The surface plasmon resonance market share is set to undergo substantial expansion, projecting a remarkable growth from US$ 910.4 million in 2022 to a luminous US$ 1807.7 million by 2032. Foreseen by Future Market Insights (FMI), this trajectory anticipates a robust Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period.
In the realm of biomolecular analysis, the quest for real-time, label-free measurements has ignited a revolution. Enter surface plasmon resonance (SPR), a game-changer fueled by escalating demand for Point-of-Care (POC) devices, surging radiology procedures, and the aging population’s healthcare needs. With diagnostic imaging facilities on the rise, the stage is set for exponential growth in the SPR market.
Yet, amidst the fervor, challenges loom. Sensitivity limitations, exorbitant costs of microfluidic integration, and the intricacies of mass-producing durable nanostructures pose formidable obstacles to SPR-based POC device development.
But where there are challenges, there are opportunities for innovation. Enter the microfluidic free-flow electrophoresis (FFE) device, a beacon of hope in biomarker discovery. Paired with SPR imaging, this breakthrough promises unparalleled efficiency in biomolecule separation and detection, propelling the SPR market to new heights.
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Driving Forces of Growth:
The surge in demand for real-time, label-free measurements of biomolecules stands as a catalyst for the market’s ascent. The increased utilization of Point-of-Care devices, a growing number of radiology procedures, a rising geriatric population, and the proliferation of diagnostic imaging facilities collectively contribute to propelling the growth of the surface plasmon resonance market.
Challenges and Innovations:
While the market thrives, it faces challenges such as a lack of detection sensitivity, the expensive cost of integrating a microfluidic chip with a sensor and a Point-of-Care system, and the intricate mass manufacturing of durable metal nanostructures on the substrate. Despite these hurdles, the industry remains dynamic, fostering innovation to overcome obstacles and continue its upward trajectory.
Microfluidic Marvels:
The market is poised to witness a notable upswing with the development of a microfluidic free-flow electrophoresis (FFE) device. This groundbreaking innovation, in conjunction with SPR imaging, serves as a cutting-edge separation and detection system for biomarker discovery. As such advancements unfold, the global surface plasmon resonance market charts a course toward unprecedented growth, promising a future illuminated by breakthroughs in diagnostics and biomedical research.
Investors, stakeholders, and industry enthusiasts are encouraged to delve into the rich landscape of the surface plasmon resonance market, where innovation meets demand, shaping the future of biomedical sciences.
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Key players
- GE Healthcare
- AMETEK.Inc.
- Horiba
Key Segments
By Product:
- Imaging System
- Sensor System
- Reagents
By Application:
- Drug Discovery
- Material Science
- Biosensors
By End User:
- Academic & Research Institutes
- Food & Beverage Industry
- Biopharmaceutical Companies
- CROs
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia-Pacific excluding Japan
- Japan
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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