Biosensors Market: Focus on Drug Discovery and Development - Distribution by Type of Biosensor, Type of End User and Key Geographies - Industry Trends and Global Forecasts, 2022-2035

The drug discovery process, which involves the identification of a relevant biological target and a corresponding pharmacological lead, is deemed crucial to the clinical success of a drug candidate. However, considering the growing complexity of modern pharmacology, the discovery of viable therapeutic candidates is very demanding, both in terms of time and capital investment. In fact, as per estimates, a therapeutic drug takes around 10 to 15 years and an average investment of USD 1 to 2 billion, to traverse from the bench to the market. It is also a well-known fact that only a small proportion of pharmacological leads, identified during the discovery stages, are actually translated into viable product candidates for clinical studies. Experts believe that close to 90% of the product candidates fail to make it past the clinical stage of development. The high attrition rate has long been attributed to the legacy drug discovery process, which is more of a trial-and-error paradigm. In attempts to address the concerns associated with rising capital requirements in drug discovery and prevent late stage failure of drug development programs, stakeholders in the pharmaceutical industry are currently exploring the implementation of biosensors (an analytical device consisting of a biological component, such as antibodies, enzymes, cells, lipids and oligonucleotides, and a physical transducer) to enable the effective screening of lead drug candidates from thousands of hits. Further, biosensors can be used for routine analysis of known, as well as unknown, analytes.

At present, various types of biosensors, including optical biosensors, electrochemical biosensors, thermal biosensors and others, are being deployed across different steps of drug discovery, such as disease modelling, target identification/validation, lead identification, lead optimization and other applications. It is worth mentioning that the use of biosensing technologies in drug discovery operations is expected to improve the overall R&D productivity by enabling accurate screening and identification of lead drug compounds. Currently, more than 80 biosensors are available in the market / being developed by various industry stakeholders for drug discovery and development purposes. Further, over USD 1.2 billion has been invested in this market by both private and public sector investors, in the last five years. Interestingly, close to 50% of the aforementioned amount was invested in the last two years, reflecting the increasing interest of stakeholders in this domain. It is also worth highlighting that over 370 patents related to biosensors in drug discovery have been filed/granted, highlighting the continuous pace of innovation in this field. Considering the active initiatives being undertaken by players in this domain, we are led to believe that the opportunity for stakeholders in this niche, but upcoming, industry is likely to grow at a commendable pace in the foreseen future.

Scope of the Report

The “Biosensors Market: Focus on Drug Discovery and Development - Distribution by Type of Biosensor (Optical, Electrochemical, Thermal and Others), Type of End User (Academic and Research Institutes and Industry Players) and Key Geographies (North America, Europe, Asia Pacific, Latin America, Middle East and North Africa, and Rest of the World) - Industry Trends and Global Forecasts, 2022-2035” report features an extensive study of the current market landscape and future potential of biosensors in drug discovery, over the next 13 years. The study features an in-depth analysis of key drivers and trends related to this domain. Amongst other elements, the report includes:

• A detailed assessment of the current market landscape of biosensors in drug discovery, along with information on several relevant parameters, such as type of biosensor (optical biosensors, electrochemical biosensors, quartz crystal microbalance biosensors, thermal biosensors and magneto-electric biosensors), bioreceptor used (cells, proteins, lipids, enzymes, antibodies and undisclosed), drug discovery step(s) supported (disease modelling, target identification/validation, lead identification, lead optimization, and drug discovery (unspecified)), other applications (ADME assays, toxicity assays, cytotoxicity assays, cell analysis, drug characterization/validation assays and other assays), type of analyte analyzed (small molecules, cell/tissues, protein/peptides, antibodies, nucleotides, viruses, blood products, enzymes, biologics (unspecified) and others), type of carrier plate format (microplate-based sensor, flow through the sensor, chip-based static array sensor, polymerase chain reaction (PCR) format plates-based sensor and undisclosed), sample capacity (less than 96, 96 to 384, 385 to 1536, more than 1536 and undisclosed), sample volume (1 to 50µl, 51 to 100 µl, 101 to 200 µl, more than 200 µl and undisclosed), type of detection (label-free and real-time) and type of system (automatic, semi-automatic and undisclosed). In addition, the chapter features analysis related to biosensor developers based on multiple parameters, such as their year of establishment, company size, location of headquarters and leading players (in terms of number of biosensors developed). 
• A product competitiveness analysis of biosensors used for drug discovery purposes based on various relevant parameters, namely supplier power (in terms of the experience of the developer) and product competitiveness (in terms of type of biosensor, bioreceptor used, drug discovery step(s) supported, other application(s), type of analyte(s) analyzed, type of carrier plate, sample capacity, type of detection, and type of system used).
• Elaborate profiles of prominent players developing biosensors for drug discovery applications. Each profile features a brief overview of the company, details related to its product portfolio, recent developments and an informed future outlook.
• An elaborate brand positioning analysis of leading industry players (shortlisted on the basis of year of establishment, number of biosensors developed and company size), highlighting the current perceptions regarding their proprietary brands, across biosensors in drug discovery.
• An analysis of investments that have been made into companies developing biosensors for drug discovery applications, including seed financing, venture capital financing, capital raised from IPOs and subsequent offerings, grants and debt financing. The investment instances have been analyzed based on various relevant parameters, such as year of investment, amount invested, type of funding, most active players (in terms of number of funding instances) and type of investor.
• A detailed review of over 333 peer-reviewed, scientific articles related to research on biosensors in drug discovery on the basis of several relevant parameters, such as year of publication, type of publication, emerging focus areas, most active publishers, most active affiliated institutes and geography. The chapter also highlights the top journals, in terms of number of articles published and impact factor.
• A detailed analysis of the global events attended by participants, based on several relevant parameters, such as year of event, type of event platform, location of event, emerging focus areas, active organizers (in terms of number of events), active industry and non-industry participants, designation of participants, and affiliated organizations of participant. The chapter also highlights the geographical mapping of upcoming events.
• An in-depth analysis of various patents that have been filed / granted related to biosensors in drug discovery, during the period 2018-2022, taking into consideration parameters, such as publication year, geographical region, CPC symbols, patent focus areas, type of applicant, detailed valuation analysis and leading players (in terms of size of intellectual property portfolio).

One of the key objectives of the report was to evaluate the current opportunity and future potential associated with biosensors in drug discovery, over the coming 13 years. We have provided informed estimates of the likely evolution of the market in the short to mid-term and long term, for the period 2022-2035. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as [A] type of biosensor (optical, electrochemical, thermal and others), [B] type of end user (academic and research institutes, and industry players) and [C] key geographies (North America, Europe, Asia Pacific, Middle East and North Africa, Latin America and Rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

The opinions and insights presented in the report were also influenced by discussions held with senior stakeholders in the industry. The report features detailed transcripts of interviews held with the following individuals:

• Bill Rader (Chief Executive Officer, Efferent Labs), 
• Anne Marie Quinn (Chief Executive Officer, Montana Molecular)
• Laurent Sabbagh (Associate Director R&D and Head of Biology, Domain Therapeutics Research)

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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