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(Health-NewsWire.Net, May 25, 2021 ) The major factors that are expected to be driving the high content screening market are need for cost containment in pharma R&D, growth in funding for cellular research, and technological advancements in HCS solutions are expected to support the growth of the HCS market during the forecast period. On the other hand, the high cost of HCS instruments and the dearth of knowledgeable and skilled personnel for the operation of high-content screening instruments are expected to restrain the market growth to a certain extent.
[166 Pages Report] MarketsandMarkets forecasts the high content screening market to grow from USD 557.1 million in 2017 to USD 909.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period
The HCS instruments market accounted for the largest share of HCS market primarily attributed to advances in instrumentation and automation techniques and high prices of the HCS instruments. The software segment is expected to register the highest growth during the forecast period.
Market Dynamics
1. Need for Cost Containment in Pharmaceutical R&D
2. Government Funding and Venture Capital Investments Across Developed Markets
3. Advancements in Informatics Solutions and Imaging Instruments
Need for cost containment in pharmaceutical R&D
According to the California Biomedical Research Association (CBRA), it takes an average of 12 years for a drug to travel from the research lab to the patient, including 1–6 years for toxicology studies alone. In addition, only five in 5,000, or 10%, of the drugs that begin preclinical testing ever make it to human testing. Out of these five, only one is approved for human usage.
The Tufts Center for the Study of Drug Development (U.S.) report published in the Journal of Health Economics in March 2016 estimates that the average cost to develop and gain a marketing approval for a new drug amounted to USD 2.56 billion. The high cost and long duration of drug development are compelling pharmaceutical companies to revise their R&D expenditure.
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HCS is used in several stages of the drug discovery process, including primary and secondary screening, target identification and validation and toxicity studies. As HCS instruments are expensive, they add to the overall drug development expense for pharmaceutical and biopharmaceutical companies. Moreover, budgetary restrictions among academic institutes restrict the purchase of these instruments.
The geographical regions mapped in the report are:
1. North America
2. Europe
3. Germany
4. Asia-Pacific
5. Latin America
6. Middle East & Africa
North America is the largest market for high-content screening, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. High R&D expenditure, the presence of major pharmaceutical market players, and increasing government support are some of the factors contributing to the large share of North America in the market. However, the Asia-Pacific market is expected to register the highest growth during the forecast period owing to increased research in drug discovery, government initiatives, growing focus of multinational companies on emerging markets, and developing R&D infrastructure.
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Some key players mentioned in the research report are:
GE Healthcare (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Tecan Group (Switzerland), BioTek Instruments Inc. (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories (U.S.), Yokogawa Electric Corporation (Japan), and Merck Millipore (U.S.)
Danaher Corporation is a market leader of the global high-content screening market. The company designs, manufactures, and markets professional, medical, industrial and commercial products and services. Through its subsidiaries, the company offers solutions in the market
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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