Surface Plasmon Resonance Market: Growth Influenced by Need to Address Unmet Requirements of Patients and Increasing Prevalence of Stress

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Overview

Surface Plasmon Resonance (SPR) is a real-time monitoring technique for label-free bimolecular interactions. One of the molecules is immobilized on a metallic film in this process. Gold is commonly used as a metallic film because it produces an SPR signal at a variety of reflectance angles and wavelengths. Numerous spectroscopic measurements, such as fluorescence, Raman scattering, and second-harmonic generation, use surface plasmons to improve surface sensitivity.

By the end of 2027, the global surface plasmon resonance market is expected to be worth US$ 1,244.7 million.

Drivers

Over the forecast period, increasing application of SPR in the field of drug development is expected to propel growth of the global surface plasmon resonance market. SPR is used in drug development to monitor protein-protein, protein-peptide, and protein-small molecule interactions, providing useful kinetic and equilibrium information. The affinity of reactions and binding kinetics between a potential drug and its receptor must be determined before a new drug can be developed. The SPR technique can calculate binding kinetics in real time and without using labels.

The growing use of SPR in the food industry is also expected to boost market growth. SPR is used in the food industry to track food safety by quantifying vitamins in food matrices. Furthermore, the usage of SPR in the food industry has a number of advantages over alternative techniques such as microbiological assays, including ease of use, easier and faster sample processing, and shorter assay times, all of which are expected to contribute to the market’s development.

In terms of value, North America dominated the global surface plasmon resonance market in 2019, contributing about 35.7 percent market share, led by Europe.

Restraints

Over the forecast period, the global surface plasmon resonance market is expected to be hampered by the high cost of SPR materials. The cost of imaging systems from Biacore (acquired by GE Healthcare) ranges from $200,000 to $300,000. Furthermore, the reagents that sustain such devices are very expensive, increasing the total cost per contact.

Furthermore, a scarcity of qualified practitioners, especially in emerging economies, to carry out the protocol is expected to stymie market development. The technique is detailed, and it must be carried out by a qualified practitioner in order to achieve the desired outcomes with minimal manual error.

Opportunities

Players in the global surface plasmon resonance market are expected to benefit from the development of SPR-based point-of-care (POC) products. Several reasons, such as the lack of detector sensitivity, mass production of rigid metal nanostructure on the substrate, and the high cost of combining a microfluidic chip with a sensor and a POC system, are hindered the development of SPR-based POC systems.

Furthermore, enhancing the accuracy of studied kinetic parameters by advancements in analyzing tools or sensors is expected to open up new possibilities for small sample volume analysis and high affinity calculation. A crucial aspect for increasing reproducibility is innovation in imaging software used in SPR for the study of kinetic parameters of biomolecular interactions. SPR software, which is relatively complex in nature, is currently responsible for protocol design, sample control, data collection and interpretation, and auto processing. In the near future, though, businesses are likely to concentrate on releasing more user-friendly applications and added security features.

The global surface plasmon resonance market’s Drug Discovery segment was worth US$ 504.6 million in 2019 and is projected to grow at a CAGR of 6.1 percent to US$ 739.7 million by 2027.

Market Trends

Microfluidics continues to be the most effective method for using SPR to reflect the intrinsic kinetics of binding molecules. Microfluidics may help achieve optimum sensitivity in SPR surfaces while using less sample, maintaining a stable baseline, and allowing for relatively high mass transfer. A microfluidic cartridge with integrated pneumatic values is used for sample distribution, allowing separate channels to be closed and flow paths to be regulated. This allows different sample or buffer liquid volumes to be guided to different sensor surface spots.

SPR is used to detect biomolecular interactions on nanostructured structures, such as nanohole arrays, and is not limited to planar multilayers. Nanoparticles can be used for more than just surface plasmon aided field amplifiers; they can also be used as intrinsic refractive index sensors. A segregator is a metal film with a large number of nanopores arranged in a periodic array.

Key Developments

To increase their market share, key market participants are focusing on a variety of marketing and promotion tactics. At a series of Carterra Inc. symposia in September 2019, Huntsman Cancer Institute, Bristol Myers Squibb, and Boehringer Ingelheim, a shared information about how to use high throughput SPR technologies to investigate the complete kinetic and epitope diversity of antibody libraries.

Carterra Inc., announced in November 2018 that it will begin its seminar series on speeding antibody development with a new event in Cambridge, Massachusetts, to highlight the growing adoption of the Carterra LSA platform, which combines proprietary microfluidics technology with real-time array SPR.

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Surface Plasmon Resonance Market – Competitive Landscape

Key players functioning in the global prosthetic liners market consists of Bio-Rad Laboratories, Inc., Carterra Inc., General Electric Co., AMETEK, Inc., Bristol Myers Squibb, Horiba, Ltd., Bruker, and Biosensing Instrument Inc.

Main points in Surface Plasmon Resonance Market Report Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Surface Plasmon Resonance Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Surface Plasmon Resonance Industry Impact

Chapter 2 Global Surface Plasmon Resonance Competition by Types, Applications, and Top Regions and Countries
2.1 Global Surface Plasmon Resonance (Volume and Value) by Type
2.3 Global Surface Plasmon Resonance (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Surface Plasmon Resonance Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Surface Plasmon Resonance Market Analysis
Chapter 6 East Asia Surface Plasmon Resonance Market Analysis
Chapter 7 Europe Surface Plasmon Resonance Market Analysis
Chapter 8 South Asia Surface Plasmon Resonance Market Analysis
Chapter 9 Southeast Asia Surface Plasmon Resonance Market Analysis
Chapter 10 Middle East Surface Plasmon Resonance Market Analysis
Chapter 11 Africa Surface Plasmon Resonance Market Analysis
Chapter 12 Oceania Surface Plasmon Resonance Market Analysis
Chapter 13 South America Surface Plasmon Resonance Market Analysis
Chapter 14 Company Profiles and Key Figures in Surface Plasmon Resonance Business
Chapter 15 Global Surface Plasmon Resonance Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology

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