The western blotting market accounted to US$ 638.82 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 992.55 Mn by 2027.
The western blotting market accounted to US$ 638.82 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 992.55 Mn by 2027.
Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. The market in the Asia Pacific is driven by the key factors such as rise in biotechnologies industry across the nations such as China, Japan, India and South Korea. The increasing investments in the sector is likely to encourage the growth of the market during the forecast period. In addition, the market is also expected to grow due to support of government that have initiated programs to increasing the professionals. The collaboration of the countries such China and Japan with the foreign entities are expected to grow the market during the forecast period.
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Key Findings from The western blotting Market
The global western blotting market by application segments was led by biomedical & biochemical research segment. In 2018, the biomedical & biochemical research held a largest market share of 38.58% of the western blotting market, by application. However, the others segment is expected to grow at the fastest growth rate during the forecast period, 2019 to 2027.
Organic and inorganic growth strategies were observed among which organic strategy was the most adopted strategy in global western blotting industry. For instance, in June, 2019. Thermo Fisher Scientific Inc. launched iBright 1500 Imaging System Series that includes two models, the Invitrogen iBright FL1500 imaging system and the Invitrogen iBright CL1500 imaging system for life science researchers. Thus, various product launch in the market are likely to influence the market growth during forecast period.
The major players operating in the western blotting market include, Thermo Fisher Scientific Inc., Merck KGaA, GENERAL ELECTRIC, Cell Signaling Technology, Inc., PerkinElmer, Inc., Bio-Rad Laboratories, Inc., LI-COR, Inc., OriGene Technologies, Inc., Rockland Immunochemicals Inc., and Abcam plc among the others.
The companies are involved in various growth strategies that are enabling the growth of the market as well as for the company. For instance, in June, 2019, Thermo Fisher Scientific Inc. launched iBright 1500 Imaging System Series that includes two models, the Invitrogen iBright FL1500 imaging system and the Invitrogen iBright CL1500 imaging system for life science researchers.
Rising Prevalence of Lyme and HIV
Western blot delivers both confirmatory results in the field of research and diagnostic testing. Lyme is the tick-borne disease in the region of North America. According to study published in 2018, by Carnegie Mellon University sates that Lyme disease is expected to rise in United States. Reason for rise in Lyme disease is the climate change. Various studies have shown western blot IgM has 94-96% of specificity towards the patient with clinical symptom of Lyme disease. Western blot is used in the confirmatory test for HIV followed by ELISA test. Western blot was specifically gold standard for the diagnosis of HIV-1 infection. According to data published on the site of HIV.gov in 2016, approximately 38,700 people were newly infected by HIV. Therefore, owing to the above mentioned factors it is expected that the market is likely to grow during the forecast period.
Automation in Western Blot Technique
Western blot is the major analytical tool to assess the molecular function in basic cell biology research, drug discovery and pathology. There have been significant improvement in the technical aspect of western blot which has led to improvement in efficiency, reproducibility, ease of use. For example, iBind Western Systems launched by ThermoFisher Scientific Corporation which is and automated western blot device which does not require continuous monitoring. Further the turnaround time is reduced compared to traditional method where it involves the various steps and four hours for final results. In iBind all the solution is required to be loaded rest all process is automated by sequential lateral flow technology (SLF) which does not require any electricity or batteries. The significant advantage provided by automated western blot system will contribute in the growth of the western blot market.
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