Global Surface Plasmon Resonance Market to Reach $1,720.3 Million, by 2032 at 6.5% CAGR: Coherent Market Insights

/EIN News/ -- Burlingame, CA, April 21, 2025 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, the global Surface Plasmon Resonance Market size is estimated to grow from US$ 1,107.0 Million in 2025 and is forecast to reach a value of US$ 1,720.3 Million by 2032 at a CAGR of 6.5% between 2025 and 2032.

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Global Surface Plasmon Resonance Market Key Takeaways

The global surface plasmon resonance market size is projected to grow from USD 1,107 million in 2025 to USD 1,720.3 million by 2032, exhibiting a CAGR of 6.5% during the assessment period.

By product type, sensor system segment is set to account for a prominent global surface plasmon resonance market share in 2025.

Based on application, drug discovery segment will likely retain its market dominance during the forecast period. This can be attributed to increasing usage of surface plasmon resonance (SPR) in the field of drug discovery.

North America leads from the forefront when it comes to surface plasmon resonance market demand. The region is expected to account for a dominant market share of 45.1% in 2025.

Latin America accounts for the second-largest market share, as per Coherent Market Insights’ latest surface plasmon resonance market research.

Asia Pacific will likely record strong growth during the assessment period, owing to rising prevalence of chronic and infectious diseases and expanding usage of SPR in clinical diagnostics.

Increasing Drug Discovery and Development Activities Fueling Market Growth

A new report by Coherent Market Insights outlines significant surface plasmon resonance market growth factors. One major growth factor is the increasing drug discovery and development activities globally.

The pharmaceutical industry is constantly striving to develop innovative treatments for various diseases. This is expected to fuel demand for surface plasmon resonance systems during the forecast period.

Surface plasmon resonance technology has become an ideal tool in early-stage drug screening, lead identification, and characterization of kinetics. This is due to its tendency to offer real-time, label-free analysis of biomolecular interactions. Rising emphasis on drug discovery and development activities is expected to foster surface plasmon resonance market growth.

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High Equipment Costs and Lack of Skilled Professionals Limited Growth

Despite a positive growth trajectory, certain factors are limiting the surface plasmon resonance market growth to some extent. These include high cost of SPR products and a lack of skilled personnel.

Advanced SPR systems are more expensive. This limits their adoption across smaller academic institutions and research labs with limited budgets. High maintenance cost of these systems also negatively impacts the target industry.

Operating SPR systems requires specialized training and expertise. However, a lack of trained personnel, particularly in developing regions, poses a significant barrier to the adoption of SPR technologies, thereby limiting surface plasmon resonance market growth.

Rising Incidence of Chronic and Infectious Diseases Creating Growth Opportunities

The global prevalence of chronic and infectious diseases, such as cancer and autoimmune disorders, is increasing rapidly. This creates high demand for effective diagnostic and monitoring tools, including surface plasmon resonance.

SPR-based biosensors are being widely used for biomarker tracking and disease diagnosis. Thus, increasing incidence of chronic and infectious diseases, coupled with rising need for rapid and efficient diagnostic tools, will create lucrative growth prospects for SPR product manufacturers in the coming years.

Emerging Surface Plasmon Resonance Market Trends

SPR technology is gaining immense traction in food safety testing and environmental monitoring. It is being adopted to detect contaminants and toxins in food and beverage products. These expanding applications are expected to further improve the surface plasmon resonance market value through 2032.

Growing interest in personalized medicine is another key trend shaping SPR market growth. SPR technology helps companies perform real-time analysis of biomolecular interactions, identify specific biomarkers, and optimize drug therapies for individual patients.

Ongoing advancements in SPR technology are setting a perfect tone for the industry’s growth. Innovations like miniaturized sensors and integration with AI and microfluidics are making SPR more efficient and accessible. For instance, in January 2020, Nicoya launched Alto, the world’s first automated digital benchtop SPR system to accelerate drug discovery. Alto SPR system utilizes digital microfluidics and nanotechnology to deliver high quality, label-free interaction analysis while reducing the overall time and cost associated with drug discovery workflows.

Companies are focusing on developing portable SPR devices for point-of-care diagnostics and other applications. Similarly, new SPR imaging systems with improved sensitivity and resolution are making their way into the market.

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Analyst’s View

“The global surface plasmon resonance market is set to record strong growth, driven primarily by increasing drug discovery and development activities, rising demand for efficient diagnostic tools, and advancements in SPR technology,” said senior analyst Ghanshyam Shrivastava. “Rising demand for label-free detection technologies, development of portable and miniaturized SPR systems, and expanding usage of SPR technology in food safety testing will likely create a conducive environment for market players to tap into new growth opportunities.”

Competitor Insights

Key companies listed in surface plasmon resonance market report:

• Carterra Inc.
• Bio-Rad Laboratories, Inc.
• AMETEK, Inc.
• Horiba, Ltd.
• Bruker
• Bristol Myers Squibb
• Biosensing Instrument Inc.
  

Key Developments

In September 2024, Carterra Inc. expanded its LSA and LSA label-free HT-SPR instruments by introducing Carterra Ultra, its most sensitive biosensor platform for drug discovery applications. The new platform offers unparalleled sensitivity and throughput and is designed to accelerate development of biologics. It has the tendency to enable researchers to analyze thousands of biomolecular interactions in real time with excellent precision.

In February 2024, Bruker Corporation unveiled the new Triceratops SPR #64 Surface Plasmon System instrument. This novel system is designed to facilitate drug discovery. It combines high-sensitivity detection with a new microfluidics concept to enhance the efficiency and precision of molecular interaction analysis.

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Detailed Segmentation:

By Product Type:

• Imaging System
• Sensor System
• Reagents
  

By Application:

• Drug Discovery
  • Drug Formulation
  • Controlled Drug Release
  • Drug-cell Interactions
• Material Science
  • New Material and Coatings
  • Process Optimization
• Biosensors
  • Food Safety
  • Environmental Safety
  • Cancer
  • DNA
  • Nanosafety
    

By Region:

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U,K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa

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