Surface Plasmon Resonance Market: Snapshot
Surface plasmon resonance (SPR) optical technique has advanced the biology behind molecular interactions. The drive for developments in this direction has stemmed from the need to study protein-protein interactions and key characteristics of intermolecular interactions such as specificity and affinity in molecular binding. The market has witnessed sizable potential from the growing adoption of surface plasmon resonance biosensors. They hold great potential in research related to the study of bio-molecular interactions in the life sciences and pharmaceutical industries. The significant pace of commercialization of SPR biosensors has lend solid impetus to the markets growth. Advances in instrumentation technologies used in SPR biosensors have paved way to innovations in SPR market.
Wide diversity of applications of SPR in molecular analysis bode well for the market. A case in point is the growing popularity of SPR in fragment-based lead discovery. Growing number of drug discovery programs based on fragment-based drug discovery (FBDD) adopted by pharmaceutical players in developing and developed nations is boosting the market. Integration of high-throughput screening with FBDD has opened new possibilities in the market in recent years. Another key avenue comes from the need to expedite development of therapeutic antibodies. Sizable research funding to develop efficacious biosimilar is boosting the market. Over the past few years, surface plasmon resonance imaging as high-throughput optical sensing methodology are being adopted in new application areas, such as in disease diagnosis and in detecting foodborne pathogens. Recent progress in multi-array detection system based on SPR imaging technology, such as in charge-coupled device cameras, has advanced the high-throughput screening of biomarkers.
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.
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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.
Global Surface Plasmon Resonance Market: Trends and Opportunities
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.
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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.
Global Surface Plasmon Resonance Market: Regional Analysis
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.
Global Surface Plasmon Resonance Market: Companies Mentioned
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.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information: Tailwinds and headwinds molding the markets trajectory Market segments based on products, technology, and applications Prospects of each segment Overall current and possible future size of the market Growth pace of the market Competitive landscape and key players strategies
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This post was originally published on Space Market Research