In recent years, the use of biosensors in drug discovery has been on the rise, driven by several technological advancements and the growing demand for inexpensive and effective techniques for analyzing potential drug candidates
Roots Analysis has announced the addition of “Biosensors Market: Focus on Drug Discovery and Drug Development, 2023 - 2035” report to its list of offerings.
A number of drug developers are already using novel biosensors for various drug discovery applications to address the concerns associated with high rate of failures of drug development programs and requirement of high capital investments. As the adoption of biosensors, specifically for drug discovery, increases amongst innovators in the pharma and biopharma industry, lucrative opportunities are expected to be created for players engaged in the biosensors for drug discovery market.
Key Market Insights
Currently, more than 80 biosensors are being developed by various stakeholders, across the world. The majority of the biosensors (64%) engaged in this domain are optical biosensors, followed by electrochemical biosensors (25%), quartz crystal microbalance biosensors (5%) and thermal biosensors (5%). Close to 95% of the biosensors are used for lead identification step in drug discovery. Further, 15% of the biosensors claim to support all the steps in drug discovery.