Global High Content Screening Products Market: Snapshot
Keen players in the global high content screening products market are pouring money into research and development of new technologically advanced instruments that would help the cause of designing new therapies for different ailments. In this manner they are trying to bolster their positions in the market. They are also resorting to mergers and acquisitions to expand their geographical outreach. Since the degree of competition in the global high content screening products market is relatively low at present, many aspiring players are planning to foray into it.
Increasing thrust on cell-based research, various initiatives to develop new drugs, and emergence of more sophisticated image analysis instruments are some of the factors that are serving to drive the global high-content screening (HCS) market. The increasing instances of chronic diseases requiring prolonged treatment such as HIV AIDS, epilepsy and Parkinson’s disease along with the growing requirement of determination and study of toxicity levels in the initial phases of drug discovery is also bolstering the market.
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Research organizations, pharmaceutical and biotechnology companies, and academic and research institutes are the end-use segments in the global high content screening products market.
As per Transparency Market Research, the global high content screening products market will likely rise at a CAGR of 8.0% from 2017 to 2022 to become worth US$1.23 bn by 2022.
Cost Effectiveness of High Screening Instruments Generates Demand in Market
Depending upon the type of products, the global high content screening products market can be segmented into consumables, microplates, instruments, software, and service. The consumables, among them, hold maximum market share at present. By expanding at a CAGR of 8.3% in the forecast period, the segment will become worth US$486.6 mn in 2022. The high screening instruments too account for a substantial share in the market because of their cost efficiency that results from deployment of LED light engines that brings down the intensity fluctuations and hence negates the need to switch to external illuminating sources.
High content screening software will likely grow at a healthy clip in the foreseeable future in the global high content screening market because of features such as confocal imaging and intuitive workflow interface. This helps to bring about development of three dimensional models allowing better evaluation, increased sensitivity precise image capture, and analyzation of more parameters which is predicted to generate more demand in the market in the upcoming years.
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Prevalence of Chronic Diseases Drives North America Market to Fore
From a geographical standpoint, North America leads the global high content screening market on the back of increasing prevalence of chronic diseases, a considerable population of elderly, rising collaborations of research institutes, carefully-considered mergers and acquisitions between companies, and an advanced healthcare infrastructure. The market in the region is predicted to clock a healthy 8.2% CAGR between 2017 and 2022. Rising at this pace it is expected to attain a value of US$402.1 mn in 2022.
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Europe follows North America vis-à-vis revenue generation in the global high content screening products market. It currently accounts for 25.8% revenue share in the global high content screening products market. This is mainly because of the substantial investments in healthcare and government regulations in the region. Vis-à-vis growth rate, Asia Pacific is projected to outpace all other regions. By the end of 2022, Japan high content screening products market is projected to reach US$113.1 mn, by registering a CAGR of 7.8% over the forecast period.
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