Jan 21, 2021 (AmericaNewsHour) -- REPORT HIGHLIGHT
The western blotting market was valued at USD 650.8 million by 2017, growing with 7.8% CAGR during the forecast period, 2018-2025
Western Blotting method is a scientific procedure that is used to identify protein sequences and complexes. It is used in the fields of molecular biology and immunogenetics due to its link with protein complexes in cell biology.
Based on statistics presented by the United Nations Programme on HIV and AIDS (UNAIDS), 6.9 million people globally were living with HIV in the year 2017. Another stats by the UNAIDS stated that1.8 million [1.4 million-2.4 million] people were newly infected with HIV in 2017. The western blotting method is useful in the detection of AIDS since it has proven to have a higher accuracy rate over ELISA (Enzyme-linked immune sorbent assay). Besides AIDS, other immune-associated diseases such as Lyme diseases and others can also be detected with higher precision using this technique. Thus, increasing incidences of these diseases would in turn surge in demand, driving the industry growth.
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The product segment is broadly categorized into consumables and instruments. The consumables category consists of kits, reagents and others. Consumables dominate in terms of revenue generation. This can be attributed to an increase in detection of diseases and increase in the incidence of these diseases. The instruments segment consists of Gel electrophoresis equipment, imagers and blotting procedures. In terms of growth rate, the instruments have a swifter growth curve. Due to its use in the detection of the chronic diseases, and an increased number of detection kits, thus an increased demand for instruments. One of the biggest restraints in this industry is the emergence of alpha technology, a high throughput screening technology. This method is likely to supersede the western blotting method owing to its associated advantages. It doesn't involve various stages of processing like the western blotting does and yet detects the molecules effectively. If technologies such as these crop up, it could threaten the market significantly.
In terms of the application, the industry is divided into biomedical research, disease diagnostics, agriculture, and others. Based on the revenues generated, biomedical research dominated the worldwide industry. The government funding for this research has drastically improved, thus supporting the growth of this sector. Since this method is used for a wide variety of disease detection like Lyme's, and HIV, the scope of this particular category is expected to grow significantly in future.
North America is the major revenue generator compared to the other regions. This can be attributed to the growing use of genetically modified crops in the U.S. coupled with the increase in R&D spending for molecular biology field. One of the regions with growing demand of this technology is the Asia Pacific is the strong growth of biotechnology industry in Japan and China.
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Key Vendor Takeaway
Some of the key players of the industry comprise Thermo Fisher Scientific; Merck; Bio-Rad Laboratories; Bio-Techne Corporation; F. Hoffmann-La Roche Ltd., GE Healthcare; PerkinElmer, Inc.; Advansta, Inc.; and Cell Signaling Technology. Thermo Fischer is one of the leaders in this market owing to the strong research and development activities and cost-effective products. The company offers products such as Protein Gel Welcome Packs, iBright Imaging Systems, SuperSignal Chemiluminescent Substrates, and iBlot 2 Dry Blotting System under this category.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2014 & 2016
Base Year - 2017
Estimated Year - 2018
Projected Year - 2025
Traders, Distributors, and Suppliers
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT