases therapeutics—and Cyclica—an AI-based drug discovery company—entered into a collaboration to accelerate the discovery of novel medicines in neuroscience. Cyclica’s world-class AI platform for high-throughput screening in compound identification and optimization can efficiently identify new therapeutic molecules for Cerevel Therapeutics. Such strategic developments show that AI-based high-throughput screening technologies will revolutionize drug discovery. Furthermore, there is an increase in demand for high-throughput screening owing to the need for screening new chemical entities with more efficiency, as well as ensure productive optimization of drug molecules. Technological advancements in high-throughput screening techniques and the launch of innovative systems by various market players are driving the market growth.
The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Due to the second wave of COVID-19 cases, the governments of many countries are working toward scaling up testing capacity, which is driving the growth of the market. Many pharmaceutical companies in the region are actively engaged in the development of COVID-19 vaccine and drugs. Moreover, as part of the UK government’s announcement of a new plan to boost testing for COVID-19, GSK, AstraZeneca, and the University of Cambridge have collaborated to take action to support this national effort for boosting the testing segment. A new testing laboratory will be set up by GSK, AstraZeneca, and Anne McLaren laboratory- University of Cambridge. This facility will be used for high-throughput screening for COVID-19 testing and to explore the use of alternative chemical reagents for test kits in order to help overcome supply shortages. These factors will help boost the market growth.
The Europe 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 Europe 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 Europe high throughput screening market based on the application is segmented into drug discovery, biochemical screening, life sciences research, and other applications. The Europe 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 Europe high throughput screening market can be sub-segmented into Germany, France, Spain, Italy, United Kingdom and Rest of Europe.
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 Europe high throughput screening market.
Contact Person: Sameer Joshi
Email Id: email@example.com