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.
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). 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.
The global market, based on the application is segmented into biomedical & biochemical research, disease diagnostics, agriculture, disease diagnostics, biologics, and quality control, among others. 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.
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Based on the end user, the western blotting market is segmented into academic & research institutes, diagnostic centers, pharmaceutical & research laboratories, diagnostic centers, forensic laboratories, and contract research organizations (CROs), among others. In 2016, the academic & research institutes segment is expected to command the largest share of the global market, by end user. However, the pharmaceutical & biotechnology companies segment is projected to grow at the highest CAGR from 2016 to 2021.
Region Covered in Western Blotting Market :
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.
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Key Players in Western Blotting Market :
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.