Biotechnology is the fastest growing segment fueling the growth of Surface Plasmon Resonance Market
Market Overview:
Surface Plasmon Resonance (SPR) measures biomolecular interactions by detecting minute changes in the refractive index near a metallic surface. It has applications in areas like biotechnology, material science, and healthcare. The technology allows label-free, real-time analysis of biomolecular binding events like DNA-protein interactions, antibody-antigen reactions, and cell signaling pathways.
Market key trends:
One of the key trends in the Surface Plasmon Resonance Market is the increasing adoption of label-free detection techniques. Label-free detection methods help eliminate the need for complex labeling procedures and have become increasingly popular as they provide accurate, high-sensitivity measurements in real-time. Label-free SPR technology is being utilized extensively in areas like antibody characterization, biomarker discovery, and drug discovery & development processes. This is expected to drive the demand for SPR systems during the forecast period.
Segment Analysis
Content: The global surface plasmon resonance market is segmented by product, application, end-user, and region. Based on product, the market is divided into spectrometer, sensors, reagent, kit. Among these, the spectrometer segment dominated the market with a share of over 35% in 2022. The segment is dominant as spectrometers provide accurate detection and real-time analysis of biomolecular interactions without labelling which drives their adoption.
Key Takeaways
Content: The global Surface Plasmon Resonance Market Demand Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing R&D spending and growing applications of SPR in drug discovery.
Regional analysis
The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to increasing R&D investments in biotechnology and pharmaceutical sector in emerging economies such as China and India. North America dominated the market with a share of more than 35% in 2022 due to high adoption of SPR in biopharmaceutical companies and presence of major market players in the region.
Key players
Key players operating in the surface plasmon resonance market are Bio-Rad Laboratories, Inc., Carterra Inc., AMETEK, Inc., Bristol Myers Squibb, Horiba, Ltd., Bruker, and Biosensing Instrument Inc. Major players are focusing on new product launches and business expansion strategies to increase their market share in the surface plasmon resonance market. For instance, in 2022, Bruker launched the new SPR platform called Biacore T200 which provides robust and reproducible results for protein-protein interactions and binding studies.
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