As per our report, the size of the global SPR market was worth USD 692.73 million in 2020 and estimated to be growing at a CAGR of 5.75 %, to reach USD 916.15 million by 2025.
Surface plasma resonance oscillations are highly sensitive and offer significant benefits in the pharmaceutical industry. Also, these are popularly used in biotechnology companies. This technique is new in clinical researchers who are used to detect label-free biomolecular interactions. In real-time applications, this technique plays a prominent role in material science, biosensors and drug discovery. Surface Plasmon resonance follows the total internal reflection principle, which is emerging in the food industry. In the medical sector, this technique is also used to detect cancer, viruses, and others and also assist in having appropriate diagnostic procedures.
The technique Surface Plasmon resonance is used to describe the kinetics of interaction among biomolecules. In real-time, it is one of the best emerging techniques for label-free detection for biomolecular interactions. SPR technique has many benefits like sensitivity and high specificity, and it is mostly based upon the principle of total internal reflection. It can also be used in biotechnology and pharmaceutical companies, Organizations like clinical research and industries like food. Surface Plasmon resonance technique has many applications in other fields.
Label-free detection techniques replace labelled detection techniques because of the availability of many types of products and cost-effectiveness. SPRs significant trends include the rise in the adoption of micro fluids techniques to decrease the consumption of reagent, introducing the advanced imaging software for the detailed report of SPR and proper investment in R and D by many companies.
Escalating expenditure on healthcare and the growing scale of hospitals and clinics with the latest techniques is a crucial driving factor for the global surface plasmon resonance market to grow. Creating awareness through campaigns and training programs and rising incidences of chronic diseases and other health disorders are additionally enhancing the growth rate of the surface plasmon resonance market. In developed and developing countries, this technique is emerging in major sectors like pharmacies, clinical research, food industry, and others are propelling the growth rate of the market. The availability of versatile products in this technique is leveraging the demand of the global SPR market.
Increasing investments in the clinical research centres by both government and non-government organizations are merely to boost up growth opportunities for the market. Besides, the rising popularity of these techniques and their advantages in the food industry are also fuelling the growth rate of the surface plasmon resonance market. Increasing disposable income, especially in urban areas, is elevating the demand of this market to the extent. The rise in the flow of patients to the hospitals with various diseases and their need to have effective treatment is straight promoting the growth rate of the market. As surface plasmon resonance has excellent functionalities in the biotechnology field, the growth rate of the surface plasmon resonance market is growing enormously.
However, the high cost for installation and maintenance of the devices in the laboratories and lack of skilled persons due to less training are major challenging things for the market developers. The availability of alternative techniques at low cost and high accuracy is also one of the factors impeding the demand of the Surface Plasmon Resonance Market. Fluctuations in the prices of raw materials are additionally limiting the need of the market.
The outbreak of COVID-19 is positively influenced by the global surface plasmon resonance market and spurred further market growth. The growing need for this technique is attributed to the necessity of molecular interaction networks in enabling an understanding of the cellular mechanisms involved in a biological process such as the viral infection of a cell. Whereas, this is the primary requirement in the examination of the coronavirus. Besides, growing testing of COVID-19 among various regions for avoiding the spread-out of the virus is further propelling the market.
Market Size Available
2019 to 2025
2020 to 2025
By Product, Application and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
This report on the global surface plasmon resonance market is segmented based on by application, by product type and region.
Surface Plasmon Resonance Market – By Product
Based on the product, the Sensor system segment is expected to have a maximum share in the market. The imaging system is predicted to have more CAGR in the future.
Based on revenue, the imaging system is expected to show better results when compared to others.
Based on Volume, the Sensor system is predicted to show high results.
Surface Plasmon Resonance Market – By Application
Based on application, the Drug discovery segment is predicted to attain the highest CAGR in the coming years, due to the rise in the implementation of SPR in biotechnology and pharmaceutical companies for the development of the drug industry and analysis of the interaction between Drug-cell.
Surface Plasmon Resonance Market – By Region
Geographically, North America is holding the highest shares in the global surface plasma resonance market by owing to the quick adoption of the latest technologies in every sector. Launch of innovative techniques in favour of the end-users is magnifying the demand of the market.
Following North America, Asia Pacific is to rule the dominant shares of the surface Plasmon resonance market. Focus on to improve diagnosis and treatment procedures in hospitals is likely to outshine the demand of the market in this region. Rising geriatric population is one of the common factors for the market to grow in the Asia Pacific.
Europe is deemed to have significant growth opportunities in the coming years. The emergence of this technique in food and beverage industries to improve the quality of food products is broadening the demand of the market.
TOP COMPANIES IN THE MARKET
List of key market participants leading the global surface plasmon resonance market profiled in this report are AMETEK Inc., General Electric Co, Bio-Rad Laboratories Inc., Biosensing Instrument Inc. and Horiba Ltd.
RECENT MARKET DEVELOPMENTS
On April 30, 2020, Nicoya, a provider of analytic instruments for the biotechnology and pharmaceutical industries, has made a public statement which will be offering SPRm technical support to all the researchers at no cost during the COVID-19. The mission is to make betterment changes in human life by helping scientists succeed.
On December 04, 2018, Carterra, Inc., one of a leading company in the global surface plasmon resonance marketspace, continues its popular seminar series on increasing antibody discovery with a new event in Cambridge. The Carterra LSA has made a smooth shift in the antibody, which allows the rapid and detailed screening and characterization of large antibody at the initial stage of the discovery process.
On February 22, 2017, Bio Sensing Instrument Inc. came up new SPRm 200, which is the early commercial availability of surface Plasmon resonance microscopy system. This new SPRm allows label-free in vitro measurement of binding reactions and kinetics of individual cells in their environment.
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
2.2 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
3.1 Executive Summary
3.2 Key Inferences
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
5.1.2 Imaging System
5.1.3 Sensor System
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
5.2.2 Drug Discovery
5.2.3 Material Science
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
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By Application
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
126.96.36.199 By Application
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
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
8.1.2 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
9.1 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
a) List of Tables
b) List of Figures