Surface Plasmon Resonance Market Size, Share, Industry Trends and Forecast to 2030

Surface Plasmon Resonance Market Size & CAGR in 2021

The global surface plasmon resonance market is expected to reach a market size of USD 1.5 billion by the end of 2021, with a compound annual growth rate (CAGR) of 5% during the forecast period.

COVID-19 Impact on the Surface Plasmon Resonance Market

The surface plasmon resonance market has been significantly impacted by the COVID-19 pandemic. The global lockdowns and restrictions on research activities have led to a slowdown in the market growth. However, as the world moves towards recovery, the market is expected to bounce back with increased investments in research and development.

Surface Plasmon Resonance Dynamics

Surface plasmon resonance (SPR) is a phenomenon that occurs when light hits a metal surface and causes the free electrons to oscillate. This oscillation leads to the generation of surface plasmons, which can be used for various applications such as sensing, imaging, and spectroscopy. The dynamics of SPR have made it a valuable tool in the field of biosensors, drug discovery, and medical diagnostics.

Segments and Related Analysis

The surface plasmon resonance market can be segmented based on technology, application, and end-user. The key segments include SPR imaging, SPR sensors, and SPR microscopy. These segments cater to a wide range of industries including healthcare, pharmaceuticals, biotechnology, and research institutions.

By Region Analysis

The surface plasmon resonance market is analyzed based on regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Each region has its own set of dynamics and market drivers that impact the overall growth of the surface plasmon resonance market.

Key Market Players and Competitive Landscape

Some of the key players in the surface plasmon resonance market include GE Healthcare, Biosensing Instrument Inc., HORIBA Scientific, and Bio-Rad Laboratories. These companies are actively involved in product development, strategic partnerships, and acquisitions to maintain their competitive edge in the market.

Recent Happenings in the Surface Plasmon Resonance Market

In recent years, the surface plasmon resonance market has witnessed significant developments such as the launch of new technologies, collaborations between industry players, and increased investments in research. For example, GE Healthcare introduced a next-generation SPR system that offers enhanced sensitivity and throughput for biomolecular interaction analysis. These developments are expected to drive the growth of the surface plasmon resonance market in the coming years.