Latest News- High Throughput Screening (HTS) Market: Target identification and validation is expected to lead the Application segment during 2024-2028

The High Throughput Screening (HTS) Market is being driven by Rise in R and D investments

The High Throughput Screening (HTS) Market is expected to grow at a CAGR of 12.12% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 19.9 billion. In the High Throughput Screening (HTS) market, the focus shifts from brand and product visibility towards enhancing product distribution networks and availability for niche end-users. Vendors face unique challenges in marketing HTS solutions due to their specialized nature. Thermo Fisher Scientific recognizes this challenge and offers additional resources to support customers, including detailed explanations of techniques through documents, brochures, and interactive videos on platforms like YouTube. Key players in the market are leveraging digital channels to promote HTS usage, bridging the awareness gap. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in R and D investments
• Increasing prevalence of chronic diseases
• Patent expiration of drugs

However, the market also witnesses some limitations, which are as follows:

• Shortage of trained healthcare professionals
• High cost of drug discovery process and limitations of HTS
• Import duty and distribution issues in developing countries

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Market Scope in High Throughput Screening (HTS) Market Research Report

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Research Analysis Overview

The Global healthcare sector is witnessing a paradigm shift towards High Throughput Screening (HTS) in drug discovery, driven by Pharma companies seeking to accelerate the development of new therapies for various diseases. HTS utilizes open innovation models, enabling collaboration between research organizations, pharmaceutical corporations, biotech startups, and academic institutions. This approach leverages chemical databases, data integration, retrieval, organization, storage, and management systems to screen large compound libraries for potential drug candidates. HTS employs high-resolution imaging systems, microplate readers, and robotic arms to automate the screening process. It's not just limited to new drug discovery but also extends to drug repurposing, as seen with Adcetris from Seagen, which was initially developed for Hodgkin lymphoma but later found to be effective for other types of cancer. HTS plays a crucial role in addressing complex illnesses like neurological disorders, further expanding its application scope. The future of HTS lies in advanced data analytics and continuous innovation to improve efficiency and accuracy in the quest for new therapeutic solutions.

Market Research Overview

According to Technavio, the global High Throughput Screening (HTS) market is a significant segment of the expansive USD132.53 billion global life sciences tools and services industry. This market encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, accessories, and consumables, used for R&D of pharmaceuticals, biotechnology products, and laboratory diagnosis of diseases. Additionally, this sector includes life sciences-related services, including contract research, contract manufacturing, and contract sales. The global life sciences tools and services market is projected to grow moderately during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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