Surface Plasmon Resonance (SPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • Single User License $3500

Surface Plasmon Resonance (SPR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : August, 2021 | Pharmaceutical

Report Digest


Global Surface Plasmon Resonance Market: Snapshot

Surface Plasmon Resonance (SPR) is a phenomenon of squeezing light to a tiny volume, causing biomolecules to get trapped across a surface, which in turn enables their study under a microscope. In the recent past, SPRs have been used for drug discovery, material science, and development of biosensors. But now, researchers from the Vanderbilt University have suggested that this tool, also known as lab-on-a-chip, can pave a new way for the detection and diagnosis of cancer, viruses, and other ailments caused by biomolecules, adding whole new revenue avenue for the vendors operating in the surface plasmon resonance market.

Formally named as nanotweezers, this novel SPR device has the ability to function with reduced amount of laser power, can trap and stabilize molecules, and allows for studying at high resolutions, which were not possible with previous versions. In addition to that, these new devices can also potentially utilize broadband light wavelengths to aggregate silicon and gold nanoparticles, which in turn will expand its application onto permanent and non-fading color printing. The researchers have used plasmonics in order to construct this one-of-its-kind SPR device that is exceptionally faster in terms of trapping and detecting viruses, molecules, and DNA.

Apart from the innovations in the field, the market for surface plasmon resonance is gaining traction from increased public and private investments on clinical research in order to formulate drugs and therapies for a number of chronic diseases that are gaining stronger prevalence with every passing year. In addition to that, increasing adoption of microfluidics technologies in order to reduce the usage of reagents and introduction of advanced imaging software in order to analyze the results are also expected to create new opportunities in this market in the near future.

Global Surface Plasmon Resonance (SPR) Market: Overview

Surface plasmon resonance is a label free detection technique used for analyzing the kinetics of interaction between biomolecules. Of late it has witnessed High traction on account of the benefits this technique offers including sensitivity and high specificity. The demand for surface plasmon resonance is extremely high from biotechnology sector, pharmaceutical sector, clinical research organizations, and the food and beverage industry. Across drug Discovery, biosensors for my and Material Science, surface plasmon resonance technology is used for determining the Affinity of a reaction, identifying The Binding specificity of two or more molecules, as well as for measuring the dissociation as well as Association rates. Therefore it is not surprising that the growth of the surface plasmon resonance market is witnessing a positive outlook in the years to come.

The application of surface plasmon resonance for the development of point of care devices has long been the focus of market players. Players are however, met with challenges such as difficulty in mass fabrication of durable metal nanostructure on the substrate and high cost.

Global Surface Plasmon Resonance (SPR) Market: Drivers and Trends

One of the key trends that can be seen in the surface plasmon resonance Market is the growing adoption of microfluidics techniques for lowering the consumption of reagents. Another friend that is influencing the market is the introduction of advanced imaging software for the analysis of surface plasmon resonance. In the US, there are extensive Investments carried out consistently for the research and development of surface plasmon resonance system. This would also have the market to grow in the region.

One of the chief factors boosting the growth of this Market is the rising adoption of label-free detection techniques as opposed to label detection techniques. This is majorly due to the cost effectiveness of Label free detection techniques. The availability of versatile surface plasmon resonance systems is another Factor behind the growth of this market. On the other hand the emergence of alternative techniques for the detection of protein will act as a threat and hamper the growth of this Market. In addition to this High Cost of product will also deter surface plasmon resonance systems from being adopted on a large scale.

Global Surface Plasmon Resonance (SPR) Market: Geographic Analysis:

Geographically, this report splits the surface plasmon resonance market into seven regions: the Middle Atlantic, The West, Southwest, New England, the South, and the Midwest. The report mentions which of these regions will witness maximum growth, and which will witness sluggish growth. The fastest growing regional segment is also revealed.

Global Plasmon Resonance (SPR) Market: Companies Mentioned

GE Healthcare, Biosensing Instruments, Bio-Rad Laboratories, Reichert Technologies, and Horiba are some of the key players operating within the U.S surface plasmon resonance market. The business and financial overview of each of the companies along with information on the mergers and acquisitions have been given. The challenges faced by them as well as the strategies adopted by players are revealed in the report.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?