Global Western Blotting Market to Raise at a CAGR of 5.9% over the Forecast Period
Posted: Apr 12, 2018
The rising incidence of HIV, growing applications of western blotting technique in the field of proteomics and the growing expenditure on research and development by various pharmaceutical and biotechnology companies are some of the major factors stimulating the growth of the global western blotting market during the forecast period, 2017-2021. These are some of the findings of the latest comprehensive report which has been released by Persistence Market Research titled as ‘Western Blotting Market: Global Industry Analysis and Forecast 2017-2021’. This report explores the market dynamics affecting the expansion of the global western blotting market in the form of drivers, restraints, opportunities and trends, which are comprehensively studied in this latest report. As per the forecast, the global western blotting market was valued at US$ 576.4 Mn in 2017 end and is slated to reach a valuation of US$ 725 Mn in 2021 end, reflecting a CAGR of 5.9% during the period of forecast 2017-2021.
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Global Western Blotting Market: Market Dynamics
According to the data provided by UNAIDS, there were approximately 36.7 million people across the global living with HIV/AIDS. Western blot testing method is preferred in detection on HIV as it is greatly accurate in finding HIV antibodies in the blood of patients as compared with other testing techniques like ELISA. The diagnosis of HIV is dependent on the detection of the HIV antibody in blood, by the incorporation of HIV antigens. This kind of antigen-antibody assay is helpful in window period of HIV. Hence, western blotting testing technique is preferred in the detection of anti-HIV antibody in blood serum sample. In addition, there is an increasing amount of investments in R&D sector in the western blotting market for system automation, antibodies, regent kits and buffers. Such kind of investments are likely to boost the growth of the global western blotting market. However, the emergence of alternative techniques like the alpha technique, which is much simpler than the western blotting technique may restrain the growth of the global western blotting market.
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Global Western Blotting Market: Segmentation and Forecast
The global western blotting market is segmented on the basis of product, end-use, application and region.
On the basis of product, the reagent kits dominated the market. The reagent kits segment was valued at US$ 350.5 Mn in 2017 end. The transfer membranes segment was valued at US$ 62.3 Mn in 2017 end. Innovative reagents are being used for clear visibility and imaging and to reduce the duration of test process are some of the key factors boosting the growth of the reagents kits segment in the western blotting market.
On the basis of application, the scientific research segment was valued at US$ 215.7 Mn in 2017 end. The food and beverage segment was valued at US$ 60.9 Mn in 2017 end. Scientific research segment is projected to reach US$ 277.0 Mn by 2021, creating a total incremental opportunity of US$ 88.3 Mn over the forecast period.
On the basis of end-use, the diagnostic laboratories segment was valued at US$ 145.7 Mn in 2017 end. Need for continuous monitoring of patients suffering from HIV is expected to fuel demand for western blotting tests over the forecast period.
On the basis of region, the Asia Pacific western blotting market was valued at US$ 129.2 Mn in 2017 end. There is a high potential for the growth of western blotting market in the region of Asia Pacific.
Global Western Blotting Market: Competition Landscape
This report also profiles some of the key companies that are functioning in the global western blotting market. Some of the companies that have been profiled in the competition landscape section of this report include Thermo Fisher Scientific, Inc., GE Healthcare, Hoffmann-La Roche Ltd., Danaher Corporation (Lumigen, Inc.) and EMD Millipore Corporation.
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