Surface Plasmon Resonance Market to Reach US$ 1.4 Bn by 2029
Growing at a healthy CAGR of nearly 6%, the global surface plasmon resonance (SPR) market is anticipated to hit the US$ 1 Bn in 2024. Increasing investments in life science software and R&D projects in tandem with shifting preference towards label-free techniques for analyzing the kinetic aspects of biomolecular interactions are the supporting market progress. Further, the emergence of novel technologies coupled with SPR, including nanoparticle surface plasmon resonance and microfluidics, is likely to play an instrumental role in shaping the future landscape. This FMI study projects 1.8X revenue growth of the global SPR market by 2029.
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.
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.
Imaging systems hold greater revenue share
Demand for sensor systems remains moderate
High application drug discovery
Steady usage in biosensors
Biopharma companies remain key end users
Adoption in CROs to surge
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.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Surface Plasmon Resonance Market Analysis 2019-2029
A recent market study published by Future Market Insights (FMI) on the surface plasmon resonance market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the surface plasmon resonance market, the growth prospects of the market are obtained with maximum precision.
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.
- Imaging Systems
- Sensor Systems
- Drug Discovery
- Material Science
- Academic & Research Institutes
- Food & Beverage Industry
- Biopharmaceutical Companies
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
The report initiates with the executive summary of the surface plasmon resonance market, which includes a summary of key findings and statistics of the market. It also includes the drivers and trends pertaining to the surface plasmon resonance market.
Readers can find the definition and a detailed segmentation of the surface plasmon resonance market in this chapter, which will help them understand the basic information about the surface plasmon resonance market. Along with this, comprehensive information pertaining to surface plasmon resonance and their properties are provided in this section. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the surface plasmon resonance market report.
This section gives information about drivers, and restraints of the surface plasmon resonance market. This section also includes various opportunities and key trends of the surface plasmon resonance market.
This section gives information about pricing analysis, and application analysis,
This section explains the global market value analysis and forecast for the surface plasmon resonance market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical surface plasmon resonance market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Based on the product type, the surface plasmon resonance market is segmented into imaging system, sensor systems and reagents. In this chapter, readers can find information about the key trends and developments in the surface plasmon resonance market and market attractiveness analysis based on the product.
This chapter provides details about the surface plasmon resonance market based on the application, and has been classified into drug discovery, material science and biosensors. In this chapter, readers can understand the market attractiveness analysis based on the application.
This chapter provides details about the surface plasmon resonance market based on the end user, and has been classified into academic and research institutes, food and beverage industry, biopharmaceutical companies, CROs and others. In this chapter, readers can understand the market attractiveness analysis based on the application.
This chapter explains how the surface plasmon resonance market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan, Japan, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America surface plasmon resonance market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, and market growth based on the product type, distribution channel, and countries in North America.
This chapter provides the growth scenario of the surface plasmon resonance market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the surface plasmon resonance market based on its end users in several countries such as the U.K., France, Germany, Spain, Italy, Nordics, Benelux and the Rest of Western Europe are included in this chapter.
In this chapter, China, India, Australia and New Zealand, ASEAN and Rest of Asia Pacific countries are the prominent countries in the Asia Pacific excluding Japan region that are the prime subjects of assessment to obtain the growth prospects of the APEJ surface plasmon resonance market. Readers can find detailed information about the growth parameters of the APEJ surface plasmon resonance market during the forecast period of 2019-2029.
This section highlights the growth prospects of the surface plasmon resonance market for Japan, during the forecast period of 2019-2029
This chapter provides information about how the surface plasmon resonance market will grow in major countries in the MEA region such as GCC Countries, South Africa, North Africa and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the surface plasmon resonance market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are HORIBA, Ltd, General Electric Co., AMETEK, Inc., Biosensing Instrument Inc., Nicoya Lifesciences Inc., BiOptix Inc., XanTec bioanalytics GmbH, and Kinetic Evaluation Instruments BV.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the surface plasmon resonance market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the surface plasmon resonance market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Yesteryear Trends
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Industry Publications
- International Journal of Life Science
- Industry Associations
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits