(PharmaNewsWire.Com, May 31, 2020 ) According to the new market research report “Western Blotting Market by Product (Instruments, Consumables), Application (Biomedical & Biochemical Research, Disease Diagnostics), End User (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies) – Global Forecasts to 2021″, , published by MarketsandMarkets™,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).
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.
In the coming years, the market is expected to witness the highest growth in the Asia-Pacific region. This can be attributed to increasing government interest in biomedical & biotechnology industry in China, government initiatives supported by funding in Japan, growing funding for agriculture research in India, increasing diagnosis and related funding in Australia, and growing prevalence of herpes simplex virus (HSV) in southeast Asia.
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.
The report segments market based on product, application, end user, and region.
The western blotting market, by product is segmented into instruments and consumables. Consumables segment is expected to account for the largest share of the market, by product in 2016. This segment is also expected to grow at the highest CAGR during the forecast period. The western blotting instruments are further classified into gel electrophoresis instruments, blotting systems, and imagers.
Geographically, western blotting 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.
The major players in the western blotting market 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 market worldwide.
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