Label-free Array Systems Market - Surface Plasmon Resonance Technology to Witness Strong Growth
Added: (Thu Dec 27 2018)
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Label-free array system is being used on the large scale for identifying and validating new molecules for drugs. Label-free technology is suitable for target molecules that are not easy to tag. With the increasing demand by biotechnology and pharmaceutical companies, new label-free array systems are being developed with advancements in biotechnology. Some of the latest developed systems include magnetoelastic biosensors, field-effect transistors-based biosensors including a carbon nanotube, surface stress-based biosensors, and optical-based biosensors. Sensor based on surface plasmon resonance has emerged as one of the effective methods to study bio molecular interaction in a label-free array system.
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Label-free array systems are being developed with the focus on providing a measurement of protein concentration and specific activity. However, label free array systems are also seen as one of the tools to aid in the characterization of drug interactions and complementary to the existing range of detection technique. Hence, companies are working on developing label-free array systems with all the features that can help in assessing difficult target classes and displace other detection technologies.
As per the report by Transparency Market Research, the global label-free array systems market is likely to register a CAGR of 5.6% between 2017 and 2024. Also, towards the end of the forecast period, the market is projected to bring in US$ 1,722.9 Million revenue.
With increasing prevalence of various chronic diseases worldwide is resulting in the rapid rise in the drug discovery, development and validation process. Pharmaceutical companies are focusing on providing effective drugs for chronic diseases. Hence, the process of identification and validation of new molecules that can act as a possible drug candidate is also increasing. To meet the growing demand for new and effective drugs, pharmaceutical companies are demanding advanced label-free array systems that can help in reducing the high cost of drug identification and validation process.
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Increasing collaboration between academic institutes and pharmaceutical companies are boosting the development of label-free array systems. New label-free array systems are being developed with the ability to detect small cells, molecules, and proteins for drug discovery process.
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