The theoretical description of heavy quarkonium production at high-energy pp and ep colliders is reviewed. Predictions based on non-relativistic QCD factorisation are confronted with recent charmonium and bottomonium data from the Tevatron and HERA. Potential shortcomings of the present theoretical analyses are discussed, and the prospects for quarkonium physics at the upgraded Tevatron and HERA colliders and at the LHC are summarised.