Western Blotting Market may Expand at a CAGR of 5.4% During 2016-2021
Surging incidences of AIDS will continue to affect sizeable populace worldwide. Being considered as the gold standard and confirmatory test for HIV diagnosis, western blotting will continue to gain demand. Moreover, a range of other applications in a number of verticals, such as life science research, diagnostics, agriculture, food and beverages, and others, will also fuel the demand for western blotting. In addition to hiking funds for proteomics research, technological advancements and innovations in the field of drug development are also likely to foster the demand for western blotting technique.
Promising introduction of automated western blotting and imaging is expected to fuel the market growth further. The personalised medicines development trend is proliferating, strengthening the market. Rising collaborations between leading pharmaceuticals companies and research institutions, as well as increasing M&A activities among key market players are expected to favour the growth of the global western blotting market.
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However, emerging economies will continue to face a challenge of insufficient funding for proteomics research, eventually hampering the western blotting market. Moreover, higher product prices and lower availability may also remain the long-term restraints to market growth. In addition to strict regulations and demand for high-efficiency procedures, widespread availability of alternative techniques will remain a major barrier to mass adoption.
By product, the reagents kits segment will remain dominant over electrophoresis blotting systems and transfer membranes. Reagent kits segment is likely to account for over 61% market share of the 2016 revenues; however, this segment may witness a slight decline post-2016. A higher growth rate will be registered by the electrophoresis blotting systems segment, which is projected to approach a value of US$ 153.5 Mn by 2016 end.
Based on application, the market is classified into five key segments viz. agriculture, medical diagnostics, food and beverages, scientific research, and others. By end-use, pharmaceutical and biotech companies segment will retain dominance, whereas research institutions segment is expected to witness a higher growth rate, followed by diagnostic laboratories segment.
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On the basis of region, North America will remain the leading market with over 34% market value share in 2016. Asia Pacific is anticipated to remain the most lucrative market with over US$ 122 Mn revenues by 2016 end. This growth will be primarily driven by the prominence of bio-clustres present in developing Asian countries, including China and India. Compared to North America’s Y-o-Y growth of 4.8%, APAC is expected to exhibit a higher Y-o-Y of 5.2% in 2017 over 2016.
Some of the key players in the global western blotting market are Thermo Fisher Scientific, GE Healthcare, Bio-Rad Laboratories, and Merck Millipore. Other notable companies are PerkinElmer Inc., EMD Millipore Corporation, Hoffmann-La Roche Ltd., Advansta, Inc., and Bio-Techne Corporation (ProteinSimple Inc.), LI-COR, Inc., and Danaher Corporation (Lumigen, Inc.).
Long-term Outlook: Over 2016-2021, the global western blotting market is foreseen to expand at a CAGR of 5.4%.
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