According to the latest report published by Credence Research, Inc. “Western Blotting Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global western blotting market was valued at US$ 548.9 Mn in 2016, and is expected to reach US$ 872.5 Mn by 2025, expanding at a CAGR of 5.1% from 2017 to 2025.
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Western blotting or protein immunoblot is used for quantification and detection of specific proteins based on molecular weight and size. Western blotting contributes significant share in the overall molecular diagnostics market as this technique is used in several analytical processes. Western blotting is also considered as a prime tool for HIV diagnostics due to its high specificity. The growth of global western blotting market is majorly attributed to factors such as growing biotechnology research, growing incidence of HIV/AIDS, and increasing R&D initiatives in the field of pharmaceuticals and biotechnology, and growing need for personalized medicine. Further proliferation of proteomics research and applications is also supporting the high demand for western blotting products.
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Based on the product types, the global western blotting market is classified into consumables (reagents and kits), instruments such as blotting systems (wet blotting instruments and semi-dry blotting instruments) and imagers (chemiluminescent imagers, fluorescent imagers and others). Among these, reagents and kits segments account for majority market share and will continue to dominate the market through the forecast period. Additionally, rapid adoption of imager systems will contribute to the fastest growth rate of this segment.
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Based on applications, biomedical and biochemical research segment accounted for the largest revenue share in 2016. Rising number of R&D activities held by biotechnology and pharmaceutical companies and growing government funding for such research for rapid commercialization of breakthrough products are the key drivers of this segment. On the other hand, it is expected that disease diagnosis segment will witness the fastest growth during the forecast period. Significant growth in incidence of HIV/AIDS and rising prevalence of infectious diseases such as Hepatitis and Lyme diseases majorly support the growth of this segment.
Considering the usage areas, the global western blotting market is studied for research and academia, pharmaceuticals and biotech, disease diagnosis and others. Among these usage areas, pharmaceuticals and biotech is the largest segment in 2016. However, due to growing research and development activities, increasing hoard for rapid commercialization of novel techniques and growing government funding for research initiatives in will make research and academia the fastest progressing usage area segment in the overall western blotting market.
Geographically, North America is the largest revenue generating regional market for western blotting and will continue its dominance through the forecast period. Ample availability of funds for research work, high demand for personalized medicine, and domicile of major market players in the region makes North America the largest regional market for western blotting. On the other hand, rapid outsourcing of research activities, growing skills and awareness, and high incidence of infectious diseases will contribute to the highest growth rate of Asia Pacific market.
The global western blotting market is highly competitive in nature and is also characterized by the presence of several large and small-sized companies. Some of the major players observed in this market are Advansta, Inc., Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Cell Signaling Technology, F. Hoffmann-La Roche Ltd., GE Healthcare, LI-COR Biosciences, Merck KGaA, PerkinElmer, Inc., Sigma-Aldrich Co., Thermo Fisher Scientific, Inc. and Trinity Biotech plc.
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