Market Trends of Transfer Membrane Industry
Western Blotting Segment Expected to have Lucrative Growth Over the Forecast Period
Western blotting is a widely known and used cell and molecular biology test. It helps to detect the specific type of protein from the complex mixture of proteins extracted from the cell. This test has gained popularity in the market due to its accuracy, low cost, and ease of use. Western blot testing has a wide range of applications in medical diagnostics, including the diagnosis of diseases such as Bovine Spongiform Encephalopathy (BSE), Feline Immunodeficiency Virus (FIV), Hepatitis B Virus (HBV) infection, and Lyme Disease. Generally, this test is used to confirm the diseases mentioned above after the ELISA test has a positive result.
In addition, rising partnerships in the market for validating antibodies through western blot testing are anticipated to increase the adoption of this application and thereby surge the market demand. For instance, in February 2023, Bio-Techne and Cell Signaling Technology (CST) partnered to validate simple western antibodies, streamlining the study of crucial molecular signaling pathways for researchers. This collaboration promises an augmented selection of Simple Western validated antibodies, catering to various targets and disciplines.
Therefore, the target segment is projected to grow during the forecast period, owing to the abovementioned factors, such as the increased adoption of western blot techniques.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
The North American region is anticipated to have a significant market share owing to many R&D activities, considerable investments in developing new drugs, and support from public and private organizations for research. Moreover, the growing prevalence of chronic diseases coupled with rising targeted diseases in the region is anticipated to boost regional growth. For instance, according to the American Cancer Society's 2022 annual report, there were an estimated 1.9 million new cancer cases in the United States during 2022. Hence, this factor will positively influence the target market's growth in the forecast period.
Pharmaceutical companies' research and development budgets have also increased in the last few years, owing to the increasing focus on regulating markets, complex molecules, and therapy segments. For instance, according to the 2024 PhRMA Annual Membership Survey, the total amount spent on research and development by its member companies reached USD 101 billion in 2022. Therefore, the high R&D investment activities in the region are expected to increase the demand for transfer membranes, which, in turn, will aid the growth of the market studied in the area over the forecast period.
Thus, owing to the rising burden on chronic diseases and the high R&D investments by the biopharmaceutical companies in the region, the market is anticipated to boost significantly over the forecast period.
