The Western Blotting Market is Estimated To Witness High Growth Owing To Rising Adoption of Proteomics Research
The Western blotting market is estimated to be valued at US$ 759.5 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Western blotting, also known as protein immunoblotting, is a widely used analytical technique used to detect specific proteins in a sample of tissue homogenate or extract. It is primarily used to verify the presence of specific proteins in a given sample and also to determine their molecular mass. The technique involves separation of proteins by gel electrophoresis and transferring them onto a membrane and then probing the blotted proteins using specific antibodies looking for the target protein.
Market Dynamics:
One of the major drivers for the growth of Western blotting market is the rising prevalence of cancer & infectious diseases across the globe. According to WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Also, infectious diseases like HIV/AIDS, TB, hepatitis, etc continue to persist worldwide. Western blotting serves as a valuable technique for diagnosis and monitoring the progression of such diseases. Additionally, continuous improvements & new product launches by key players are also favoring the market growth. For instance, in 2021, Thermo Fisher Scientific launched westernONE western blotting kits that deliver high data quality and reproducibility to labs without the need for specialized technical expertise. The new kits incorporate novel design elements to streamline workflows and eliminate complexity.
SWOT Analysis
Strength: The western blotting market has gained significant traction over the past few years owing to its wide applications in biomedical research and diagnostics. Key strengths of western blotting include high specificity, wide targets identification range, and reproducibility. Advancements in western blotting techniques have improved its sensitivity, throughput, and quantification ability.
Weakness: Western blotting has certain limitations such as being time-consuming and labor-intensive. It requires a large amount of biological samples and antibodies. Improper handling and preparation of samples can lead to erroneous results.
Opportunity: Growing proteomics research and increasing R&D investments in biopharmaceutical and biotechnology industries offer lucrative opportunities. Developments in recombinant antibody technologies and automated western blotting systems help overcome challenges and expand applications. Growing focus on personalized medicine also presents opportunities.
Threats: High capital investments and maintenance costs of western blotting instruments pose financial challenges. Stringent regulatory approval processes for clinical diagnostics pose delay threats. Substitutes like ELISA also threaten the western blotting market.
Key Takeaways
The Global Western Blotting Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing research activities and clinical diagnostic applications for disease detection.
Market size: The western blotting market size was valued at US$ 759.5 Mn in 2023 and is projected to reach over US$ 1,327.2 Mn by 2030.
Regional analysis: North America dominates the market currently owing to extensive R&D funding and presence of key market players in the region. Asia Pacific is expected to witness fastest growth during the forecast period driven by rising proteomics research and growing biotechnology industry in China, India, and Japan.
Key players: Key players operating in the western blotting market are Thermo Fisher Scientific, Inc., GE HealthCare, F. Hoffmann-La Roche Ltd, Lumigen, Inc., Merck KGaA, Bio-Rad Laboratories, Inc., LI-COR, Inc., Bio-Techne SBH Sciences, Advansta Inc., Azure Biosystems Inc., HiMedia Laboratories., Elabscience Biotechnology Inc., GenScript, Cell Signaling Technology, Inc., ICL, Inc., Takara Bio Inc., and Leinco Technologies.