The Surface Plasmon Resonance Market, estimated at USD 1,107.0 Mn in 2025, is expected to exhibit a CAGR of 6.5% and reach USD 1,720.3 Mn by 2032.
The market growth is driven by increasing demand for innovative and effective drugs across diverse therapeutic areas. Advances in drug discovery, biopharmaceuticals, and digital technologies are improving treatment outcomes and operational efficiency. Supportive regulations, rising R&D investments, and a strong focus on patient-centric care are creating new opportunities for pharmaceutical companies.
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.
Global Surface Plasmon Resonance Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global surface plasmon resonance market. For instance, in 2020, Nicoya, a provider of advanced analytical instruments for the biotechnology and pharmaceutical industries, announced that they will be offering Surface Plasmon Resonance (SPR) technical support to all researchers - at no cost - during COVID-19. Nicoya’s mission is to improve human life by helping scientists succeed. With the launch of this new initiative, the company aims to support the scientific community and accelerate COVID-19 research.
Global Surface Plasmon Resonance Market: Key Developments
Increasing recent advances in surface plasmon resonance imaging and biological applications for surface plasmon resonance studies is expected to aid in the growth of the global surface plasmon resonance market. For instance, in August 2023, according to the article published in Elsevier, with the advantages of high sensitivity, label-free samples, simple operation, and rapid detection, SPR stands out from many biological detection technologies, which has aroused the strong interest of researchers. Therefore, researchers propose to combine surface plasmon resonance technology with a camera to acquire two-dimensional (2D) image information, which is called surface plasmon resonance imaging (SPRI)
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Surface Plasmon Resonance Market”- Forecast to 2030, Global Surface Plasmon Resonance Market, by Product Type (ImagingSystem, Sensor System, Reagents) and 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)
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Key Takeaways of the Global Surface Plasmon Resonance Market:
- The global surface plasmon resonance market is expected to exhibit a CAGR of 6.5% during the forecast period due to the increasing emergence of Covid-19. For instance,according to the article published in MDPI in 3 March 2023, preparing a fast SPR method for the detection of COVID-19 infection able to be performed with a portable apparatus. It can also be potentially used in the detection of virus proteins in human sputum. The study showed that SPR can be a valuable technique for the fast point-of-care detection of COVID-19 infection.
- Among application type, drug discovery segment is estimated to hold a dominant position in the global surface plasmon resonance market over the forecast period. For instance, Reaction Biology Corporation company is a provider of drug discovery services, announced that it has been selected to participate as a Specialized Center in the Chemical Biology Consortium (CBC),to Support Drug Discovery Utilizing Surface Plasmon Resonance ("SPR") Technology.
- Among region, North America is expected to be the dominant region in the global surface plasmon resonance market, due to adopation of new technology in every sector. For instance, U.S. and Canada have high end research technology and increasing funding in the researcherws by the key player helps to grow the market.
- Major players operating in the global surface plasmon resonance market include Bio-Rad Laboratories, Inc., Carterra Inc., AMETEK, Inc., Bristol Myers Squibb, Horiba, Ltd., Bruker, Biosensing Instrument Inc.
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