Europe High Throughput Screening Market Growth Sturdy at 8.1% CAGR to Outstrip US$ 8,578.43 million in 2028 - COVID-19 Impact and Regional Analysis by Business Market Insights

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 register a CAGR of 8.1% from 2021 to 2028.

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The "Europe high throughput screening market", based on product and service, is sub segmented into consumables, instruments, accessories, software, and services. The consumables segment is further sub segmented into reagents, assay kits, and laboratory equipment. Furthermore, the instruments are sub-divided into liquid handling systems and detection systems. In 2021, the consumables segment is expected to hold the largest share of the market and is expected to register the highest CAGR during 2021-2028.

High-throughput screening (HTS) is a drug discovery process that allows automated testing of large numbers of chemical and/or biological compounds for a specific biological target. High-throughput screening methods are extensively used in the pharmaceutical industry, leveraging robotics and automation to quickly test the biological or biochemical activity of many molecules, usually drugs. They accelerate target analysis, as large-scale compound libraries can quickly be screened in a cost-effective way. HTS is a useful tool for assessing for instance pharmacological targets, pharmacologically profiling agonists and antagonists for receptors (such as GPCRs) and enzymes.

Some of the companies competing in the Europe High Throughput Screening Market are
• 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
• Tecan Trading AG

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Driving factors such as an increase in investment in research and development by the pharmaceutical and biotechnology industry and the introduction of technologically advanced products in the high throughput screening market are driving the growth of the market. However, the lack of proper automation methods is obstructing the growth of the market.

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 scope of the Report:
The report segments the regional Europe High Throughput Screening Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the regional Europe High Throughput Screening Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

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Reasons for buy this Report
• Highlights key business priorities to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Europe High Throughput Screening Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those hindering it.

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