Western blotting is a technique widely used in biochemistry, immunology and molecular biology for detection and quantification of specific proteins in complex protein lysate mixtures. Western blotting allows researchers to identify and quantify the expression of proteins in tissue homogenates or solutions containing whole cell extracts. The technique makes use of antibodies to detect target proteins in the biological samples loaded onto a gel. The antibodies can be visualized on the gel using chromogenic, chemiluminescent or fluorescent signaling methods. Western blotting is widely used in research and development applications for evaluation of protein biomarkers, analysis of protein-protein interactions and monitoring molecular pathways involved in diseases.
The global Western Blotting Market is estimated to be valued at US$ 759.05 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 Opportunity:
Increasing Adoption in R&D Applications
Western blotting is one of the most common techniques adopted by researchers for protein analysis and has emerged as an indispensable tool for protein research. Rising investments in healthcare research and drug discovery activities have fuelled the adoption of western blotting. Pharmaceutical and biotechnology companies are extensively utilizing western blotting technique in target validation, biomarker identification and development of personalized therapeutics. Furthermore, increasing exploration of disease pathways at molecular level has created significant opportunities for development of new diagnostics and therapeutics. Growing R&D expenditure in life sciences industry is expected to further augment the demand for western blotting equipment, consumables and services over the forecast period. Rapid expansion of global pharmaceutical research, driven predominantly by a growing disease burden, represents major market opportunity for western blotting market players.
Porter’s Analysis:
Threat of new entrants: The Western Blotting market requires high R&D investment and strict regulatory approvals which poses significant barriers for new companies.
Bargaining power of buyers: The bargaining power of buyers in the Western Blotting market is moderate as there are several established players offering a variety of products at different price points.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several raw material suppliers available to cater to the demand of manufacturers.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes available for the existing blotting technologies.
Competitive rivalry: The competition is intense with the presence of global as well as regional players.
SWOT Analysis:
Strengths: Wide applications across various industries such as biotechnology, academic institutes etc. Established distribution channels.
Weaknesses: Higher costs associated with Western Blotting products. Blotting techniques require considerable expertise to perform.
Opportunities: Growing proteomics research expected to drive the demand. Development of simple workflow kits.
Threats: Stringent regulations associated with clinical applications. Quality concerns with reagents may limit adoption.
Key Takeaways:
The global Western Blotting market is expected to witness high growth over the forecast period of 2023-2030. North America dominates the market currently owing to presence of majority of market players and high adoption of proteomic techniques for research in the region.
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., Leinco Technologies.
Regional analysis: North America is expected to continue dominating the global Western Blotting market over the forecast period. This can be attributed to factors such as presence of majority of market players, availability of advanced research infrastructure and high adoption of proteomics techniques across various application areas in the region. The Asia Pacific region is anticipated to witness fastest growth during the analysis period owing to improving healthcare infrastructure, rising expenditures on pharmaceutical and biotechnology research. Growth in academic research and expansion activities of key market players are also expected to support market growth in the Asia Pacific region.
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.
