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(Medical-NewsWire.com, July 11, 2018 ) The western blotting market is expected to reach USD 730.7 Million in 2021 from USD 574.8 Million in 2016, growing at a CAGR of 4.9%. Increasing number of research activities and R&D spending by pharmaceutical and biotechnology companies, rising prevalence of HIV/AIDS, growing proteomics market, growing number of industry-academic research collaborations, increasing demand for personalized medicine, and new product launches are expected to drive the growth of the market in the coming years.
The global market is segmented on the basis of product, application, and end user. By product, the market is categorized into consumables and instruments. The consumables segment is estimated to account for the largest share of the global market, by product in 2016. The western blotting instruments segment is segmented into gel electrophoresis instruments, blotting systems, and imagers. The blotting systems segment is expected to account for the largest share of the instruments market, by type in 2016 and is expected to grow at the highest CAGR during the forecast period (2016-2021). The western blotting consumables segment is further segmented into reagents, kits, and others (transfer membranes, blotting papers, primary & secondary antibodies, and gels, among others).
Based on the applications, the global western blotting market is segmented into biomedical & biochemical research, disease diagnostics, agriculture, and others (quality control and biologics). The biomedical & biochemical research segment is expected to account for the largest share of the global market, by application in 2016. However, the disease diagnostics segment is projected to grow at the highest CAGR from 2016 to 2021, owing to increasing diagnosis, incidences, and prevalence of HIV, HSV, HBV, Lyme disease, and mad cow’s disease among others.
The western blotting market, by end user is segmented into academic & research institutes, pharmaceutical & biotechnology companies, diagnostic centers, and others (CROs, food & beverage companies, and forensic laboratories). The academic & research institutes segment is expected to command the largest share of the global market, by end user in 2016. However, the diagnostic centers segment is projected to grow at the highest CAGR from 2016 to 2021.
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On the basis of region, this market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. The U.S. is the largest market in North America, owing to the increasing prevalence of HIV and Lyme disease, U.S.- China collaborative program for biomedical research, rise in research funding and increasing production of genetically modified crops, and rising number of conferences. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing government interest in biomedical & biotechnology industry in China, presence of bioclusters in China and India, government initiatives supported by funding in Japan, growing pharmaceutical industry in India backed by government initiatives, Korea-U.S. Free Trade Agreement (KORUS), and growing prevalence of HSV in south east Asia.
The western blotting market is expected to be dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the highest rate during the forecast period.
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Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), GE Healthcare (U.S.), Advansta, Inc. (U.S.), LI-COR Biosciences (U.S.), PerkinElmer, Inc. (U.S.), Bio-Techne Corporation (U.S.), Merck KGaA (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), and Cell Signaling Technology, Inc. (U.S.) are some of the key players in the market worldwide.
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