MEA Surface Plasmon Resonance Market

MEA Surface Plasmon Resonance Market Size (2024 to 2029)

The size of the Surface Plasmon Resonance Market in the Middle East and Africa is forecasted to be worth USD 183.78 million by 2029 from USD 137.98 million in 2024, showcasing a CAGR of 5.9% from 2024 to 2029.

The method of surface plasmon resonance is used to examine bimolecular kinetic interactions. It's a technique for detecting label-free biomolecular interactions in real time. This method is used in material science, biosensors, and drug development to detect molecular interactions. One of the most prevalent approaches for label-free detection is surface plasmon resonance. The introduction of technologically sophisticated items, a rising number of drug development activities through academic-industrial cooperation, and the high sensitivity of label-free technologies are key drivers of the label-free detection sector.

The growth of the surface plasmon resonance market in the MEA region is expected to be fuelled by the growing incidence of chronic illnesses and other health concerns. Also, innovations and developments in the market are forecasted to push market growth. Furthermore, the other factor driving the market's expansion is the increasing use of surface plasmon resonance in drug discovery. Protein-to-protein, protein-to-small molecule, and protein-to-peptide interactions are monitored using SPR, providing crucial equilibrium and kinetic data. The increase also aids the market development in the use of SPR in the food industry.

Additionally, the SRP may also examine food quality by measuring the number of vitamins in it. SPR has numerous benefits over other techniques, such as microbiological tests, such as faster preparation, reduced assay time, and ease of use, which will expand the industry's market.

However, the shortage of skilled individuals increases the equipment costs as setting up and maintaining equipment is expensive. Only fewer competitors enter the market. Also, the presence of alternative methods, such as localized surface plasmon resonance, are less expensive and more effective; therefore, the demand is affecting the market growth as well as, and the continuous shifting of the raw materials is limiting the market's scope and the expansion of the MEA SPR market.

This research report on the Middle East and Africa surface plasmon resonance market has been segmented and sub-segmented into the following categories.

By Product:

• Imaging System    
• Sensor System      
• Reagent   

By Application:

• Drug Discovery     
• Material Science  
• Biosensor

By Country:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

Geographically, the Middle East and Africa market is estimated to record a moderate share in the global surface plasmon resonance market during the forecast period. The market growth is driven by the increase in the prevalence of chronic diseases with the increase in the elderly population. Also, improving the healthcare sector, increasing investments, and favorable government policies further drive market growth.

The South African market dominated the MEA SPR Market in 2020, and it is likely to continue its dominance throughout the forecast period. The market growth is attributed to the increase in the new advancements and developments in the technologies as it helps in increasing the specificity of the tests being conducted. In addition, to decrease reagent consumption, there is an increase in the adoption of micro fluids techniques. In addition, the rise in the market players in the market with the increase in the competition by introducing new business strategies or products, involving merges, and collaboration to maintain the position in the market.

KEY MARKET PLAYERS:

A few of the noteworthy companies in the Middle East and Africa surface plasmon resonance market covered in this report are Bio-Rad Laboratories Inc, AMETEK Inc, Bio sensing Instrument Inc, General Electric Co, and Horiba Ltd.