(PharmaNewsWire.Com, May 12, 2021 ) The growth of the overall market can be attributed to the increasing number of research activities and R&D spending by pharmaceutical and biotechnology companies, rising prevalence of HIV/AIDS, and growing proteomics market are key factors driving the demand for western blotting instruments and consumables, increasing demand for personalized medicine, and new product launches are some of the other factors driving the growth of this market.
[169 Pages Report] The western blotting market is projected to reach USD 730.7 Million by 2021 from USD 574.8 Million in 2016, at a CAGR of 4.9% in the next five years (2016 to 2021).
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.
Market Dynamics
1. Increasing Research Activities and R&D Spending By Pharmaceutical and Biotechnology Companies 2. Rising Prevalence of HIV/Aids 3. Growing Proteomics Market 4. Growing Number of Industry-Academic Research Collaborations 5. Increasing Demand for Personalized Medicine 6. New Product Launches
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).
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 geographical regions mapped in the report are:
1. North America 2. Europe 3. Asia-Pacific 4. Rest of the World (RoW)
North America is expected to account for the largest share of the global market. This can be attributed to the increasing prevalence of HIV and Lyme disease in the U.S., rise in research funding and increasing production of genetically modified crops in the U.S., U.S.-China collaborative program for biomedical research, and HIV vaccine initiative in Canada.
Some key players mentioned in the research report are:
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 western blotting market worldwide.
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