In this study, a biosensor utilizing a dielectric-modulated Amorphous Indium Gallium Zinc Oxide (a-IGZO) thin film transistor (TFT) is introduced. Thin film transistor biosensors have garnered significant attention due to their heightened sensitivity, scalable nature, low power consumption, rapid electrical detection capabilities, and cost-effective means of mass production. By embedding a nano-cavity within the gate insulator of the TFT, biomolecules can accumulate within. As each biomolecule possesses its own dielectric constant, it modulates the effective gate capacitance and, subsequently, changes the channel conductance. To assess the sensitivity of the biosensor, variation in saturation current after the absorption of biomolecules with respect to the drain current in the case of an air-filled cavity has been considered as a precise measure. The efficient operation of a biosensor is contingent upon the sensitivity being highly dependent on the dielectric constant of the biomolecules that are accumulated within the nano-cavity. Consequently, a comprehensive evaluation has been conducted to ascertain the impact of critical design parameters which have the potential to affect the sensitivity of the biosensor. Additionally, a statistical analysis based on coefficient of variation measure has been performed to evaluate the susceptibility of the biosensor's sensitivity to variations in geometrical and physical design parameters. The utilization of label-free detection methodology in this device presents a notable advantage due to its compatibility with the fundamental CMOS processing technology and its cost-effective potential for macro production.