Western blot, popularly termed as protein blot, is a widely used technique in proteomics. It enables researchers to study the structure and functions of the underlying proteins, precisely to identify the exact amino acid sequences in proteins. Understanding of cell signaling molecules is one of the many advantages that the western blotting technique offers. Growing investments by government and private research organisations in proteomics and other protein-related studies will remain a key factor bolstering the demand for western blotting in the near future. In terms of revenues, the molecular diagnostics field will continue to contribute a major share to the global western blotting market.
Future Market Insights examines the global western blotting market for a five-year forecast period 2016-2021. FMI indicates that the market will see steady growth over the aforementioned period. The revenues are expected to reach US$ 551.0 Mn by the end of 2016 and the market may expand at a CAGR of 5.4% during 2016-2021.
Flourishing Protein Research Landscape Underpins Demand for Western Blot
Protein research dynamics will remain a key factor positively influencing the market for western blotting. Growing prevalence of AIDS worldwide is expected to hold a major influence on the western blotting market growth on a global level. Amplifying investments by several leading biotechnology and pharmaceutical companies in proteomics R&D is a key factor primarily driving the market for western blotting technique.
Technological Advances and M&A Favour Market Growth
In addition, surging M&A activities among leading companies is also anticipated to flavor the market. The recent past has seen emergence of several advances in the western blotting technique, including automated western blotting and imaging. Moreover, advanced imaging software has also been introduced. These factors will continue to accelerate the market growth during the forecast period.
Personalised Medicine Trend Spurs Demand for Proteomics
With a growing trend of customised medicines, the collaborations between research institutions and pharmaceutical as well as biotechnology companies are also on the rise. This will escalate the demand for proteomics and in turn will push the market for western blotting.
However, availability of some alternative techniques to western blot may remain a long-term challenge to mass adoption of the technique. Moreover, high-efficiency procedural requirement and strict regulatory measures may also pose a restraint to the western blotting market growth.
Electrophoresis Blotting Systems Segment Witnesses Highest CAGR
By product, the global market for western blotting is segmented into electrophoresis blotting systems, reagents kits, and transfer membranes. The reagents kits segment is expected to retain dominance over the forecast period; however FMI indicates a declining growth rate for this segment post-2016. This segment will account for nearly US$ 426.4 Mn by 2021 end, capturing over 58% share of the market. It is further segmented into chromogenic, chemiluminescent, antibodies, fluorescent, and buffer. The electrophoresis blotting systems segment is likely to exhibit substantial growth at a CAGR of 7.4%, reaching a value of around US$ 222.9 Mn by 2021 end. This segment is further classified as automated dry systems, semi-dry systems, and traditional wet transfer systems. On the basis of application, the market is fragmented into scientific research, medical diagnostics, agriculture, food and beverages, and others.
Burgeoning Proteomics Research Drive the Demand from Pharmaceutical and Biotechnology Companies
Based on end-use, the market is segmented into diagnostic laboratories, research institutions, and pharmaceutical and biotech companies. Among these, pharmaceutical and biotech companies segment will continue to lead with the maximum revenue share by 2021 end. However, research institutions segment is expected to thrive at a higher CAGR during the forecast period, followed by diagnostic laboratories segment with the least market share. These two segments are likely to observe swelling adoption of western blotting in near future.
Bio-clustres in China and India Drive the Fastest Market Growth in Asia Pacific
By geographical analysis, the global western blotting market is segmented into five key regional markets. North America is projected to continue dominance in 2016 through to 2021, primarily attributed to rising incidences of AIDS and Lyme disease, increased GMO crops production, and promising clinical research efforts. This region is also witnessing soaring research funds, in addition to an initiative for HIV vaccine development. While these factors are likely to drive the western blotting market in North America, the revenues of this region may reach US$ 253.8 Mn by 2021 end, accounting for over 35% share of the entire market value in 2021. APAC, led by China, India, and Japan, is predicted to witness the fastest growth over the forecast period, reportedly due to the presence of bio-clustres in China and India, coupled with favourable government initiatives. This region will expand at a CAGR of 6.2%, accounting for over 23% market share in 2021.
New Product Development Is the Key Strategy of Leading Players
Some of the most prominent players operating the global western blotting marketplace, include GE Healthcare, Thermo Fisher Scientific, Merck Millipore, and Bio-Rad Laboratories. Other notable companies participating in the competitive landscape are Hoffmann-La Roche Ltd., PerkinElmer Inc., LI-COR, Inc., EMD Millipore Corporation, Danaher Corporation (Lumigen, Inc.), Advansta, Inc., and Bio-Techne Corporation (ProteinSimple Inc.).
Although the marketplace is intensely competitive with a large number of internationally recognised players and many small-sized companies, leading players are increasingly investing in R&D, enhanced product portfolios, and advanced marketing strategies. In order to stand out from the lot with similar product offerings, companies are focusing more on joint ventures, collaborations, operational expansion, and M&A.
In this report, Future Market Insights (FMI) offers a five-year forecast of the global western blotting market between 2016 and 2021. The current study reveals the market trends and market dynamics in all seven regions that are expected to positively affect the current market environment and future scenario of the global western blotting market during the forecast period.
Global Western Blotting Market: Report Description
The global western blotting market report begins with an executive summary and defining various categories and their usage in the market. It is followed by market dynamics overview of the global western blotting market, which includes FMI analysis of market trends, drivers, restraints, and opportunities that are likely to impact growth of the global western blotting market.
Global Western Blotting Market: Segmentation
This section of the report segments the global western blotting market on the basis of type, end-use, and region. The next section of the report highlights the adoption of western blotting technique across the globe, and provides the market outlook for 2016 to 2021. The study investigates the expected absolute dollar opportunity generated by each country. The regions assessed in this report include North America, Latin America, Europe, APAC, and MEA.
In the final section of the report on global western blotting market, the ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution in total global western blotting market. Furthermore, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the PUFAs marketplace.
Detailed profiles of key companies are also included in the report to evaluate their long– and short–term strategies, their key product offerings, competitive advantages, and recent developments in the global market. Some of the leading companies profiled in this report are GE Healthcare, Thermo Fisher Scientific, Merck Millipore, Bio-Rad Laboratories, Hoffmann-La Roche Ltd., PerkinElmer Inc., LI-COR, Inc., EMD Millipore Corporation, Danaher Corporation (Lumigen, Inc.), Advansta, Inc., and Bio-Techne Corporation (ProteinSimple Inc.).
To ascertain the global western blotting market size, we have taken into account the revenue generated by the various key companies. The forecast presented here assesses the total revenue generated by value, across the global western blotting market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the global western blotting market is expected to develop in the near future.
In addition, we have conducted forecast not only in terms of CAGR, but also analysed the market based on key parameters such as year-over-year (Y-o-Y) growth rates to understand the predictability of the global western blotting market and to identify the right opportunities across the market. The global western blotting market segments, by product type and end-user have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the global western blotting market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This has been overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the western blotting market. The overall absolute dollar opportunity along with the segmental split is also mentioned in the report.