Dallas, TX -- (SBWIRE) -- 02/11/2014 -- “Technological Advancements and Flourishing Outsourcing Industry Likely to Propel the Growth of the Global High Throughput Screening (HTS) Market”
In this report, the global high throughput screening (HTS) market has been segmented on the basis of technology, products, applications, end users, and geography. The label-free technology market is expected to grow at the highest CAGR of 11.1% from 2013 to 2018. This technology offers the direct detection ability, which was not possible with cell-based assays. Moreover, this technology helps in the reduction of drug failure rate due to toxicity and is applicable for a majority of drug classes.
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In the HTS applications market, the target identification segment accounted for the largest share in 2013. The large share of this segment can be attributed to factors such as the availability of large compound libraries, presence of well-equipped HTS laboratories, and technological advancements. Large pharmaceutical and biotechnology companies are investing heavily in automation of HTS laboratories and are also entering into strategic partnerships and collaborations with research institutes, thereby leading to efficient utilization of HTS in varied application fields. However, the primary screening segment of the HTS market is estimated to register the highest growth rate. This can be attributed to the availability of a large number of potential lead compounds, emergence of several new detection technologies, and availability of novel primary and stem cell phenotypes. The HTS market by end users is broadly categorized into pharmaceutical companies, biotechnology companies, academic and government institutes, contract research organizations (CROs), and others. The pharmaceuticals segment dominated the market with a market share of around 48% in 2013.
The global HTS market is in its growth phase and is poised to cross the $19 billion mark by 2018. The factors responsible for the growth of this market include technological innovations, open innovation models adopted by pharmaceutical companies, increasing drug discovery initiatives by academic institutions, and huge capital investments in the HTS technology by organizations. Moreover, the presence of a large untapped market in emerging countries and growth in outsourcing of drug discovery services especially in China and India are the various growth opportunities for this market.
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Over the next five years, Asia is expected to grow at the highest CAGR of 9.1%. Factors such as growth in investments as well as the growth in the outsourcing industry, and favorable economic conditions are responsible for the high growth of the HTS market in Asia.
This research report covers a detailed analysis of various aspects of the HTS market, including the views on emerging and high-growth segments of HTS, emerging technologies, and high-growth regions. The report also discusses the drivers, restraints, opportunities, and the competitive landscape including key players in the HTS market along with their product portfolios, developments, and the strategies adopted by these players to maintain and grow their market shares in the near future. The above mentioned market research data, current market size, and the forecast of future trends will help established players and new entrants to make the necessary strategic decisions regarding investments in product development and market development and/or diversification. This data would also help companies to plan their product offerings, geographic focus, strategic approach, and R&D investments for innovation in their products and technologies and levels of output, in order to gain a competitive edge.
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