The growing preferences for customized medicine and growing preference for a healthy lifestyle are the foremost aspects accountable for propelling the growth of the western blotting market. In addition, the introduction of improved diagnostic technologies and great awareness, and the increasing prevalence of diseases also heighten the market’s complete growth. The economic, speedy diagnostic treatment by the western blotting processors is projected to foster the complete demand for the product.
Aspects such as the growing global burden of chronic diseases, increasing research activities in the biotech and pharma segment, and augmented research & development investment by pharmaceutical and biotechnology businesses are propelling the western blotting market. Over the review duration, the global western blotting market is projected to augment owing to the increasing prevalence of HIV/AIDS. Based on the Joint United Nations Program on HIV/AIDS predicted that 37.9 million individuals around the globe were living with HIV at the end of 2018. Nonetheless, growing applications of the western blotting approaches are probable to propel the market growth.
According to the SPER market research, ‘Western Blotting Market Size, Share & Trends Analysis By Product, By Applications, By End Users, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states the Western Blotting Market to reach USD 1.6 billion by 2030 with a CAGR of 5.9%. The prevalence of HIV/AIDS around the globe, augment funding in the biomedical segment, and moving towards customized medicine, and technological innovations, are the growth aspects propelling aspects.
Augment in scientific & research activities has substantially fostered the requirement for western blotting products during the past years. With the augment in demand for several types of electrophoresis blotting systems likewise automated dry blotting systems, and semi-dry blotting systems, to name a few, producers are also emphasizing launching a broader variety of products.
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Although, the Western blot test is having a broad variety of applications in medical diagnostics. For the diagnosis of diseases such as BSE (Bovine Spongiform Encephalopathy), HBV (Hepatitis B Virus) infection, FIV (Feline Immunodeficiency Virus), and Lyme Disease among others. Commonly, this test is utilized as a confirmatory test for the above-cited diseases after the ELISA test is done with a positive result. For Lyme Disease, the United States Food and Drug Administration has proposed the two-tier protocol utilizing an ELISA test initially and then the precise western blot tests for the confirmation of diagnosis if the results of ELISA are positive. Previously, western blotting was commonly done to check the HIV diagnosis.
The growing prevalence of HIV, Lyme disease, and hepatitis are foremost fuelling aspects for the market growth. For instance, as per the 2021 update from Global HIV & AIDS statistics, 38+ million individuals around the globe were living with HIV in 2021. Moreover, more than 1 million individuals became newly infected with HIV in 2021. A greater prevalence of such diseases causes more diagnostic tests and thus fosters market growth.
Moreover, product launches and approvals are primarily implemented strategies by companies to enlarge their international footprints and product portfolios. The western blotting market players aim at the partnership strategy to enlarge their clientele, which, in turn, permits them to manage their brand name around the globe. The market is projected to flourish during the forthcoming years owing to the advancement of innovative products by market players.
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Sara Lopes, Business Consultant – USA
SPER Market Research