High-Throughput Screening Market Trends

Growth Drivers

• Growing Demand for Drugs– On account of the increasing prevalence of chronic disorders across the globe has increased the demand for medicines for treatment. Further, the growing use of HTS for the drug development process is estimated to drive market growth. The number of drug users worldwide is expected to increase by over 10% by 2030.

• Rising Geriatric Population – Owing to a weak immune system elderly population is more prone to various diseases such as dementia, high blood pressure, and diabetes, which is estimated to drive market growth. As of 2021, the elderly population in India is predicted to increase by over 9%.

• Increasing Health Spending – Increased government programs and investments in medication research, are anticipated to drive the market growth According to the most recent expenditure data, in 2020, health spending in the US rose by over 9%.

• Growing Pharmaceutical and Biotechnology Sectors – It is expected that the growing launch of new and advanced drugs, and strong investment in the biotech and pharmaceutical industries, are anticipated to drive market growth. According to estimates, the biotechnology sector in India has grown to a value of over USD 80 billion in 2022.

Challenges

• Difficulties in Assay Development – To create secondary assays, HTS goes through several difficult stages. It is more costly since the complexity of the assay affects both the time and cost, as a result, it is less adopted by some academic research laboratories.
• Exorbitant Cost of HTS Instruments– High maintenance costs, and other indirect expenses, increase the total cost of HTS instruments, which is one of the major factors predicted to slow down the market growth.
• Need for a Large Capital Investment
• Lack of Skilled Professionals