Drug discovery market is growing at a significant rate due to high investments from pharmaceutical companies and academic institutes in R&D of innovative products. Drug delivery processes involve target identification and screening of drugs. Label-free detection systems refer to the integrated systems that investigate about the biomolecular interactions without quenching of labels or auto-fluorescent effects. These systems provide rapid and real time approach for new drug discovery. Label-free detection systems may be used to detect both biochemical and cell-based assays. High acceptance rate for the use of this technology in pharmaceutical and biotechnology sector due to various advantages involved with the process are driving the global label-free detection systems market. On the basis of applications, label-free detection systems market may be segmented into binding thermodynamics, hit confirmation, binding kinetics, lead generation, endogenous receptor detection and others. Out which binding kinetics segment has the largest market.
On the basis of technology used, surface plasmon resonance technology segment has the largest share in the global label-free detection systems market. However, bio-layer interferometry segment is expected to grow at the fastest rate. This is due to less fluctuation in the refractive index of the samples being tested and microfluidic-free nature of bio-layer interferometry label-free detection systems. North America dominates the global label-free detection systems market due to technological advancement and high government funding in the region. Europe followed by Asia is expected to experience high growth rate in the next few years in global label-free detection systems market. Some of the key driving forces for label-free detection systems market in emerging countries are increasing R&D investment, large pool of patients and rising government funding.
Increased R&D investments in drug discovery from various pharmaceutical and biotechnology companies, rising government funding and growing number drug discovery programs by various academic institutions is driving the global label-free detection systems market. However, high cost involved and increasing consolidation of pharmaceutical and biotechnology companies are restraining the growth of global label-free detection systems market.