HOME Research Insight Thermo Fisher Scientific (US) and Agilent (US) are the leading players in the High Throughput Screening Market

Thermo Fisher Scientific (US) and Agilent (US) are the leading players in the High Throughput Screening Market

The global HTS market is projected to reach USD 21.69 Billion by 2023 from USD 14.87 Billion in 2018, at a CAGR of 7.8%. The initiatives undertaken by pharmaceutical and biotechnology companies, increasing R&D spending, technological advancements in HTS, and the availability of government funding & venture capital investments are some of the factors driving the growth of HTS market. High growth opportunities in emerging markets and growing research activities in toxicology and stem cell research offers many opportunities for players operating in the market.

Players in the global HTS market, such as Agilent (US), Danaher (US), Thermo Fisher Scientific (US), PerkinElmer (US), Tecan (Switzerland), Axxam (Italy), Merck Group (Germany), Bio-Rad (US), Hamilton (US), Corning (US), BioTek (US), and Aurora Biomed (Canada) are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, partnerships, agreements, collaborations, and acquisitions.

Thermo Fisher Scientific (US) held the leading position in the global HTS market in 2017. The company develops and manufactures high-end analytical instruments, laboratory equipment, software, consumables, reagents, and services for scientific research, analysis, discovery, and diagnostics. It offers its products and services in over 50 countries. The company majorly focuses on acquisitions and agreements to enhance its presence in the HTS market. For instance, in January 2018, the company agreed with Illumina, Inc. (US), to provide Illumina with the Ion AmpliSeq technology required for research on next-generation sequencing. In addition, in August 2017, the company acquired Patheon N.V. (Netherlands), to strengthen its customer base. In addition to this, the company also focuses on organic strategies to garner a larger market share. For instance, in 2018, the company launched its Axiom Microbiome Array and Ion GeneStudio S5 Series.

Agilent is among the leading players in the global HTS market. The company’s strong focus on a broad range of customers, technology-enabled solutions, diversified service offerings, and strong sales network has enabled it to establish a strong foothold in the high-throughput screening market. In order to maintain its leading position in the global HTS market, the company mainly focuses on enhancing its product portfolio by adopting a number of growth strategies like collaborations, agreements, and partnerships; expansions; and acquisitions. For instance, in 2018, the company acquired Luxcel Biosciences Limited (Ireland) to expand its cell analysis offerings. The company also focuses on product launches as one of its key growth strategies to garner its market share. For instance, during 2015–2017, the company launched 11 products to enhance and strengthen its presence in the market.

Related Reports:

High Throughput Screening Market by Technology (Cell-Based Assays, Lab on a Chip, Bioinformatics), Application (Target Identification, Primary Screening, Toxicology), Product (Reagent, Instruments, Software, Service), End User - Global Forecast to 2023

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