Press release
High-Throughput Screening (HTS) Market by Product (Instrument, Consumable, Service), Technology (Cell-based Assays, Lab-on-a-Chip, Label-free), Application (Drug Discovery, Life Sciences Research), End User (Pharma, Biotech, CRO) - Global Forecast to 2028
High-Throughput Screening (HTS) Market
The global high-throughput screening market size is projected to reach USD 44.5 billion by 2028 from USD 25.6 billion in 2023, at a CAGR of 11.6% during the forecast period. Increase in government funding and venture capital investments is one of the high impact drivers of the high throughput screening market. In March 2023, Iktos, a company specializing in artificial intelligence for new drug discovery, today announces the closing of a 15.5 million euros (USD 16 Mn) Series A financing co-led by new investors M Ventures and Debiopharm Innovation Fund with participation from Omnes Capital. This financing will enable the company to further develop its AI and drug discovery capabilities and expand its existing SaaS software offering, in addition to launching Iktos Robotics.
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"The services segment is set to register highest growth rate during 2023-2028 in HTS market"
The high-throughput screening market is segmented into consumables, instruments, services, and software. HTS services have emerged as a lucrative market space, with fastest growth in the market registered through the forecast period. Routine adoption of outsourcing of HTS services by pharmaceutical companies, including lead identification, screening, toxicology, and other preclinical studies contributes to the segment growth.
"CRO end user segment is set to witness the highest growth rate in the HTS market"
Based on end user, the high-throughput screening market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations (CROs) and other end users. The key factor driving the growth of this segment includes trend of outsourcing of R&D activities by pharmaceutical and biotechnology companies. In recent years, due to the enormous pressure to contain fixed costs, outsourcing has evolved as a strategic alternative for pharmaceutical & biopharmaceutical companies due to the lack of in-house resources required for new product development and the need for cost & time savings.
"Drug Discovery segment accounted for the highest CAGR"
Based on application, the high-throughput screening market is segmented into drug discovery, biochemical screening, life sciences research and other applications. The drug discovery segment is set to grow at the fastest pace throughout 2023 to 2028. The key factor driving this segment's growth is the increasing number of clinical trials and rising pharmaceutical R&D expenditure. Continuous advancements in HTS technologies, such as automation, miniaturization, and high-content screening, are impacting the growth of the segment. Automation enables the handling and screening of large compound libraries with high precision and throughput, improving efficiency and reducing costs.
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