Surface Plasmon Resonance Market To Surpass US$ 1,244.7 Million By 2027 - Coherent Market Insights

SEATTLE - Jan. 13, 2021 - PRLog -- Surface plasmon resonance (SPR) is used to detect the interaction of two different molecules in which one is mobile and one is fixed on a thin gold film and to study molecular interactions. The technology finds application in drug discovery, material science, and biosensors.

The global Surface Plasmon Resonance Market is estimated to account for US$ 1,244.7 Mn in terms of value by the end of 2027.

Global Surface Plasmon Resonance Market: Opportunities

Increasing R&D in miniaturization and cost reduction of products related to SPR technique is expected to offer lucrative growth opportunities for players in the market. Localized SPR (LSPR) sensors possess a smaller footprint and are more cost‐effective. Moreover, these sensors demonstrate higher sensitivity to small variations of the refractive index compared to conventional SPR metallic thin film sensors.

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Global Surface Plasmon Resonance Market: Restraints

Temperature fluctuations in an SPR-based system affect the final outcome as these fluctuations change the ratio of association rate to dissociation rate and affects rate of efficiency of binding events.

Key Takeaways:

The Material Science segment in the global surface plasmon resonance market was valued at US$ 73.8 Mn in 2019 and is expected to reach US$ 102.3 Mn by 2027 at a CAGR of 5.1% during the forecast period. The growth of the segment is attributed to increasing use of Surface Plasmon Resonance in pharmaceutical industry.

The Imaging System segment held dominant position in the global surface plasmon resonance market in 2019, accounting for 56.4% share in terms of value, followed by reagents segment, respectively.

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Global Surface Plasmon Resonance Market: Competitive Landscape

Major players operating in the global surface plasmon resonance market include, Bio-Rad Laboratories, Inc., Carterra Inc., General Electric Co., AMETEK, Inc., Bristol Myers Squibb, Horiba, Ltd., Bruker, and Biosensing Instrument Inc.

Global Surface Plasmon Resonance Market: Key Developments

In August 2019, Carterra Inc. started a Customer Experience Center (CEC) and office in Munich, Germany, owing to rapid adoption of Carterra's LSA platform in the European market

In June 2018, Bruker announced the launch of its new SierraTM SPR-32 system with new instrument control software to enable high SPR throughput, at the European SLAS 2018 meeting.

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