Increasing Demand for Effective Drug Discovery Techniques to Augment the Label-Free Array Systems Market Growth

 

Label-Free Array Systems Market

Label-free array systems include two types of biosensors such as optical and impedance-based biosensors, including techniques such as isothermal titration calorimetry (ITC), surface plasmon resonance (SPR), bio-layer interferometry, etc. These systems have many applications such as diagnostics, drug development, etc.

Label-free array systems are widely used in the drug discovery process by biotechnology and pharmaceutical companies. The system works on the principle of optical interferometry, impedance-based assays, and refractive index to identify and validate new molecules as the possible drug candidates. Moreover, Label-free array systems help reduce the cost and time for drug identification and validation process.

Market Dynamics:

Increasing demand for effective drug discovery techniques, due to increasing prevalence of chronic diseases, is expected to propel the growth of the label-free array systems market. For instance, according to the world Health Organization (WHO), chronic diseases are the leading causes of death and disability worldwide.

Moreover, rapid growth of the pharmaceutical industry and the increasing adoption of label-free array systems in the drug discovery is expected to drive the label-free array systems market growth.

The increase in research and development activities is also expected to augment the growth of the label-free array systems market. For instance, in November/December 2020, a research team from the California Institute of Technology developed a two-dimensional (2D) multifocal optical resolution photoacoustic microscopy system. The system has potential for numerous biomedical applications, such as UV illumination for high-speed, label-free histological study of biological tissues.

The label-free array systems market is witnessing significant merger and acquisition (M&A) activities. For instance, in June 2018, Bruker acquired Sierra Sensors to expand real-time, label-free detection portfolio for Pharma and Biopharma drug discovery.

However, high cost associated with this technology and lack of knowledge and information about this system is expected to hinder the market growth restrain the growth of the label-free array systems market.

Competitive Analysis:

Major players active in the label-free array systems market are Bruker Corporation, Biosensing Instrument, NanoSPR Devices, Nicoya, plasmetrix.com, ABL&E Group, Horiba instruments Incorporated, Metrohm India Limited, Reichert, BioNavis Ltd, and General Electric Healthcare.

Major players in the market are involved in different business strategies, such as business expansion, to enhance their market presence. For instance, in October 2020, Axol Bioscience (Axol) announced the expansion of its service offering, with the introduction of multi-electrode array screening for human iPSC-derived cells to support pre-clinical research by optimizing human iPSC-derived cell culture, providing high-quality electrophysiological data acquisition and analysis from physiologically relevant human cell models.

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