Future Market Insights (FMI) deliver key insights on revised forecast of the global surface plasmon resonance market in its newly released report. A reporter from FMI has fielded several questions on the basis of forecasted study of global surface plasmon resonance market.
What is your take on expansion of global surface plasmon resonance market?
Well according to FMI, the global market is anticipated to expand at 6.3% CAGR during the forecast period (2017-2027). The global market is estimated to reach approximately US$ 1300 Mn, in terms of revenues by the end of 2027.
Why do you think the global market for surface plasmon resonance will expand at significant CAGR?
Rising demand for high end, surface plasmon resonance from end users like clinics, ambulatory surgical centers, hospitals, nursing centers, as well as reference laboratories for better throughput and the performance will create opportunities for using surface plasmon resonance technique for the long time period. This is the key driving factor for the growth of the market. Imaging system helps in increasing the quantity at a remarkable speed as well as with precise motion and consistency in report generation. Owing to cost effectiveness, adoption of label-free detection techniques has been increasing as compared to that of labelled detection. This is anticipated to surge the demand for surface plasmon resonance throughout the assessment period.
In terms of product type, how the global market has been segmented and which is leading segment in the market?
The global market has been segmented on the basis of product type into imaging system segment and sensor segment. The imaging system segment was anticipated to procure more than half of the total revenue share of the market in the year 2016. However, the sensor segment is projected to witness significant expansion over the assessment period.
How will application segments perform in the global market throughout the assessment period?
Typically, the market has been segmented into material science, drug discovery and biosensors segments based on application type. The drug discovery segment was likely to procure nearly two-third share of the global market, in terms of revenues in the year 2016 with an expansion of 6.5% CAGR throughout the assessment period. Biosensors is the second largest market that accounted for nearly one-fourth revenue share of the global market in the year 2016. The segment is estimated to be followed by material science that is estimated to register significant expansion.
What is your take on growth of APEJ surface plasmon resonance market?
The emerging medical industry with respect to improved infrastructure and rising medical tourism in the emerging countries from the APEJ like India and China are likely to contribute to the growth of the market in APEJ region. Rising acceptance of biosensors and imaging system in life science R&D will fuel the growth of the market. Eoconomic convenience and ease-of-use in the Western Europe and North America is projected to fuel the growth of the global market.
What are the key competitors in the global surface plasmon resonance market?
Well, BiOptix Inc., Bio-Rad Laboratories, Inc., AMETEK, Inc., General Electric Co., Horiba, Ltd., Nicoya Lifesciences Inc., and Biosensing Instrument Inc. are leading players operating in the global market. However, Kinetic Evaluation Instruments BV, XanTec bioanalytics GmbH, and Bio-Rad Laboratories, Inc. have also consolidated their footprints in the global market.
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