Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), GE Healthcare (U.S.), Advansta, Inc. (U.S.), LI-COR Biosciences (U.S.), PerkinElmer, Inc. (U.S.), Bio-Techne Corporation (U.S.), Merck KGaA (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), and Cell Signaling Technology, Inc. (U.S.) are some of the key players in the market worldwide.
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On the basis of region, this market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. The U.S. is the largest market in North America, owing to the increasing prevalence of HIV and Lyme disease, U.S.- China collaborative program for biomedical research, rise in research funding and increasing production of genetically modified crops, and rising number of conferences. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing government interest in biomedical & biotechnology industry in China, presence of bioclusters in China and India, government initiatives supported by funding in Japan, growing pharmaceutical industry in India backed by government initiatives, Korea-U.S. Free Trade Agreement (KORUS), and growing prevalence of HSV in south east Asia.
The western blotting market is expected to be dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the highest rate during the forecast period.
The western blotting market is expected to reach USD 730.7 Million in 2021 from USD 574.8 Million in 2016, growing at a CAGR of 4.9%. Increasing number of research activities and R&D spending by pharmaceutical and biotechnology companies, rising prevalence of HIV/AIDS, growing proteomics market, growing number of industry-academic research collaborations, increasing demand for personalized medicine, and new product launches are expected to drive the growth of the market in the coming years.