High Content Screening Products Market: Industry Analysis And Detailed Profiles Of Top Industry Players
Rising thrust on cell-based research, increasing initiatives for drug discovery, and emergence of more sophisticated image analysis instruments are some of the factors that are having a positive influence on the global high-content screening (HCS) products market. Research organizations, pharmaceutical and biotechnology companies and academic and research institutes are the end-use segments in the market.
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According to Transparency Market Research, the global high content screening products market will likely rise at a CAGR of 8.0% from 2017 to 2022 to become worth US$1.23 bn by 2022.
Here are the key insights into the global high content screening products market:
Government support across countries worldwide for cell-based research has been providing a major boost to the global high content screening products market. Other factors having an equally positive impact on the growth of the market are demand for improved technologies for cell research, emergence of sophisticated informatics solutions, and rising demand for better screening systems. Besides, pressing need to develop new drug molecules, demand for advanced cell-based imaging are also stoking the global high content screening products market.
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The increasing instances of chronic diseases, namely HIV AIDS, epilepsy and Parkinson’s disease that require intensive treatment along with the growing requirement of determination and study of toxicity levels in the initial phases of drug discovery is also providing a boost to the market.
The different types of products available in the global high content screening products market are consumables, microplates, instruments, software, and service. Of them, the segment of consumables accounts for maximum market share. By rising at a CAGR of 8.3%, the segment will become worth US$486.6 mn in 2022.
Geographically, North America is the leading market which is expected to register a CAGR of 8.2% in the forecast period. Rising at this rate, the market which is worth US$271.4 mn now in 2017 will likely become worth US$402.1 mn in 2022. Rising prevalence of chronic diseases, large pool of elderly, various collaborations with research institutes, strategic mergers and acquisitions, and superior healthcare infrastructure have served to propel the market in the region.
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In terms of contribution to revenue, Europe trails North America. It currently accounts for 25.8% revenue share in the global high content screening products market. This is mainly because of the substantial investments in healthcare and government regulations in the region. Vis-à-vis growth rate, Asia Pacific is projected to outpace all other regions. By the end of 2022, Japan high content screening products market is projected to reach US$ 113.1 mn, expanding at a CAGR of 7.8% over the forecast period.
Some of the prominent participants in the global high content screening products market are Thermo Fisher Scientific, Molecular Devices, GE Healthcare, PerkinElmer Inc., Becton, Dickinson and Company, Thorlabs, Inc., Merck KGaA, Cell Signaling Technology, Genedata AG, and Yokogawa Electric Corporation. These companies are expending time and money in developing novel technologies to satisfy unmet medical needs. They are also focusing on mergers and acquisitions in order to expand their market share.
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