Global HCS Software and Services Market: Snapshot
The global high content screening (HCS) software and services market is foreseen to invite a host of promising opportunities while riding on technological developments in HCS solutions, cost containment in pharma research and development, and cellular research funding. Developed regions such as North America could propel the demand for HCS software and services with high government support, swelling presence of large life sciences companies, and rising research and development expenditure. HCS software and services could find application in lead specificity, the assessment of bioavailability, and qualitative assays to omit compounds with unintended modes of action.
The global HCS software and services market is foretold to expand at a CAGR of 6.9% during the forecast timeframe 2017–2022. By the end of 2022, the market could be valued at a US$1,164.8 mn. In 2017, it held a valuation of US$832.7 mn.
HCS Services as Top Product Amassing Vast Share by 2022
As stated by the authors of the report, the world HCS software and services market is envisaged to be classified according to product, industry, and application. In terms of product, the market could see a classification into two segments, viz. HCS services and HCS software. Amongst these, HCS services are prophesied to secure a larger share of 71.6% in the market by 2022 end. The absolute growth achieved by HCS services could surpass that of any other segment of the market under the same classification.
According to industry, the world HCS software and services market is forecasted to be segmented into bio, educational institutions, government organizations, independent contract research organizations (CROs), and pharmaceutical and healthcare.
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By application, toxicity studies, target identification and validation, primary and secondary screening, and compound profiling could be important segments of the world HCS software and services market.
North America’s Dominance that Rests on Loftier Revenue Growth
On the geographical front, the international HCS software and services market is envisioned to be divided into different regions such as North America, the Middle East and Africa (MEA), Latin America, Europe, and Asia Pacific except Japan (APEJ) and Japan. The analysts are of the opinion that North America could possibly lead the market with a revenue of US$426 mn expected to be achieved by the end of the forecast period.
Europe followed by Japan could be another market for HCS software and services with a strong revenue growth anticipated to be garnered by 2022. Europe is projected to reach a valuation of US$301.2 mn by the final forecast year. However, the MEA is envisaged to be on the slower side of growth throughout the course of the forecast period. Between 2017 and 2022, APEJ could create an absolute revenue prospect of US$66.3 mn.
The worldwide HCS software and services market could witness the presence of crucial and prominent industry players such as Thermo Fisher Scientific, Inc., General Electric Company, Becton, Dickinson & Company, PerkinElmer, Inc., Yokogawa Electric Corporation, Olympus Corporation, Merck & Co., Inc., Thorlabs, Inc., Sysmex Corporation, and Danaher Corporation.