Imaging Systems Capture Nearly 3/5 of Total Demand
Imaging systems hold a larger share of total market revenue, and the trend is likely to get stronger through 2029. As imaging systems enhance throughput, keeping precision and consistency intact, market players are keeping strong focus on this product type. By 2022, the usage of image systems will surpass US$ 500 Mn in value.
While molecular image systems are leading the pack in the global surface plasmon resonance market, reagents and sensor systems would account for a collective share of over 40%.
Market Penetration in Developed Regions
Investment upheaval in biotechnology and strong presence of local players are the prime factors underpinning the growth of the surface plasmon resonance markets in North America and Western Europe. The U.S. and Germany are leading these developed regional markets, respectively, with the market in the former set to keep stakeholders engaged through the opportune time. Given the rapid rise of the biotechnology industry in the region, market players are also expecting high growth potential from Asia Pacific (excluding Japan).
Increasing Application Scope in Food Industry
In the food industry, examining food quality is mandatory to ensure transparency and accuracy regarding the nutritional profile of the product as well as for regulatory compliance. Owing to its benefits such as faster sample generation and reduced assay time, surface plasmon resonance is garnering prominence in the food industry over existing techniques such as microbiological assays. Such increasing application of SPR in the food sector is compelling players in the surface plasmon resonance market to realign their strategies.
How Growth will Unfold
Drug discovery will continue to be the target application area for surface plasmon resonance market players throughout the period of projection. Accounting for a relatively higher revenue share, market players are expected to reap revenue worth around US$ 900 Mn in 2029 via drug discovery.
While drug discovery is representing the most worthwhile application area, market players are also viewing material science and biosensors for potential sales opportunities. Furthermore, the adoption of surface plasmon resonance in these two application categories collectively accounts for slightly over one-third share of the global surface plasmon resonance market.
FREQUENTLY ASKED QUESTIONS ABOUT SURFACE PLASMON RESONANCE MARKET
Which region is expected to lead the global surface plasmon resonance market?
North America is expected to hold around 35% share of the total surface plasmon resonance market, and grow at an impressive rate during forecast period. Asia Pacific excluding Japan (APEJ) is anticipated to remain the target geography for leading market players.
Which product type would be the most attractive for investment?
Imaging systems are expected to hold more than 50% revenue share in the surface plasmon resonance market. Imaging systems enhance throughput significantly, along with imparting accurate motion and consistency during report generation.
Who are the major players in the surface plasmon resonance market?
Horiba, Ltd, General Electric Co., Ametek, Inc., and Biosensing Instrument Inc. are key players accounting for a major share in the surface plasmon resonance market.
Which end users would contribute maximum revenue during the forecast period?
Biopharmaceutical companies are likely to hold half of the total surface plasmon resonance market revenue share during the forecast period, while CROs are anticipated to be second most attractive segment.
How is the surface plasmon resonance market performing in terms of revenue?
The global surface plasmon resonance market is projected to register a value of US$ 770 Mn in 2019. By the end of the forecast period (2029), the surface plasmon resonance market will reach a value of around US$ 1.4 Bn, growing at a healthy pace.
SURFACE PLASMON RESONANCE MARKET TAXONOMY
The global surface plasmon resonance market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product Type
- Imaging Systems
- Sensor Systems
- Reagents
Application
- Drug Discovery
- Material Science
- Biosensors
End User
- Academic & Research Institutes
- Food & Beverage Industry
- Biopharmaceutical Companies
- CROs
Others
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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