Report : North America 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 “North America High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Material, Application, End User and Country.” The North America high throughput screening market is expected to reach US$ 11,271.20 million by 2028 from US$ 6,285.41 million in 2021; it is estimated to grow with a CAGR of 8.7% from 2021 to 2028. The report highlights trends prevailing in the North America high throughput screening market and the factors driving market along with those that act as hindrances.
An increase in R&D investments by pharmaceutical and biotechnology companies and extensive drug pipelines for the treatment of various chronic diseases such as cancer, cardiovascular disorders, metabolic disorders, immunological disorders, and neurological disorders are the prominent drivers for the high throughput screening market. Several big and small pharmaceutical companies are engaged in the development and manufacturing of new and novel molecules for various life-threatening conditions. This has led to the adoption of automated high-throughput screening (HTS) techniques to screen huge chemical libraries to meet the needs of ever-increasing drug target molecules. Pharma and biotech companies have substantially invested in high throughput screening techniques in the past decade. High-throughput screening has been regarded as a key technology in the drug discovery process. More than US$ 2.5 billion are annually spent on HTS products and HTS services in the US alone. Large pharmaceutical companies invest up to US$ 35 million annually in screening technologies. The major proportion of these investments goes in the development of new assays. Thus, an increase in investment in research and development by pharmaceutical and biotechnology industry will help boost the market growth. Furthermore, there is an increase in demand for high throughput screening owing to the need for screening the new chemical entities with more efficient 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.
North America has been witnessing a growing number of COVID-19 cases since its outbreak. At present, the majority of the diagnostic laboratories and research institutes are engaged in diagnosing COVID-19 patients. Currently, the COVID-19 diagnostic testing industry is witnessing an upsurge on account of a growing number of cases coupled with the increasing emergency use authorizations of testing from the regulatory bodies. In addition, with the WHO declaring the COVID-19 outbreak a pandemic, a mix of established pharmaceutical and biopharmaceutical companies and small start-ups have stepped forward to develop treatments that target the infection. Moreover, researchers and physicians in several countries focus on various other existing drugs to examine their potential to treat COVID-19. An increase in drug discovery projects for the development of COVID-19 treatments is expected to drive the growth of the market as high-throughput screening products are used for drug discovery.
The North America 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 North America 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 North America high throughput screening market based on the application is segmented into drug discovery, biochemical screening, life sciences research, and other applications. The North America 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 North America high throughput screening market can be sub-segmented into U.S. Mexico and Canada.
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 North America high throughput screening market.
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