Western blotting market adds the key segment to the molecular diagnostics market in terms of revenue. Molecular diagnostics comprises of numerous analytical methods employed in the field of proteomics and genomics.
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The western blotting market is categories on the basis of application, product, region and end user. Comprehensive application of western blotting technique in several fields such as medical diagnostics, scientific research, agricultural, food & beverages industry and other applications is stimulating the development of the western blotting market internationally.
Based on product, the market is divided into reagent kits, electrophoresis blotting systems, and transfer membrane. Reagent kits account for bulk market share at present and are likely to remain the top in terms of volume and value throughout the projection period. Transfer membranes, on the other hand, is expected to increase by way of value and volume, but comparatively at a slower pace. Whereas electrophoresis blotting systems segment is likely to register greater CAGR in terms of value and volume in the forecast period.
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By end user, the market is segmented into research institutes & pharmaceuticals, diagnostics laboratories and biotechnology companies. Pharmaceuticals and biotechnology companies segment ruled the market in 2014. On the other hand, research institutions segment is projected to list an increased CAGR mostly owing to incessant research work in the field of proteomics. Diagnostics laboratories segment accounted for least share in the market in terms of revenue and volume in 2014, and the trend is projected to carry on till 2021.
Usage of the western blotting technique is expected to expand in the diagnostics laboratories and research institutions segments by the end of 2021. The market was projected to be appreciated at $ 529.1 Mn by 2015 end and is expected to increase at a CAGR of 5.4% through the forecast period to account for $ 725.0 Mn by 2021 end.
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Based on region North America is likely to dominate the market with above 30% share and is expected to remain the same through the forecast period followed by Asia and Latin America where the expansion of CAGRs of 6.2% and 6.0% respectively is estimated during the forecast period.
The major players covered are PerkinElmer Inc., LI-COR, Thermo Fisher Scientific, Inc., GE Healthcare, Hoffmann-La Roche Ltd., Danaher Corporation (Lumigen, Inc.), EMD Millipore Corporation, Bio-Rad Laboratories, Inc., Inc., Bio-Techne Corporation (ProteinSimple Inc.), and Advansta, Inc.