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 test in cell and molecular biology. The test helps to detect the specific type of protein from the complex mixture of proteins that are extracted from the cell. This test has gained attraction in the market due to its specificity, low cost, and ease of use. Western blot test has a wide range of applications in medical diagnostics, such as the diagnosis of diseases such as BSE (Bovine Spongiform Encephalopathy), FIV (Feline Immunodeficiency Virus), HBV (Hepatitis B Virus) infection, and Lyme Disease, among others. Generally, this test is used as a confirmatory test for the above-mentioned diseases after the ELISA test is done with a positive result. For instance, in July 2021, for Lyme Disease, the US FDA suggested that the two-tier protocol use an ELISA test initially and then the specific western blot test for the confirmation of diagnosis if the results of the ELISA are positive. Hence, these factors will have a positive impact on the target market over the studied period.
Previously, western blotting was commonly done to confirm the HIV diagnosis. However, the Centre for Disease Control and Prevention (CDC) in the year has recommended discontinuing the Western blot test for HIV as there are novel techniques that came up in the market for HIV detection. Furthermore, studies have suggested that western blot is a priority test for the diagnosis of diseases such as BSE (Bovine Spongiform Encephalopathy) and FIV (Feline Immunodeficiency Virus). Therefore, due to the above-mentioned factors, it is projected that the target segment will witness a high CAGR during the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
The North American region is anticipated to have a significant market share owing to a large number of R&D activities, huge 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. According to the American Cancer Society's 2022 annual report, it was observed that there were an estimated 1.9 million new cancer cases in the United States during 2022. Hence, such a factor will positively influence the target market growth in the forecast period.
Research and development budgets of pharmaceutical companies have also increased in the last few years, owing to the increasing focus on regulating markets, complex molecules, and therapy segments. In the United States, pharmaceutical companies spend more money, time, and energy on R&D than others. According to the 2021 PhRMA Annual Membership Survey, the total amount spent on research and development by its member companies reached USD 91 billion. Therefore, the rise in R&D activities in the region is expected to increase the demand for transfer membranes, which, in turn, is expected to aid the growth of the market studied in the region over the forecast period.
