The rising investment in life sciences research is also driving the growth of the Western blotting market. The life sciences industry is investing heavily in research and development to develop new drugs and treatments for various diseases. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the biopharmaceutical industry invested $100.4 billion in research and development in 2020. Western blotting is a critical tool in life sciences research as it can be used to analyze proteins, identify biomarkers, and develop new drugs and treatments. Therefore, the rising investment in life sciences research is expected to drive the growth of the Western blotting market.
The increasing prevalence of chronic and infectious diseases is one of the major drivers of the Western Blotting Market. Chronic diseases such as cancer, cardiovascular diseases, and diabetes are on the rise, and they account for a significant proportion of global mortality. Infectious diseases such as COVID-19, HIV/AIDS, and hepatitis are also a significant global health burden. Western blotting is a valuable tool in the diagnosis and treatment of these diseases, and as the prevalence of these diseases increases, the demand for Western blotting is also expected to increase.
Another key factor hampering the market growth of the Western blotting market is the high cost of Western blotting. The cost of Western blotting includes the cost of antibodies, reagents, equipment, and labor. The high cost of Western blotting makes it unaffordable for small and medium-sized laboratories and academic research institutions, which may not have the necessary resources to invest in Western blotting. This has led to the development of alternative techniques such as enzyme-linked immunosorbent assays (ELISA) and immunohistochemistry, which are less expensive and more accessible.
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In the coming years, the 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.Major Growth Drivers:The growth of the overall market can be attributed to the increasing number of research activities and R spending by pharmaceutical and biotechnology companies, rising prevalence of HIV/AIDS, and growing proteomics market are key factors driving the demand for western blotting instruments and consumables, increasing demand for personalized medicine, and new product launches are some of the other factors driving the growth of this market.Expected Revenue Growth: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).Accessories to Fuel the Growth of Western Blotting Market :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.
