Report : South and Central 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 consumables segment by product and service is estimated to lead the market growth during the forecast period.
According to a new market research study of “South and Central America High Throughput Screening Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product and Service, Technology, Application, End User and Country.” The South and Central America high throughput screening market is expected to reach US$ 1,121.75 million by 2028 from US$ 659.10 million in 2021; it is estimated to grow with a CAGR of 7.9% from 2021 to 2028. The report highlights trends prevailing in the South and Central 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. Large pharmaceutical companies invest up to US$ 35 million annually in screening technologies. The major proportion of these investments goes into the development of new assays. Thus, an increase in investment in research and development by the pharmaceutical and biotechnology industry is expected to 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 HTS techniques and the launch of innovative systems by various market players are expected to propel the market growth.
South and Central America have been witnessing a growing number of COVID-19 cases since its outbreak. State-run hospitals and clinics are already overstressed due to the treatment of vector?borne diseases, community?acquired infections, and high rates of non?communicable diseases (NCDs). The consequences of a lack of investment in public healthcare systems are being greatly witnessed during the pandemic. The COVID?19 pandemic is exacerbating these inequalities by exposing the inadequate infrastructure and capacity of government?owned healthcare systems. Thus, the factors mentioned above are negatively impacting the growth of the market in the region.
The South and Central 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 South and Central 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 South and Central America high throughput screening market based on the application is segmented into drug discovery, biochemical screening, life sciences research, and other applications. The South and Central 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 South and Central America high throughput screening market can be sub-segmented into Brazil, Argentina and Rest of South and Central America.
Agilent Technologies, Inc., Axxam S.p.A, 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 South and Central America high throughput screening market.
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