Biosensors Market | Drug Discovery and Development | Market Analysis, 2022-35

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 techniques for analyzing potential drug candidates. The biosensors market focused on drug discovery and development is projected to grow at an annualized rate of 9% between 2022–2035.Several drug developers are already using novel biosensors for various drug discovery applications to address the concerns associated with the high rate of failures of drug development programs and the requirement of high capital investments.As the adoption of biosensors, especially for drug discovery, increases among the innovators of pharmaceutical and biopharmaceutical industries, it is expected to create lucrative opportunities for players involved in biosensors for drug discovery market.Essential Demand Understandings

1. Presently, more than 80 biosensors, focused on drug discovery applications, are being developed by various companies across the world; 65% of such biosensors can analyze small molecules.
2. Nearly 65% of the available devices in this market are optical biosensors; over 90% of these biosensor technologies support the identification of new drug leads.
3. The market landscape is dominated by small players, which were established post 2005; the US has emerged as a key hub for drug discovery focused biosensors, featuring the presence of maximum developers.
4. In pursuit of gaining a competitive edge, biosensor developers are presently undertaking initiatives to expand their existing capabilities and augment respective product portfolios.
5. Over the years, players engaged in this domain have carried out a variety of initiatives to further advance the development / enable improvement of their existing biosensor technologies.
6. Several investors, having realized the opportunity within this upcoming segment, have invested over USD 1.2 billion across various funding rounds in the past four years.
7. Published scientific literature signifies the active initiatives of researchers to discover new biosensor technologies to cater to the evolving drug discovery and development needs.
8. Various industry and non-industry players have participated in multiple global events to discuss research outcomes, affiliated challenges and opportunities associated with the use of biosensors in drug discovery.

• More than 350 patents have been granted / filed for various biosensor technologies focused on drug discovery applications, primarily by players based in North America.
• The market for biosensors in drug discovery is expected to grow at a CAGR of 9%, during 2022–2035; the opportunity is likely to be well-distributed across different types of biosensors, end users and geographies.

The report contains detailed transcripts of conversations held with the following professionals:

• Bill Rader (Chief Executive Officer, Efferent Labs)
• Anne Marie Quinn (Chief Executive Officer, Montana Molecular)
• Laurent Sabbagh (Head of Biology, Domain Therapeutics).

The research includes profiles of key players (listed below); Each profile provides a brief overview of the company, details on its biosensor product portfolio, current developments, and an informed outlook for the future.

1. Agilent Technologies
2. Axion Biosciences
3. Bio Navigations
4. Creoptix
5. Cytiva
6. Dynamic Biosensors
7. Malvern Panalytical
8. Micro vacuum
9. Sartorius
10. Tempo Bioscience

Key Market InsightsMore than 80 biosensors are currently being developed by various stakeholders around the worldMost 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 the lead identification step in drug discovery. Further, 15% of the biosensors claim to support all the steps in drug discovery.Since 2018, over $1.2 billion has been invested in various domain-related initiativesSpecifically, in 2021, industry players raised close to USD 600 billion. In addition, many of the companies (66%) primarily received funding through venture capital rounds.Several global events on biosensing in drug discovery have been organized in recent yearsMost of the events related to biosensors in drug discovery were organized in Europe (45%). It is worth highlighting that the main agenda of these events was to discuss the development and challenges associated with biosensors in the drug discovery domain.370+ patents related to biosensors in drug discovery have been granted/filed between 2018–2022R&D activity related to biosensors in drug discovery is largely concentrated in North America because 70% of the total number of patents were filed in this region. In addition, most of the patents in this domain are granted patents (55%), followed by patent applications (44%).North America and Europe are anticipated to capture over 70% of the market share, by 2035In addition, the market in the Asia Pacific is likely to grow at a relatively faster pace (10%) in the long term. Further, in 2035, the biosensors market for drug discovery applications for academic / research institutes is expected to capture the majority share (~60%) of the total market.The financial opportunity within the biosensors in drug discovery market has been analyzed across the following segments:Type of Biosensor

• Optical
• Electrochemical
• Thermal
• Others

Type of End User

• Academic / Research Institutes
• Industry Players

Key Geographical Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and North Africa
• Rest of the World

Key Questions Answered

• Who are the key players engaged in the biosensors in drug discovery market?
• What is the relative competitiveness of different biosensors being developed for drug discovery applications?
• What are the key agenda items being discussed in various global events / conferences related to biosensors in drug discovery?
• What is the focus area of the ongoing research activity related to biosensors in drug discovery?
• How is the intellectual property landscape for biosensors in drug discovery likely to evolve in the foreseen future?
• What are the factors that are likely to influence the evolution of this market?
• How is the current and future market opportunity likely to be distributed across key segments?

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