The Europe western blotting market is expected to reach US$ 295.78 Mn in 2027 from US$ 196.84 Mn in 2018
NEW YORK, Oct. 22, 2019 /PRNewswire/ -- The Europe western blotting market is expected to reach US$ 295.78 Mn in 2027 from US$ 196.84 Mn in 2018. The market is estimated to grow with a CAGR of 4.8% from 2019-2027.
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The growth of the western blotting market is primarily attributed to the increasing innovative technologies in the region.However, nonexistence of skilled professionals is likely to pose a negative impact on the market growth.
On the other hand, increasing application in drug discovery is likely to have a positive impact on the growth of the Europe western blotting market in the coming years.
The informatics experts and biologists using newer sequencing technologies by aiming at making better genomes.The improving software technologies for piecing DNA together and increasing novel techniques for locating sequences on chromosomes have risen in recent years.
For the adoption of newer technologies with improved tools and methods, several programs established.For instance, in 1989, the Genome Sequencing Program of the National Human Genome Research Institute (NHGRI) was established to address current scientific opportunities for Genomics.
Moreover, the program supports to develop novel technologies with improved method and instruments that allow low-cost rapid determination of DNA sequence, functional genomics experiments, and SNP genotyping.The program also supports the technology transfer from developers to the users and helps in promoting collaborative multidisciplinary programs that closely incorporate at industrial and academic laboratories.
Moreover, many industry players have come up with innovative NGS technology in the last few years. For instance, Pacific Biosciences with Sequel, and Oxford Nanopore with PromethION. Additionally, three advances NSG systems that dominate the market include Roche GS FLX (454), Illumina HiSeq 2000 (Solexa) and AB SOLiD (Agencourt). Advancement in genome sequencing has upsurge the demand for western blot. Thus, these technological advancements are likely to grow the market shortly and help to increase the market for western blotting.
In 2018, the consumables segment held a largest market share of the western blotting market, by product.The consumables segment is also expected to dominate its market share in 2027 as the consumables are widely used for several times.
The rising number of research and developments and clinical activities are likely to grow market. The segment is also anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.
In 2018, the biomedical & biochemical research held a largest market share of the western blotting market, by application.This segment is also expected to dominate the market in 2027 owing to the increasing research and development activities and also the development in the biotechnology tools.
However, the others segment is expected to grow at the fastest growth rate during the forecast period, 2019 to 2027.
In 2018, the academic and research institutes held a largest market share of the western blotting market, by end user.This segment is also expected to dominate the market in 2027 owing to the increase in the number of biotechnology institutes across the world.
However, the pharmaceutical and biotechnological companies segment is expected to grow at faster rate owing to rising drug development activities and increasing biopharmaceutical industry. The pharmaceutical and biotechnological companies segment is expected to grow at the fastest growth rate during the forecast period, 2019 to 2027.
Some of the major primary and secondary sources for western blotting included in the report are, Centers for Disease Control and Prevention (CDC), Canadian Institutes of Health Research (CIHR), Environmental Protection Agency (EPA), Food Quality Protection Act (FQPA), Genetically Modified Crops And Organisms (GMOs), The National Institute of Industrial Property (INPI), National Institute of Health and Medical Research (INSERM) and others.
Read the full report: https://www.reportlinker.com/p05815403/?utm_source=PRN
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