Key players within the global high content screening products market are investing extensively in research and development so as to come up with new technologically advanced instruments for designing new therapies to treat various ailments. This strategy is being used by key players to strengthen their position in the market. Another strategy adopted by leading players is to collaborate, partner, merge or acquire other companies so as to expand their geographical reach. With the degree of competition currently being low in the global high content screening products market many aspiring players are attempting to enter this market on account of its high attractiveness, states Transparency Market Research (TMR) in its latest research report. Key players within the market include Thermo Fisher Scientific, GE Healthcare, Molecular Devices, PerkinElmer Inc., Dickinson and Company, Becton, Thorlabs, Inc., Merck KGaA, Genedata AG, Cell Signaling Technology, and Yokogawa Electric Corporation.
According to TMR, the global high content screening products market will expand at an 8% CAGR from 2017 to 2022 and be worth US$1.23 bn by 2022. On the basis of product, the consumable segment is anticipated to expand at a high CAGR of 8.3% between 2017 and 2022 and reach an evaluation of US$486.6 mn by 2022
Advanced Healthcare Infrastructure in North America Supports Growth of High Content Screening Products
On the basis of geography, North America is currently leading in the global high content screening market on account of the high prevalence of chronic diseases, increasing geriatric population, advanced healthcare infrastructure, rising collaborations of research institutes, and the presence of well established players within this region. North American market for high content screening products is expected to exhibit a high CAGR of 8.2% from 2017 to 2022 and reach an evaluation of US$402.1 mn by 2022. Europe is estimated to emerge as the second leading regional segment and is currently accounting for 25.8% of the total revenue in the global high content screening products market. Substantial investments by the government in the healthcare sector are one of the key reasons behind the growth of the European market for these products. Asia Pacific is anticipated to beat all other regions, with Japan single handedly responsible for generating a revenue of US113.1 mn and exhibiting a CAGR of 7.8% between 2017 and 2022.
Increasing Cell-based Research to Drive Demand for High Content Screening
High content screening is finding extensive application in the field of drug discovery and biological research. This in turn is fueling the demand for high content screening products. With the growing number of cell based research, emergence of sophisticated image analysis instruments, and growing initiatives taken by pharmaceutical companies, research organizations, and biotechnology companies for drug discovery, the market for high content screening products is slated to witness a high growth. Some of the key factors driving the growth of this market is the increasing prevalence of Parkinson's disease, HIV, AIDS, epilepsy, and other chronic diseases which require intensive treatment as well as the need to determine and study toxicity levels in the initial phase of drug discovery.
Increased Pressure to Develop New Drugs on Account of High Prevalence of Chronic Diseases to Spur Growth of Market
The demand for improved technology for cell research, better screening systems, and emergence of sophisticated informatics solutions will also aid the growth of the market. The demand will also be boosted by the growing support received from governments across the world for cell based research. Increasing prevalence of diseases has also pressurized and created a heighted need to develop new drug molecules and propelled the demand for advanced cell-based imaging. The in turn is expected to drive the growth prospects of the global high content screening products market.
This review is based on Transparency Market Research’s report, titled “High Content Screening Products Market (Product Type - Consumables, Microplates, Instruments, Software, and Service; End Users - Pharmaceutical and Biotechnology Companies and Academic and Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2022.”
The market is segmented as follows:
- Software and Service
- Academic and Research Institute
- Pharmaceutical and Biotechnology Companies
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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