The global surface plasmon resonance market is majorly driven by the increasing use of SPR in drug development across several sectors.

SPR is used in drug development to monitor protein-protein, protein-peptide, and protein-small molecule interactions, which provides crucial kinetic and equilibrium data. Characterization of reaction affinity and binding kinetics between a proposed drug and its receptor is required for novel drug development. The SPR method can measure binding kinetics in real-time and without the use of a label. The global surface Plasmon resonance market has grown rapidly in recent years, and it is expected to grow by 1245 USD million at a CAGR of 7% over the projected period.

SPR is used in the food industry to ensure food quality by quantifying vitamins across food matrices. Furthermore, the use of SPR in the food sector has several benefits such as simplicity of use, easier and faster sample preparation, and decreased assay time over other techniques such as microbiological assays, which is predicted to contribute to market expansion.

However, in the coming years, high pricing caps of the SPR products is poised to cut short full growth potential of the global surface plasmon resonance market. For instance, the cost of imaging equipment supplied by Biacore (bought by GE Healthcare) ranges from $200,000 to $300,000. Furthermore, the reagents that support such systems are quite expensive, increasing the overall cost per contact.

The development of SPR-based point-of-care (POC) devices is predicted to provide profitable growth prospects for global surface plasmon resonance market participants. On the other hand, the development of SPR-based POC devices is hampered by several issues, including a lack of detection sensitivity, mass manufacture of strong metal nanostructures on the substrate, and the expensive cost of coupling a microfluidic chip with a sensor and a POC system.

Furthermore, increasing the dependability of studied kinetic parameters through innovation in analyzing software or sensors is projected to create novel options for small sample volume analysis and high-affinity measurement.

The use of innovation in the formation of imaging software employed in SPR for the research of kinetic parameters of biomolecular interactions is crucial for improving findings repeatability. SPR software is now responsible for protocol creation, sample management, data collecting and analysis, and autoprocessing, and is rather complicated in design. On the other hand, companies are expected to focus their efforts in the near future on delivering more user-friendly software with increased security features.

Microfluidics appears to be the most effective method for reflecting the intrinsic kinetics of binding molecules via SPR. Microfluidics may provide for maximum sensitivity in SPR surface measurements while also allowing for low sample consumption, great baseline stability, and the possibility for relatively high mass transfer.

Microfluidic cartridges are used for sample delivery and have pneumatic values that allow certain channels to be closed, allowing control overflow routes. This allows samples or buffers liquid quantities to be guided to different sensor surface locations. SPR is used to detect biomolecular interactions on nanostructured surfaces such as nanohole arrays and is not limited to planar multilayers.

Nanoparticles may be used for more than just surface-plasmon aided field amplifiers; they can also be used as intrinsic refractive index sensors. A sensor surface is made up of a large number of nanopores organized in a periodic pattern in a metal layer.

Adroit Market Research's report spans the years 2018 to 2028 and includes a wide range of market developments. This research report also offers critical information on growth drivers, roadblocks, and opportunities. The market is expected to increase from 2018 to 2020, with 2020 serving as the base year, and from 2021 to 2028 serving as the forecast years.

This analysis helps report users to evaluate the Surface Plasmon Resonance market based on a variety of factors such as economies of scale, brand loyalty, switching costs, existing distribution channels, manufacturing rights & patents, capital investments, government regulations, the impact of advertisements, and consumer preferences. This condensed data is intended to help important decision-makers make better decisions.

This study also looks into whether new entrants should enter the global surface plasmon resonance industry. Kinetic Evaluation Instruments BV, Bio-Rad Laboratories, Inc., AMETEK, Inc., Nicoya Lifesciences Inc., and Biosensing Instrument Inc. are the key service providers in the global Surface Plasmon Resonance market.

On considering the product type, the global market for surface plasmon resonance is fragmented into imaging systems, reagents, and sensor systems.

In terms of the application, the global market for surface plasmon resonance is fragmented into material science, biosensors, as well as drug discovery.

In terms of geographical background, the surface plasmon resonance industry is expected to grow in North America. The increasing usage of biosensors and imaging systems in life science research and development are expected to fuel the region's surface plasmon resonance market growth.

Key Segments of the Global Surface Plasmon Resonance Market

Product Type Overview, 2018-2028 (USD Million)                                        

• Reagents
• Sensor System
• Imaging Systems

Application Overview, 2018-2028 (USD Million)

• Material Science
• Biosensors
• Drug Discovery

Regional Overview, 2018-2028 (USD Million)

North America 

•          U.S.

•          Canada

Europe

•          France

•          UK

•          Germany

•          Rest of Europe

Asia Pacific

•          China

•          Japan

•          India

•          Rest of Asia Pacific

South America

•          Brazil

•          Mexico

•          Rest of South America