The size of the Surface Plasmon Resonance Market in Latin America is predicted to be worth USD 114.61 million by 2026 from USD 81.56 million in 2021, registering a CAGR of 7.04% from 2021 to 2026.
The growing prevalence of chronic illnesses and other health problems is fuelling the growth of the surface plasmon resonance market in the Latin American region during the forecast period. Also, the rise in discoveries and innovations is pushing the market's growth rate. One of the primary technologies utilized for label-free detection is surface plasmon resonance. The launch of technologically sophisticated products, a growing number of drug development initiatives through academic-industrial alliances, and the high sensitivity of label-free technologies are critical drivers of the label-free detection industry.
These technologies and approaches are making their way into significant industries, including pharmaceuticals, biotechnology, and the food industry; this strategy uses both demand and the availability of flexible products. Increased government and non-government funding in research institutes have also contributed to the growth. Moreover, pharmaceutical and biopharmaceutical firms and university research institutes have expanded their label-free technologies for biomolecular analysis during drug development due to these technical developments, which are likely to fuel market expansion.
Furthermore, the increase in competition between the market players like Bio- Rad Laboratories Inc., Bio-Sensing Instruments Inc., General Electric Co, and others are propelling the surface plasmon resonance market growth in the awareness of this market.
The protocol is detailed, and a qualified expert must carry it out to get the desired outcomes with minimal manual error. The chemicals that support these systems are likewise costly, which raises the overall cost per contact as the plasmon resonance equipment is very costly. In addition, setting up the equipment and maintaining them is very costly. For example, a surface plasmon resonance unit costs over US$ 200,000 - 300,000 in Brazil. Therefore, lesser players enter the market. Also, the lack of skilled laborers is a primary concern in developing and underdeveloped regions.
There are alternative techniques such as localized surface plasmon resonance that are cheaper and more efficient. However, this also restricts the demand. In addition, the raw material prices are constantly fluctuating, limiting the scope of the market and thus slowing its growth.
This research report on the Latin American surface plasmon resonance market has been segmented and sub-segmented into the following categories.
By Product:
By Application:
By Country:
Latin America has seen massive growth in recent years. As a result, the market is anticipated to record a prominent share in the global market during the forecast period. At the same time, the growing prevalence of chronic diseases and the increasing geriatric population are the main drivers for market growth.
Currently, Brazil is leading the Surface Plasmon Resonance Market in Latin America, and it is expected to continue its growth throughout the forecast period. However, the high cost of therapy and other low-cost and efficient alternatives are the main challenges in the sector.
On the other hand, Chile and Argentina are projected to showcase a moderate share of the Surface Plasmon Resonance Market in the coming years and expand the Latin American regional market growth.
KEY MARKET PLAYERS:
Companies leading the Latin America surface plasmon resonance market analyzed in this report are Bio-Rad Laboratories Inc., AMETEK Inc., Bio sensing Instrument Inc., General Electric Co, and Horiba Ltd.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Imaging System
5.1.3 Sensor System
5.1.4 Reagent
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 Application
5.2.1 Introduction
5.2.2 Drug Discovery
5.2.3 Material Science
5.2.4 Biosensor
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Application
6.2 Brazil
6.3 Mexico
6.4 Rest of Latin America
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Bio-Rad Laboratories Inc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 AMETEK Inc
8.3 Biosensing Instrument Inc
8.4 General Electric Co
8.5 Horiba Ltd
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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