By region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. . North America accounted for the largest market share of 42.96% in 2022 and Asia-Pacific is projected to grow at the highest CAGR of 11.01% during the forecast period. Furthermore, market growth is driven by increasing clinical trial numbers across the globe, and growing research & development. Moreover, the below graph represents the number of clinical trials for each region started in 2022.
The market growth has been driven by inorganic strategies to expand high-throughput screening (HTS) solutions to measure biochemical activities and identify binding interactions, which accelerate the timeline and reduce costs to identify lead drug candidates.
For instance, in January 2023, Charles River Laboratories International, Inc. (US) acquired SAMDI Tech, Inc. (US), a leading provider of HTS solutions to expand HTS portfolio
Further, the major countries studied are: The US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, Australia.
The growth of the European high-throughput screening market is driven by promoting HTS projects to accelerate the discovery of a lead molecule for a new drug. For instance, in March 2023, SCREENTECH opened under the complementary plan for biotechnology in Catalonia (Spain). This initiative prioritized the development of new projects based on the drug screening and drug-target interaction analysis platform at IRB Barcelona (US).
Moreover, the high indulgence of high-throughput screening start-up developers such as CN Bio (UK), Evosep (Denmark), Ovizio (Belgium), and Oxford Nanopore Technologies plc. (UK) through raising funding and incorporating innovation is creating huge opportunities for the region’s growth. For instance, in February 2023, CN Bio (UK) launched the PhysioMimix single-organ higher throughput (HT) system.
The system was designed for earlier stages of the human liver model and through this large-scale drug discovery is possible. Furthermore, the Germany High Throughput Screening Market held the largest market share in 2022 and Rest of Europe High Throughput Screening Market is the fastest growing market in the Europe region.
The Asia-Pacific high-throughput screening market has shown immense growth in the last decade owing to increasing clinical trials. As per Pharma Intelligence UK Limited (UK), the Asia-Pacific (APAC) region accounted for 50% of clinical trial activity globally in 2021. Moreover, in APAC, China accounted for 45%, followed by Japan (21%), South Korea (13%), Australia (11%), and India (10%) in 2021.