High Throughput Screening Market Projected to Reach $71.10 Billion by 2034, Flourishing at a CAGR of 10.64%, Driven by Rapid Expansion in Biotech and Pharmaceutical R&D

Dublin, Jan. 09, 2025 (GLOBE NEWSWIRE) — The “High Throughput Screening Market by Products and Services, by Technology, by Application, by End-User, and By Region” report has been added to ResearchAndMarkets.com’s offering.

The global high throughput screening (HTS) market, valued at USD 23.38 billion in 2023, is anticipated to experience robust growth over the next decade, culminating in an estimated market size of USD 71.10 billion by 2034. A compound annual growth rate (CAGR) of 10.64% is projected for the period spanning 2024-2034.

Global high throughput screening market is set to undergo significant growth with key segments and regions contributing to a dynamic industry landscape. Technological enhancements, increased emphasis on drug discovery, and the strategic adoption of HTS by major end-users define the current market trajectory poised for substantial development through 2034.

This considerable expansion can be attributed to significant advancements in biotechnology and pharmaceutical research and development (R&D), a heightened focus on personalized medicine, and enhanced technological developments in HTS platforms.

Innovations in HTS have revolutionized the pharmaceutical research landscape, chiefly through automation, miniaturization, and artificial intelligence (AI) integration. The effect of these enhancements has been a substantial improvement in screening efficiency and accuracy. These technological strides have made HTS more accessible and cost-effective, leading to a broader adoption across research labs and pharmaceutical entities.

The consumables segment considerably contributed to the global high throughput screening market revenue in 2023, driven by a demand surge for reagents, assay kits, and other vital screening components. Offering insights into the industry’s landscape, the cell-based assay technology retained dominance in 2023 due to its pivotal role in drug discovery and its capability to deliver physiologically-relevant outcomes that surpass traditional biochemical assays.

Pharmaceutical and biopharmaceutical companies emerged as pre-eminent end-users in the market, leveraging HTS technologies to expedite drug discovery while expanding their pharmaceutical pipelines. Drug discovery programs prevailed as the most revenue-generating segment, reflecting the industry’s commitment to rapidly parsing vast libraries of compounds for viable drug candidates.

Regionally, North America commands a substantial share in the market forecast period due to advanced pharmaceutical and biotech industries, coupled with robust investments in R&D activities backed by governmental support. Concurrently, the Asia Pacific region is projected to witness the most rapid growth, spurred by the burgeoning pharmaceutical sector, heightened R&D investments, and increased adoption of HTS technologies in countries such as China, India, and Japan.

Key Attributes:

Companies Featured

• Thermo Fisher Scientific Inc.
• PerkinElmer Inc.
• Agilent Technologies Inc.
• Eppendorf AG
• Corning Incorporated
• Bio-Rad Laboratories Inc.
• Roche Holding AG
• Sierra Instruments Inc.
• Tecan Group Ltd.
• Hamilton Company
• BMG LABTECH GmbH
• Danaher Corporation
• Sartorius AG
• MilliporeSigma (Merck KGaA)
• Promega Corporation.

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• Global High Throughput Screening Market