According to the deep-dive market assessment study conducted by Growth Plus Reports, the global high content screening market was pegged at ~US$ 1.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~8.6% from 2022 to 2030.
The global high content screening market is anticipated to experience lucrative market expansion because of the increasing demand for the creation of novel drug molecules as a result of the existence of outdated medication therapies with reduced efficacy. The rising prevalence of chronic illnesses including cancer, HIV/AIDS, epilepsy, and Parkinson's disease that require intensive care is another factor contributing to the growing need. Another significant market driver is the growing requirement for toxicity level analysis and determination during the early stages of drug research. the World Health Organization (WHO) estimated that by 2031 there will be around 13.1 billion cancer-related deaths globally. Moreover, it predicts that between 2008 and 2031, the prevalence of cancer will rise by around 75% worldwide. So, there will be more patients undergoing cancer management and therapy as a result of the rising cancer incidence worldwide. As a result, the market for high content screening would develop as there would be a greater demand for more new biologics.
The use of multicoloured fluorescence-based reagents, polarisation techniques, automated imaging technology, and flow cytometry are just a few of the technological developments that are predicted to enhance the market growth. These developments have eliminated unintended toxicities that could have occurred during drug interactions. This results in improved drug stability, higher accuracy, decreased drug discovery time, and improved cost effectiveness, all of which are projected to increase market demand. Furthermore, it is anticipated that novel detection techniques including fluorescence lifetime & multispectral imaging as well as improved software and better data visualisation tools would propel market growth. Moreover, advantages related to these advancements, such as their use in gene identification and neonatal development studies and improved drug absorption, are predicted to provide the market substantial potential throughout the forecast period.
High content screening systems are increasingly used for target identification and validation, toxicity studies, chemical profiling, and primary and secondary screening of therapeutic compounds. There are many prospects for producers to create technologically advanced, high content screening equipment because there are an increasing number of pharmaceutical, biotechnology, and educational institutions across the world. Manufacturers in the global high content screening market are currently concentrating on introducing new high content screening systems with advanced technology to increase their effectiveness and dependability. For instance, in October 2020, a new advanced automated live cell imaging system from CytoSMART Technologies has been introduced for long-term research, sizable laboratory studies, and comparison studies. However, it is expected that the labor-intensive and time-consuming nature of image analysis for HCS will hinder the market expansion. Additionally, it is anticipated that the paucity of funding for expensive HCS equipment in emerging economies may restrain industry expansion.
North America held the largest share of the global high content screening market. Due to the domicile of key market participants there and an increase in the utilization of cutting-edge imaging technology, the United States will continue to be one of the major markets for high content screening technologies. In addition, large healthcare expenditures in the U.S. is one of the main factors promoting progress. The Office of the Actuary at CMS forecasts that total healthcare spending in the U.S. will increase by 4.6% in 2019 compared to a national GDP growth rate of 4.0%. Furthermore, the adoption of improved cell imaging tools in the U.S. has been facilitated by high per capita healthcare spending and supportive healthcare regulations. Additionally, the existence of major players supports expansion in the United States. The primary business methods used by the companies, such as new launches and expansion plans, will keep assisting in the overall market growth in the U.S.
Some of the prominent players in the global high content screening market include PerkinElmer Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Becton Dickinson Company, GE Healthcare, Merck KGaA, Cell Signaling Technology, Thorlabs, Inc., Genedata AG, Yokogawa Electric Corporation, Danaher Corporation, Agilent Technologies and others. To expand their product portfolio, the major market players are concentrating on the introduction of new solutions. For instance, in December 2019, GE Healthcare Life Sciences and Advanced Solutions Life Sciences have entered into a strategic R&D and distribution partnership in order to automate HCS in 3D models for individualized tissue regeneration. As part of this partnership, BioAssemblyBot will be integrated with IN Cell Analyzer 6500 HS confocal screening platform.