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

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

Status : August, 2020 | Pharmaceutical | PPT format

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 study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.