HCS Software and Services Market : Recent Industry Developments and Growth Strategies Adopted by Players

The global high content screening (HCS) software and services market is foretold to welcome a bolstering demand owing to the augmented prominence of the secondary screening of cells for toxicity studies. Research and educational institutions could help the market gain a strong traction in the coming years. HCS instrument manufacturers are expected to receive a wealth of opportunities created with the establishment of automated systems for cell scalability and separation analysis.

According to the analysis of Transparency Market Research (TMR), the global HCS software and services market is predicted to reach a revenue valuation of approximately US$1.1 bn by the end of 2022, progressing from a valuation of around US$0.8 bn achieved in 2017. During the forecast period 2017–2022, the market could rise at a 6.9% CAGR.
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The sales of HCS instruments are prognosticated to be boosted with the towering demand for novel cell analysis technologies due to enlarging drug discovery processes and improved toxicity studies. The demand in the world HCS software and services market could be increased by the development of solutions offering significant sensitivity in determining problems as serious as hepatotoxicity. This could be on account of the rising significance of the risk assessment of severe diseases for drug discovery across a range of biotechnology and pharmaceutical companies.

Although the high cost of HCS instruments could negatively impact growth, their growing demand for providing comprehensive offerings to lab services is foreseen to help the world HCS software and services market achieve a healthy comeback.

The world HCS software and services market is projected to be segregated as per product type classification into two segments, i.e. HCS services and HCS software. According to the publication, the HCS services market could exhibit dominance with its superior valuation of close to a US$0.8 bn anticipated to be attained by 2022.

The market could also be dependent on industry segments such as bio, educational institutions, government organizations, independent contract research organizations (CROs), and pharmaceutical and healthcare. As per application, the market is forecasted to be categorized into toxicity studies, target identification and validation, primary and secondary screening, and compound profiling.

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By region, players operating in the world HCS software and services market could find opportunities prevailing in North America, the Middle East and Africa (MEA), Latin America, Europe, and Asia Pacific except Japan (APEJ) and Japan. With a 7.5% CAGR prophesied to be posted during the course of the forecast period, North America is envisaged to register a dominating share in the market on the basis of revenue.

Among the leading companies, 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 are envisioned to showcase their prominence in the worldwide HCS software and services market.

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This release was published on openPR.