Surface Plasmon Resonance Market

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2. SURFACE PLASMON RESONANCE MARKET ANALYSIS Surface Plasmon Resonance Market, By Product Type (Imaging System, Sensor System, Reagents), By Application (Drug Discovery (Drug Formulation, Controlled Drug Release, Drug-cell Interactions), Material Science (New Material and Coatings, Process Optimization), Biosensors (Food Safety, Environmental Safety, Cancer, DNA, Nanosafety)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Surface Plasmon Resonance Market – InsightsSurface Plasmon Resonance (SPR) is a technique used to monitor label-free bimolecular interactions in real time. In this technique, one of the molecules is immobilized on metallic film. Metallic film is usually made of gold as it gives a SPR signal at convenient combinations of reflectance angle and wavelength. Surface plasmons are used to enhance the surface sensitivity of several spectroscopic measurements such as fluorescence, Raman scattering, and second-harmonic generation.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: DriversIncreasing application of SPR in the field of drug discovery is expected to boost growth of the global surface plasmon resonance market over the forecast period. In drug discovery, SPR is used to monitor protein-protein, protein-peptide, and protein-small molecules interactions providing valuable kinetic and equilibrium data. Characterization of affinity of reactions and binding kinetics between a potential drug and its receptor is mandatory for the development of a new drug. SPR technique can measure the binding kinetics in real time and in a label-free fashion.Increasing use of SPR in the food industry is also expected to propel growth of the market. In the food industry, SPR is used to monitor food quality by quantification of vitamins in food matrices. Moreover, use of SPR in food industry offers various advantages such as ease of use, simpler and faster sample preparation, and reduced assay time over alternative techniques such as microbiological assays, which is also expected to aid in growth of the market.North America region held dominant position in the global surface plasmon resonance market in 2019, accounting for 35.7% share in terms of volume, followed by Europe.

4. Figure 1. Global Surface Plasmon Resonance Market Value (US$ Mn), by Region, 2019

5. Global Surface Plasmon Resonance Market: Restraints • High cost of the SPR products is expected to hinder growth of the global surface plasmon resonance market over the forecast period. For instance, cost of imaging systems offered by Biacore (acquired by GE Healthcare) range between US$ 200,000 and US$ 300,000. Moreover, reagents supporting such systems are also very costly and increase the overall cost per interaction. • Moreover, lack of skilled professionals, especially in emerging economies, to perform the protocol is also expected to hamper growth of the market. The protocol is specific and requires a trained professional to carry out the procedure in order to obtain the desired results with minimum manual error.

6. Global Surface Plasmon Resonance Market: Opportunities • Development of SPR-based point-of-care (POC) devices is expected to offer lucrative growth opportunities for players in the global surface plasmon resonance market. However, the development of SPR-based POC devices is hampered by several factors such as detection sensitivity shortage, mass fabrication of durable metal nanostructure on the substrate, and high cost incurred for the combination of microfluidic chip with the sensor and the POC system. • Moreover, improving reliability of analyzed kinetic parameters by innovation in the analyzing software or sensors is also expected to provide unique opportunities for small sample volume analysis and high affinity measurement. Innovation while developing imaging software used in SPR for the analysis of kinetic parameters of biomolecular interactions is a key aspect for increasing reproducibility of results. Presently, SPR software is responsible for protocol design, sample management, data collection and analysis, and auto processing and is relatively complex in design. However, companies are expected to focus on launching more user-friendly software with additional security features in the near future.

7. Drug Discovery segment in the global surface plasmon resonance market was valued at US$ 504.6 Mn in 2019 and is expected to reach US$ 739.7 Mn by 2027 at a CAGR of 6.1% during the forecast period.

8. Market Trends/Key Takeaways • Microfluidics appears to be the most powerful approach to reflect the intrinsic kinetics of binding molecules through SPR. Microfluidics may facilitate maximum sensitivity in SPR surface along with low sample consumption, excellent baseline stability, and potential for relatively high mass transfer. Microfluidic cartridge is used for sample delivery with incorporated pneumatic values that allows closing of specific channels, thereby providing control over the flow paths. This enables sample or buffer liquid volumes to be directed to different surface spots of the sensor. • SPR phenomenon not restricted to planar multilayers and is applied to sense biomolecular interactions on nanostructured surfaces such as nanoholes arrays. The use of nanoparticles is not only restricted to surface-plasmon assisted field amplifiers, but can also be exploited as intrinsic refractive index sensors. Large number of nanopores arranged in a periodic array in a metal film is used as a sensor surface. .

9. 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 • Key players in the market are focused on adopting various marketing and promotion strategies to enhance their market share. For instance, in September 2019, Bristol Myers Squibb, Boehringer Ingelheim, and the Huntsman Cancer Institute offered insight on using high throughput SPR technology to explore the full kinetic and epitope diversity of antibody libraries at a series of symposia held by Carterra Inc. across the U.S. and Europe. • Similarly, in November 2018, Carterra Inc. announced to continue its seminar series on accelerating antibody discovery with a new event in Cambridge, Massachusetts to highlight the increasing adoption of the Carterra LSA platform that is an integration of patented microfluidics technology and real-time array SPR.

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