In the coming years, the western blotting market is expected to witness the highest growth in the Asia-Pacific region. This can be attributed to increasing government interest in biomedical & biotechnology industry in China, government initiatives supported by funding in Japan, growing funding for agriculture research in India, increasing diagnosis and related funding in Australia, and growing prevalence of herpes simplex virus (HSV) in southeast Asia.
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According to research report 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).
New product launches was the major growth strategy adopted by players in the western blotting market. The western blotting market is dominated by Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and GE Healthcare (U.S.).
These players jointly accounted for approximately 80% of the market in 2016. Other players having significant presence in this market include Advasta, 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.).).
Bio-Rad Laboratories, Inc. is the leading player in the western blotting market. The company is a leading manufacturer and supplier of products and systems to separate, detect, analyze, and purify complex biological and chemical materials. The company serves the fields of life science research, healthcare, and analytical chemistry with its innovative products and services. The company’s leading position in the market can be attributed to its wide customer base.
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North America is expected to account for the largest share of the global market. This can be attributed to the increasing prevalence of HIV and Lyme disease in the U.S., rise in research funding and increasing production of genetically modified crops in the U.S., U.S.-China collaborative program for biomedical research, and HIV vaccine initiative in Canada.
The report segments market based on product, application, end user, and region.
The western blotting market, by product is segmented into instruments and consumables. Consumables segment is expected to account for the largest share of the market, by product in 2016. This segment is also expected to grow at the highest CAGR during the forecast period.
The western blotting instruments are further classified into gel electrophoresis instruments, blotting systems, and imagers. The blotting systems segment is expected to account for the largest share of western blotting instruments market, by type in 2016. However, the imagers segment is expected to grow at the highest CAGR during the forecast period (2016-2021).