The global surface plasmon resonance (SPR) market is estimated to gain momentum owing to high sensitivity and high specificity advantage that it offers in the pharmaceutical industry. Surface plasmon resonance is also used in other industries like clinical research, food, biotechnology companies apart from pharmaceutical industries. Surface plasmon resonance is basically the technique used for analyzing bimolecular kinetics interaction. It is a new technique used for detecting label-free bio molecular interactions in real time. This technique is used for material science, biosensors and drug discovery.
There are different variations in the market for surface plasmon resonance on the basis of applications, end user and product type. Based on the categorization by product type, the global surface plasmon resonance market is segmented into reagents, sensor system and imaging system. Imaging system segment is likely to remain the most lucrative segment among the others.
On the basis of end user, the market is classified into CROs, biopharmaceutical companies, food and beverage industry, and academic and research institutes. Out of these the CRO, food and beverage industry and academic and research institutes segments are accounted to be drawing more revenue to the market.
With respect to application, the global surface plasmon resonance market is categorized into biosensors, material science and drug discovery. Among these, the drug discovery segment is likely to dominate the overall market revenue in the future years to come.
The report presented here is a complete evaluation of the global surface plasmon resonance market with large focus on market dynamics. It includes the market drivers, restraints, and trends and opportunities. It also offers geographical and other segmentation studies of the market.
An important factor to boost the growth of surface plasmon resonance market is the rise in adoption of label-free detection procedures as compared to over labelled detection procedures. This is because of the easy availability of such flexible products and that too at very low costs that the end results are refined. Apart from that, when SPR is paired with different complimentary techniques, the test results are more enhanced, thus, acting as a major factor to fuel the overall market in the long run.
However, factors like shortage of detection sensitivity, higher expense for combining POC system with microfluidic chip and sensor may restrict the growth of the overall market. Adding to that, there is huge fabrication of long-lasting metal nanostructure on the substrate and this may also hamper the future market growth in the years to come.
Nevertheless, an important factor prophesied to accelerate the global market for surface plasmon resonance is the surge in adopting microfluidics method in order to reduce reagent consumption. Besides that, advanced imaging software was also introduced in order to analyze the surface plasmon resonance. Adding to that, there has been generous amount of investments by many vendors on research and development, and this is further envisioned to increase the revenue share of the market at a global basis.
The global surface plasmon resonance market may be classified into the geographies of Europe, Asia Pacific, North America, Middle East and Africa and Latin America. Among these, North America is projected to be dominating the market from the past few years and may continue to do so. Europe is not far behind and is seen to be equally competing with North America. Meanwhile, the market in Asia Pacific is anticipated to be expanding significantly. Latin America is also presumed to be taking rapid pace in terms of drawing market revenue in the coming years.
The top vendors of the global surface plasmon resonance market includes Bio-Rad Laboratories, Inc., Biosensing Instrument Inc., Kinetic Evaluation Instruments BV, AMETEK, Inc., and Nicoya Lifesciences Inc.