Phage display technology is a powerful tool that’s widely used in drug discovery for developing monoclonal antibodies and peptides that bind specifically to a target molecule with high affinity. 

Phage display technology offers several advantages:

1. Highly Versatile: Phage display can be used for a wide range of applications at various stages of drug development, from peptide and antibody discovery, to screening of the candidate and lead optimization.
2. High Throughput: The phage display platform can efficiently screen billions of peptides or antibodies, all in a single day. Its rapid screening capabilities make it highly beneficial for drug discovery.
3. Cost-Effective: Compared to other techniques, phage display requires fewer resources and consumables while delivering high-affinity ligands in a short time, making it a cost-effective option for drug discovery.