How Has the Surface Plasmon Resonance Market Evolved Historically and What is its Current Size?
The surface plasmon resonance market has seen considerable growth due to a variety of factors.
• The size of the surface plasmon resonance market has been expanding rapidly in the last few years. The market value is predicted to increase from $1.19 billion in 2024 to $1.33 billion in 2025, with a compound annual growth rate (CAGR) of 12.0%.
Factors contributing to the historically significant expansion include advancements in biotechnology, heightened demand for drug discovery and development, escalating use in clinical diagnostics, increased focus on protein interaction investigations, and a rise in academic research funding.
What Is The Projected Growth Of The Surface Plasmon Resonance Template Market?
The surface plasmon resonance market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness a significant surge in the upcoming years, the market size of surface plasmon resonance is predicted to expand to $2.07 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 11.6%.
This surge in the predicted period is largely due to a growing need for customized medication, a rising application in food safety tests, ballooning emphasis on biomarker discovery, a broadening use in environmental surveillance, and an escalating usage in the agricultural biotechnology sector. The forthcoming period is also likely to be characterized by trends such as an increased demand for labeling-free identification technologies, an uptake in personalized medication, breakthroughs in nanotechnology, the evolution of portable and miniaturized SPR systems, and the amalgamation with artificial intelligence for data interpretation.
What Are The Key Drivers Fueling Growth In The Surface Plasmon Resonance Market?
The continued surge in the use of personalized medicine could significantly boost the expansion of the surface plasmon resonance market. Personalized medicine refers to a healthcare approach based on the unique genetic, environmental, and lifestyle factors of each person, to develop bespoke treatment and preventive measures. Genomic advancements, a surge in targeted therapies, and the need for more accurate and productive treatments are collectively encouraging more usage of personalized medicine. Surface plasmon resonance contributes to personalized medicine by enabling real-time examinations of bio-molecular interactions, aiding in the identification of specific biomarkers, and fine-tuning drug treatments formulated for individual patients. For instance, the Personalized Medicine Coalition—a U.S.-based hospital and healthcare organization—reported in February 2024 that the FDA green-lit 16 novel personalized treatments for rare diseases in 2023, representing an increase from six treatments in 2022. Additionally, seven of the freshly authorized personalized treatments for 2023 were cancer drugs, while three were for other illnesses and conditions. Consequently, the rising predominance of personalized medicine is facilitating the development of the surface plasmon resonance market.
What Are The Principal Market Segments In The Global Surface Plasmon Resonance Industry?
The surface plasmon resonance market covered in this report is segmented –
1) By Product Type: Imaging System, Sensor System, Reagents
2) By Technology: Prism-Based Surface Plasmon Resonance (SPR), Grating-Based Surface Plasmon Resonance (SPR), Other Technologies
3) By Application: Drug Discovery, Drug Formulation, Controlled Drug Release, Drug Cell Interaction, Material Science, Biosensors
4) By End-User: Academic And Research Institutes, Food And Beverage Industry, Biopharmaceutical Companies, Contract Research Organizations (CROs), Other End-Users
Subsegments:
1) By Imaging System: 2D Imaging Systems, 3D Imaging Systems, High-Resolution Imaging Systems
2) By Sensor System: Optical Sensor Systems, Portable Sensor Systems, Multi-channel Sensor Systems
3) By Reagents: Binding Reagents, Sample Preparation Reagents, Stabilizing Reagents
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What New Trends Are Influencing The Surface Plasmon Resonance Market?
Leading firms in the surface plasmon resonance market are innovating advanced biomolecular analysis technologies, such as injection technology, to remove the necessity for multiple dilution stages. This injection technology integrates sample dilution and injection in a single step, speeding up data collection in surface plasmon resonance (SPR) using swift, single-injection kinetics and affinity measurements. For instance, Sartorius AG, a Germany-based pharmaceutical and laboratory apparatus corporation, introduced the Octet SF3 in April 2022. This is a state-of-the-art surface plasmon resonance device tailored specifically for high-capacity, label-free biomolecular interaction analysis. The instrument's sturdy, low-maintenance design makes it suitable for both regular and occasional users. The OneStep and NeXtStep Gradient Injection technologies enhance kinetic and affinity data collection, outperforming conventional methods. The Octet SF3 is tailored to satisfy the escalating worldwide requirements for antibody fragment characterization, vaccine investigation, and biologics development.
Who Are the Key Players In The Surface Plasmon Resonance Market?
Major companies operating in the surface plasmon resonance market are:
• GE HealthCare Technologies Inc.
• Sartorius AG
• Cytiva
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• HORIBA Ltd.
• Quanterix Corporation
• Jubilant Biosys Limited
• Quantum Design Inc.
• Reichert Inc.
• NanoSPR Devices
• Creative BioMart Inc.
• Biocompare
• Carterra Inc.
• NICOYA AB
• Biosensing Instrument Inc.
• Plexera LLC
• Insplorion AB
• BioNavis Ltd.
• Affinité Instruments
• IBIS Technologies B.V.
• Bioptix Inc
What Are The Regional Insights Into The Surface Plasmon Resonance Market?
North America was the largest region in the surface plasmon resonance market in 2024. The regions covered in the surface plasmon resonance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
