Surface Plasmon Resonance Market to expand at a CAGR of 6.3% during 2017–2027
Future Market Insights presents detailed insights and a revised forecast of the global surface plasmon resonance market in a new report titled ‘Surface Plasmon Resonance Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).’ According to the report, the global surface plasmon resonance market is expected to expand at a CAGR of 6.3% during the forecast period 2017–2027 and reach US$ 1273.8 Mn in revenues in 2027.
Increasing demand for high end, surface plasmon resonance from end users, such as hospitals, clinics, ambulatory surgical centres, nursing centers and reference laboratories for better throughput and performance will generate opportunities for using surface plasmon resonance technique over the long run and drive the growth of the global surface plasmon resonance market. Imaging system helps in increasing the throughput at a remarkable speed and with precise motion and consistency in report generation. The increasing adoption of label-free detection techniques over labelled detection techniques due to cost-effectiveness, availability of versatile products in the SPR market and coupling of complementary techniques with SPR to enhance specificity of the test are some factors which can upsurge the demand for surface plasmon resonance market.
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Global Surface Plasmon Resonance Market: Segmentation and Forecast
Imaging system segment will remain the largest segment by the product type, accounted for over 55.7% revenue share of the market in 2016. The other segment sensor system is also anticipated to register a significant growth over the forecast period followed by biosensors segment.
Drug discovery segment will remain the largest segment by the application, accounted for over 65.3% revenue share of the market in 2016 with 6.5% CAGR over the forecast period. The second largest market is biosensors, which is accounted for over 24.8% revenue share in 2016, followed by material science, which is also anticipated to register a significant growth.
Biopharmaceutical companies segment will contribute the largest segment by the end user, accounted for over 53.2% revenue share of the market in 2016. The increasing demand for surface plasmon resonance technique at end users such as h academic & research institutes, food & beverage industry, CROs and others are also anticipated to register a significant growth over the forecast period.
Global Surface Plasmon Resonance Market: Regional Overview
The developing medical industry in respect to advanced infrastructure and increasing medical tourism in the developing countries from the APEJ such as China, India will continue to have a positive impact on surface plasmon resonance market in APEJ. The increasing adoption of imaging system and biosensors in life science R&D will helps to boost the market growth. An ease-of-use and economic convenience in the North America and Western Europe is anticipated to boost the growth of the surface plasmon resonance market over a forecast period. The rise in discretionary funding for the research and development activities for the advanced and cost effective medical devices and integration services will also drive the market in the North America and Western Europe. The MEA is at a nascent stage to the global surface plasmon resonance market and expected to show a moderate growth over a forecast period.
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Global Surface Plasmon Resonance Market: Competitive Landscape
Bio-Rad Laboratories, Inc., General Electric Co., AMETEK, Inc., Horiba, Ltd., Biosensing Instrument Inc., Nicoya Lifesciences Inc., BiOptix Inc., XanTec bioanalytics GmbH, Bio-Rad Laboratories, Inc. and Kinetic Evaluation Instruments BV are some of the key players in the global surface plasmon resonance market.
Companies in the global surface plasmon resonance market are focusing on strategic alliances such as strategic agreements, collaborations, rising research and development activities, new product launches, joint ventures, partnerships, and mergers & acquisitions to sustain in the overall competition in the surface plasmon resonance market.
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Global Surface Plasmon Resonance Market Analysis and Forecast, By Region
By region, the global surface plasmon resonance market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA). Globally, in terms of revenue, North America has been estimated to account for the highest share of 35.5% in 2017, followed by Western Europe. Meanwhile, revenue from the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the significant CAGR of 7.4% over the forecast period. The North America surface plasmon resonance market was estimated to be valued at nearly US$ 250 Mn in 2017 and is forecasted to reach a valuation of nearly US$ 470 Mn in 2027, exhibiting a CAGR of 6.7% during the period of assessment from 2017-2027. The Latin America surface plasmon resonance market was estimated to be valued at nearly US$ 50 Mn in 2017, and is anticipated to reach a valuation of nearly US$ 70 Mn in 2027, exhibiting a CAGR of 4.6% during the period of forecast. Ask Analyst@
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