The North America western blotting market is expected to reach US$ 404.96 Mn in 2027 from US$ 257.05 Mn in 2018
Oct 21, 2019, 14:00 ET
NEW YORK, Oct. 21, 2019 /PRNewswire/ --
The North America western blotting market is expected to reach US$ 404.96 Mn in 2027 from US$ 257.05 Mn in 2018. The market is estimated to grow with a CAGR of 5.4% from 2019-2027.
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The growth of the western blotting market is primarily attributed to the Investments in proteomic research and rising prevalence of Lyme and HIV.However, alternative technologies for protein detection is likely to pose a negative impact on the market growth.
On the other hand, automation in western blot technique is likely to have a positive impact on the growth of the North America western blotting market in the coming years.
Western blot is a widely used technique in the study of Proteomics.Proteomics is used to study how proteins are expressing in the biological systems.
The study also includes the study of protein degradation, protein modification process, number of protein produced in time, transfer of protein between cellular compartment, an association of proteins in metabolic pathways and also in the protein interaction with one another.Proteomic research helps pharmaceutical companies in drug discovery research.
In Canada, an organization named Genome Canada, which is funded by the Government of Canada develops genomics+ and genomic-based technologies to create social and economic benefits for Canadians. Recently in July 2019, the organization invested $41.2 million in federal funding to support 19 research projects. The investment will support essential research collaborations in genomics research. Moreover, the UVic-Genome BC Proteomics Centre the most advanced proteomics research facility in Canada used by government, academic, and industry researchers from across the globe. The centre is funded by Genome BC and the Canadian government that serves as a national facility for large-scale research projects. Proteomics research is now a pan-Canadian effort that allows researchers to work with clinicians to deliver developed diagnostic techniques, understand the complex disease, and support the development of new treatments, after the BC partnership. Thus, owing to the factors mentioned above, the market for western blotting is anticipated to drive in the forecast period.
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/p05815420/?utm_source=PRN
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