New York, Nov. 16, 2015 (GLOBE NEWSWIRE) -- According to the latest market report published by Persistence Market Research titled "Global Market Study on Western Blotting: Increasing Prevalence of HIV and Spontaneous Research in the Field of Proteomics Fuelling the Growth of Western Blotting", the western blotting market is expected to be valued at US$ 529.1 Mn by the end of 2015. It is anticipated to expand at a CAGR of 5.4% during the forecast period (2015-2021) to account for US$ 725.0 Mn by 2021.
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Western blotting technique is considered the gold standard for the diagnosis of HIV. Western blotting, due to its high specificity and reproducibility, is used as a confirmatory test for the diagnosis of HIV. According to the World Health Organization (WHO), it is estimated that in 2013, only 51% of the people with HIV knew about their syndrome status. A major reason for low diagnosis of HIV is the fear amongst the population of getting positively diagnosed with HIV and confidentiality issues related to testing results. As per the statistics released by the joint United Nations program on HIV/AIDS, in 2013, around 35.2 Mn HIV cases were recorded with two million new cases being detected in 2014, taking the combined total for both years to 37.2 Mn. Wide application of western blotting technique in various fields such as scientific research, medical diagnostics, food & beverages industry, agricultural, and other applications is fueling the growth of the western blotting market globally.
The growth of the western blotting market is mainly driven by rising incidence of HIV, increasing usage of western blotting in the field of proteomics, and rising demand for advancements and innovation in drug development. However, factors such as inadequate funding in developing countries, high pricing of products, and non-availability of devices in developing countries are expected to hamper overall market growth.
The western blotting market is segmented on the basis of product, application, region, and end user. North America dominated the western blotting market with over 30% share and is expected to remain dominant throughout the forecast period. Revenue from western blotting markets in Asia and Latin America are expected to expand at CAGRs of 6.2% and 6.0% respectively during the forecast period.
In terms of volume growth, reagent kits segment is expected to account for maximum share over the forecast period. Electrophoresis blotting systems segment is expected to register higher CAGR as compared to other segments in terms of volume.
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As western blotting is a time consuming and labor intensive process, end users are opting for automated blotting systems to address these issues. The manual technique demands continuous supervision, hence manpower is mandatory while performing this method to enhance reproducibility. Automated systems perform steps such as mixing of the solution, washing of gel, and hence reduces the time required for completion of the protocol. However, the debate regarding the trustworthiness of this technique continues across the healthcare sector, as the outcomes of tests vary according to the methodology adopted to complete the process. Selection of proper substrate and antibody is a must to achieve desired results due to the specificity of the test.
Key market players covered in this report include Thermo Fisher Scientific, Inc., GE Healthcare, Hoffmann-La Roche Ltd., Danaher Corporation (Lumigen, Inc.), EMD Millipore Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., LI-COR, Inc., Bio-Techne Corporation (ProteinSimple Inc.), and Advansta, Inc. These players have been profiled on the basis of various attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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The western blotting market is segmented as follows:
o Electrophoresis Blotting Systems
- Automated Dry Blotting Systems
- Semi-dry Blotting Systems
- Traditional Wet Transfer Blotting Systems
o Reagent Kits
- Chromogenic Kits
- Chemiluminescent Kits
- Horseradish Peroxidase Substrate
- Alkaline Phosphatase Substrate
- Fluorescent Kits
- Primary Antibodies
- Secondary Antibodies
- Buffer Kits
o Transfer Membrane
o Scientific Research
o Medical Diagnostics
o Agricultural Application
o Food & Beverages Industry
o Other Application
By End User:
o Diagnostics Laboratories
o Research Institutions
o Pharmaceuticals and Biotechnology Companies
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o North America
o Latin America
- Rest of Latin America
- Rest of Europe
- Rest of Asia
o The Middle East & Africa
- South Africa
- Rest of MEA
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Source:Persistence Market Research