The Surface Plasmon Resonance Market is Estimated To Witness High Growth Owing To Increasing Adoption in R&D Activities
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Surface Plasmon Resonance Market |
Market Overview:
Surface plasmon resonance detects changes in the
refractive index near a metal surface, most commonly through the use of prism
couplers or grating couplers. This technology allows for real-time monitoring
of specific interactions, such as biomolecular interactions. It is commonly
used for analyzing biospecific interactions, such as the binding of a protein
to its ligand. Due to its high sensitivity, it can detect molecular
interactions down to low picomolar concentrations without any labeling
requirements.
Market key trends:
Increasing adoption of SPR in R&D activities is a major trend witnessed
in the global surface plasmon resonance market. SPR facilitates rapid,
high-sensitivity detection of affinity, kinetics, and concentration of
biomolecular and chemical interactions in real-time. It enables R&D
professionals to save time by simultaneously studying multiple samples and
compounds without the need for labelling. For instance, researchers use SPR to
study drug-target interactions, antibody-antigen binding, protein-ligand
association and dissociation, and receptor-hormone binding studies. This is
increasing the demand for SPR systems in pharmaceutical and biotechnology
companies globally.
Porter's Analysis
Threat of new entrants: New entrants face high capital requirements for
R&D, manufacturing and technology. Regulations also create barriers.
Bargaining power of buyers: Buyers have low bargaining power due to proprietary
technologies owned by existing players as no close substitutes exist.
Bargaining power of suppliers: Suppliers have moderate power due to limited
availability of key materials and components required.
Threat of new substitutes: Technology has limited substitutes and switching
costs are high for bioscience companies invested in existing systems.
Competitive rivalry: Intense competition exists between global players aiming
to strengthen positions through innovations.
SWOT Analysis
Strengths: Large customer base, global presence, strong investment in R&D
leading to product innovation.
Weaknesses: High reliance on few sectors, vulnerability to contract manufacturing
problems, pricing pressures.
Opportunities: Emerging economies growth, scope for productivity tools,
expanding life science verticals' demand.
Threats: Trade disputes, regulations, economic uncertainty hampering
investments, currency fluctuations.
Key Takeaways
The global Surface
Plasmon Resonance Market Demand Size is expected to witness high
growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing
investments in life science research. North America dominated the market in
2023 owing to presence of majority key players and growing focus on healthcare
industries. The market in Asia Pacific is expected to grow at fastest pace
during the forecast period, with China and India emerging as high potential
countries.
Regional analysis fast growing region is Asia Pacific due to increasing R&D
investments by pharmaceutical companies, growing bioscience research, and expanding
bioproduction facilities in emerging nations.
Key players operating in the Surface Plasmon Resonance market are Bio-Rad
Laboratories, Inc., Carterra Inc., AMETEK, Inc., Bristol Myers Squibb, Horiba,
Ltd., Bruker, Biosensing Instrument Inc. Bio-Rad Laboratories and GE Healthcare
are identified as the market leaders based on innovations, geographic presence
and size of operations.
Read
more:
https://www.dailyprbulletin.com/surface-plasmon-resonance-to-enhance-quantitative-analysis-tools/
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