Increasing glycomics research, rising investment in drug discovery and development, and growing opportunities in biopharmaceutical sector are key factors driving market growth
New York, January 05, 2022 – The global glycomics/glycobiology market size is expected to reach USD 2.88 Billion by 2028 at a CAGR of 14.1%, according to the latest report by Reports and Data. Advancements in glycomics research, growing R&D investment by pharmaceutical and biotechnology companies, and rapid development of novel drugs and therapeutics are key factors expected to drive market revenue growth over the forecast period. Rising funding, grants, and financial support by governments to expand scope of glycomics research in academic and research institutes is also a key factor expected to drive revenue growth of the market over the forecast period. Growing need for novel and efficient therapeutics and drugs to cater to unmet medical demand across the globe has been boosting demand for advanced glycomics and glycobiology tools, and this is expected to further fuel revenue growth of the market over the forecast period.
Glycomics is a subset of glycobiology and is a comprehensive and systematic study of glycomes and glycan structures in any cells or organisms. Glycomics has vast array of applications in diagnostics, cancer research and therapeutics, drug discovery and development, and immunology, among others. Glycans play a pivotal role in innate immunity, cellular signaling pathways, in stability and folding of proteins, and modulation of cell functions. Extensive research in bacterial glycomics has led to the development novel drugs and glycoconjugate vaccines and this is expected to continue going ahead and drive market revenue growth over the forecast period.
Increasing application of glycobiology in cancer research owing to significant role of surface glycans in metastatic and neoplastic properties of tumor cells is expected to contribute to market growth over the forecast period. Growing use of glycans in drug discovery and development and in production of therapeutic monoclonal antibodies are key factors expected to drive market growth over the forecast period. However, high costs of instrument and complexity of glycomes are expected to restrain research activities and hamper market growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
- Enzymes segment is expected to account for a significant revenue share over the forecast period owing to rising application of enzymes in cancer research and diagnostics. Glycosidases among other enzymes is expected to contribute significantly to revenue growth of this segment owing to its increasing use in oncology research and therapeutic approaches for diseases caused by deficiencies.
- Drug discovery and development segment is expected to register rapid revenue CAGR over the forecast period owing to rising R&D activities in biopharmaceutical sector, growing demand for glycomics products in drug research, and increasing demand for precision medicine to treat chronic diseases.
- Academic and research institutes segment is expected to register robust revenue growth over the forecast period attributable to increasing glycomics research in academic institutes, growing application of glycomics in biomedical research, and rising number of collaborations between research institutes and pharmaceutical and biotechnology companies.
- North America market revenue is expected to expand significantly over the forecast period owing to increasing research activities in glycobiology, fast-paced drug research and development processes, and robust presence of key companies in the region.
- Key companies in the global market include Thermo Fisher Scientific, Inc. Merck KGaA, Agilent Technologies Bruker Corporation, New England Biolabs, Danaher, Shimadzu Corporation, Takara Bio, Inc., Asparia Glycomics S.L, and ProZyme.
- In December 2020, National Health & Medical Research Council (NHMRC) offered Griffith University’s Institute for Glycomics a grant of USD 2.66 Million under Ideas Grant Funding to support four crucial glycomics research studies. The grant will be used for developing vaccines against bacteria, viruses, and bacterial toxins.
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For the purpose of this report, Reports and Data has segmented the global glycomics/glycobiology market based on, product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Glycosidases & Neuramidases
- Glycosyltransferases & Sialytransferases
- Mass Spectrometry Instruments
- Chromatography Instruments
- Glycan Releasing Kits
- Glycan Labelling Kits
- Glycan Purification Kits
Application Outlook (Revenue, USD Billion; 2018-2028)
- Drug Discovery & Development
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Academic Research Institutes
- Pharmaceutical and Biotechnology Companies
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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