Originally published by Technavio. The high throughput screening market is anticipated to experience significant growth, with an estimated increase of USD 19.9 billion at a Compound Annual Growth Rate (CAGR) of 12.12% between 2023 and 2028. This growth is primarily driven by the rising incidence of chronic diseases, while increased promotional efforts emerge as a notable trend. However, challenges such as import duties and distribution issues in developing nations pose constraints on market expansion.

Key findings from the market report include historical high levels of the high throughput screening (HTS) market from 2018 to 2023. The market is segmented based on application, end-user, and geography, with target identification and validation accounting for the largest revenue in 2018 within the application sub-segment.

The application segment encompasses target identification and validation, primary and secondary screening, toxicology assessment, and stem cell research. Meanwhile, the end-user segment includes pharmaceutical and biotechnology companies, academic and research institutes, and Contract Research Organizations (CROs). Geographically, key regions covered include North America, Europe, Asia, and the Rest of the World (ROW).

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In terms of market dynamics, the target identification and validation segment is expected to witness significant growth during the forecast period. Factors such as a growing pipeline for biological candidates, continued outsourcing from pharmaceutical companies, and increased demand for accurate analytical details on drugs are anticipated to drive this growth.

Furthermore, the increasing prevalence of chronic diseases acts as a key driver for market growth, as high throughput screening facilitates the screening of small molecules in the drug discovery process. Despite challenges such as import duty and distribution issues in developing countries, advancements in target identification and validation, aided by technologies like AI and ML algorithms, are expected to foster market growth.

Promotional activities emerge as a significant trend in shaping market growth, with key players recognizing the importance of awareness programs. However, import duty and distribution issues in developing countries remain a challenge, hindering market growth.

Regionally, North America is forecasted to be the largest revenue contributor, with the US and Canada leading due to their stable economies, robust infrastructure supporting drug launches, and substantial investments in research and development. Additionally, growing support for disease-related research in the biotechnology and pharmaceutical sectors contributes to market growth in these regions.

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