According to FutureWise analysis the market for High Throughput Screening in 2023 was US$ 18 billion, and is expected to reach US$ 33 billion by 2031 at a CAGR of 8%.
A drug discovery approach known as high-throughput screening (HTS) allows for the automated evaluation of many chemical and/or biological molecules for the presence of a certain biological target. In the pharmaceutical business, high-throughput screening techniques are frequently used to rapidly examine the biological or biochemical activity of a large number of compounds. These techniques make use of robots and automation. High-throughput screening enables a researcher to quickly carry out millions of genetic, chemical, or pharmacological experiments using robotics, liquid handling equipment, data processing/control software, and sensitive detectors.
The number of high-throughput screening devices that are open to the public has significantly increased during the last several years. The scale of these facilities ranges from sizable molecular libraries and probe centre networks to modestly equipped university screening facilities. In order to conduct primary and secondary screening campaigns, these facilities employ both traditional and advanced assay technologies, offering a full way of probe discovery in educational institutions. The market is influenced by the growing use of high-throughput screening for developing drugs, which shortens the time needed to produce a medicine, and by an increase in government financing for the adoption of new technologies like CRISPR-Cas9 and RNAi and artificial intelligence, among others. Additionally, the high throughput screening market is favourably impacted by increases in healthcare spending, disposable income, end-of-use industries, and awareness.
FutureWise Market Research has published a report that provides an insightful analysis of High throughput screening market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts’ projects that the High throughput screening market will experience a significant growth. According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.