The global label-free array systems market is anticipated to witness steady growth of approximately 6.2% CAGR during the forecast period. In recent years, label-free array systems have taken center stage as the research tool in many drug discovery processes. Label-free technologies are also used by manufacturers in context to patient samples, to produce biorelevant data that can result in effective drug development and precision medicine.
Modern medicine is moving toward precision or personalized medicine, to eliminate dosing redundancy in individuals. However, the biggest challenges in drug discovery and development are individual variability in drug effectiveness and a lack of translatability of pre-clinical results. Hence, companies are focusing on developing appropriate cellular models and readout systems to understand mechanisms and functional characterization on molecular and cellular levels. Moreover, next-gen label-free technologies, including mass spectrometers, biochips/microarrays, and others, have shown positive results in identifying clinical microorganisms. Companies are also developing micro plate-based optical biosensors that can be incorporated in the standard format microplates, to detect small molecules, cells, and proteins.
Key Market Trends
The Surface Plasmon Resonance Technology Segment is Expected to the Exhibit the Fastest Growth During the Forecast Period
Based on the technology, the segmentation includes cellular dielectric spectroscopy, bio-layer interferometry, surface plasmon resonance, and other technologies. Among these, surface plasmon resonance technology is likely to experience a significant growth in the global label-free array systems market. The main contributors can be increasing spending over R&D activities by pharmaceutical and biopharmaceutical companies. According to the report of European Federation of Pharmaceutical Companies, in 2017, the R&D expenditure for European pharmaceutical industry was accounted to be around USD 38,404. Hence, it is expected to influence the market positively.
North America Accounted for the Largest Share in the Global Market and is also the Fastest-growing Market
Region-wise, North America is expected to emerge as the leading region in the global label-free array systems market. The rise in chronic and life-threatening diseases is resulting in an increase in drug discovery programs in the United States. This is leading to the increasing demand for label-free array systems in the region. The companies are also introducing label-free cell-based systems for early drug discovery. Meanwhile, certain issues, including a limit of detection and probability of the device, and the sensitivity of the device, are being optimized by manufacturers to offer better label-free array systems.
The global label-free array systems market is dominated by a few major players, and the global label-free array systems market is expected to experience growth, owing to the rising collaboration and partnerships between pharmaceutical and biotechnology companies, for expediting various drug discovery/designing processes.
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