Surface Plasmon Resonance (SPR) is the resonance oscillation of conduction electrons at the interface between negative dielectric constant materials and positive dielectric constant materials excited by incident light. When polarized light irradiates the conductive surface at the interface of the two media, SPR will occur. It produces a kind of electron charge density wave called plasma to reduce the intensity of the reflected light at a resonance angle, which is proportional to the quality of the sensor surface.
SPR can be divided into imaging system, sensor system and reagent by type, with market share of 77.16%, 12.02% and 10.82% in 2019, respectively. It is an optical phenomenon that can detect the interaction between biomolecules in real time. It is often used in life sciences, biosensing, and drug discovery. In 2019, the market share of each application field was 16.75%, 11.41%, and 66.24%, respectively. These industries have a great demand for Surface Plasmon Resonance, which has promoted the development of this industry.
Prospects Analysis of the Surface Plasmon Resonance (SPR) Industry in Various Regions
As the largest revenue market, North America has been developing well, with a market share of 42.56% in 2015 and 41.52% in 2019, a decrease of 1.04%. The United States has always pursued a policy of encouraging consumption, so private consumption occupies the most important position in GDP. The growth in the demand for consumer goods and the growth of GDP has promoted the development of the Surface Plasmon Resonance (SPR) industry. However, competition in the North American market is fierce. Some large companies occupy a large market share in the Surface Plasmon Resonance (SPR) industry, while some emerging small and medium-sized enterprises have limited development.
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European Surface Plasmon Resonance (SPR) has relatively advanced technology and related scientific research and development. Major suppliers cooperate in the development of new drugs and new technologies, occupying a huge market for Surface Plasmon Resonance (SPR). In 2019, its market share was 38.53%, ranking second. It is expected that the European Surface Plasmon Resonance (SPR) industry will continue to develop.
With a large population, there is a huge demand for life science products, health products and health services in China. According to research data, China\'s market share ranked first in the Asia-Pacific market in 2019. The increasing demand in the Chinese market will promote the development of the Surface Plasmon Resonance (SPR) industry in the Chinese market.
Japan is one of the richest and most complex consumer markets in Asia. With a high level of scientific R&D and medical treatment, people have a great demand for life science products, health products and health services, which has promoted the development of the Surface Plasmon Resonance (SPR) industry. In India, the large gap between rich and poor, and the low level of research and medical care in most fields restrict the research and development of Surface Plasmon Resonance (SPR). However, India\'s active participation in East Asian cooperation provides opportunities for the development of the Surface Plasmon Resonance (SPR) industry.
Compared with Asia, Europe and other continents, South America’s economic aggregate is relatively small, and its level of research and medical care is lower than that of developed countries, but its demand for Surface Plasmon Resonance (SPR) is relatively large, which is a potential market.
In general, with the development of the economy, the increase in downstream demand, and the progress of the life science industry, the Surface Plasmon Resonance (SPR) market will be further developed. It is expected that Asia-Pacific and South America will become the fastest growing markets for the Surface Plasmon Resonance (SPR) industry.
Companies in the industry are mainly from the United States, with a high degree of market concentration. The top three companies are Cytiva, Fortebio, AMETEK, Inc., with the revenue market share of 44.18%, 24.45%, 9.12% in 2019.
Forecast of Surface Plasmon Resonance (SPR) Market Development Under the Influence of COVID-19
Under the influence of the epidemic, people pay more and more attention to life sciences and health care, which puts forward requirements for enterprises to develop drugs and life science products. Therefore, the increased demand for Surface Plasmon Resonance (SPR) by enterprises has promoted the development of the industry. However, COVID-19 is changing people\'s lifestyle and health awareness. People pay more and more attention to health issues, and the country pays more and more attention to medical care, which promotes the research of life sciences and the application of Surface Plasmon Resonance (SPR), such as Surface Plasmon Resonance (SPR)-based nucleic acid detection technology. Although the epidemic has gradually improved, the market demand for the Surface Plasmon Resonance (SPR) industry will continue to grow.
According to our research, the Global Surface Plasmon Resonance (SPR) market has a total revenue of 233.05 M USD back in 2015, and increased to 311.46 M USD in 2019. With the promotion of the industry and the increase in demand in major regions, the Surface Plasmon Resonance (SPR) industry will continue to develop. We made the prediction that the value of Surface Plasmon Resonance (SPR) markets can be 611.53 M USD by 2025. The CAGR of Surface Plasmon Resonance (SPR) is 11.90% from 2019 to 2025.
As a general detection platform, Surface Plasmon Resonance (SPR) technology, is widely used in drug screening, scientific research and other fields. Due to the complex structure, the core technology is monopolized by some countries. With the development of science and technology, more and more attention is paying to health issues, and the requirements for drugs and life science products are getting higher and higher, which provides opportunities for the development of the Surface Plasmon Resonance (SPR) industry. Companies should increase R&D investment to meet people\'s life and health needs and achieve long-term development.
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