HCS Software and Services Market Expected to Witness a CAGR of 6.9% through 2017-2022
According to the analysis of Transparency Market Research (TMR), the global HCS software and services market is predicted to reach a revenue valuation of approximately US$1.1 bn by the end of 2022, progressing from a valuation of around US$0.8 bn achieved in 2017. During the forecast period 2017–2022, the market could rise at a 6.9% CAGR.
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Global HCS Software and Services Market: Major Insights
The sales of HCS instruments are prognosticated to be boosted with the towering demand for novel cell analysis technologies due to enlarging drug discovery processes and improved toxicity studies. The demand in the world HCS software and services market could be increased by the development of solutions offering significant sensitivity in determining problems as serious as hepatotoxicity. This could be on account of the rising significance of the risk assessment of severe diseases for drug discovery across a range of biotechnology and pharmaceutical companies.
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Although the high cost of HCS instruments could negatively impact growth, their growing demand for providing comprehensive offerings to lab services is foreseen to help the world HCS software and services market achieve a healthy comeback.
The world HCS software and services market is projected to be segregated as per product type classification into two segments, i.e. HCS services and HCS software. According to the publication, the HCS services market could exhibit dominance with its superior valuation of close to a US$0.8 bn anticipated to be attained by 2022. The market could also be dependent on industry segments such as bio, educational institutions, government organizations, independent contract research organizations (CROs), and pharmaceutical and healthcare. As per application, the market is forecasted to be categorized into toxicity studies, target identification and validation, primary and secondary screening, and compound profiling.
By region, players operating in the world HCS software and services market could find opportunities prevailing in North America, the Middle East and Africa (MEA), Latin America, Europe, and Asia Pacific except Japan (APEJ) and Japan. With a 7.5% CAGR prophesied to be posted during the course of the forecast period, North America is envisaged to register a dominating share in the market on the basis of revenue.
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Global HCS Software and Services Market: Vendor Landscape
Among the leading companies, Thermo Fisher Scientific, Inc., General Electric Company, Becton, Dickinson & Company, PerkinElmer, Inc., Yokogawa Electric Corporation, Olympus Corporation, Merck & Co., Inc., Thorlabs, Inc., Sysmex Corporation, and Danaher Corporation are envisioned to showcase their prominence in the worldwide HCS software and services market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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