According to the new market research report “Glycomics/Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (HPLS, Mass Spectrometry, MALDITOF), Kits & Reagents (Glycoproteins)), Application (Diagnostic, Drug Discovery, Oncology), End User – Global Forecast to 2021„, published by MarketsandMarkets™, The global glycomics/glycobiology market is expected to reach USD 1,211.4 Million by 2021 from USD 649.5 Million in 2016, at a CAGR of 13.3%. The market is segmented based on product, application, end user, and region.
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The global glycomics/glycobiology market is expected to reach USD 1,211.4 million by 2021 from USD 649.5 million in 2016, at a CAGR of 13.3%. Glycomics is the study of carbohydrates and carbohydrate-containing biomolecules in biological processes. This study is used in diagnostics, drug discovery research, immunology, oncology, and various other applications. Glycomics products are widely used for analysis of cell surface markers, which can act as diagnostic or therapeutic targets. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
Market Dynamics
Drivers
- Increasing funding for proteomics & glycomics research and growing R&D expenditure
- Growth of the proteomics market
- Technological advancements in glycomics instrumentation
Restraints
- High degree of consolidation acts as an entry barrier for new entrants
- Stringent regulatory frameworks and time-consuming approval processes
Opportunities
- Increased use of personalized medicine
- Biomarkers identification
- Developing countries and emerging markets
Challenges
- High cost of tools and instruments and their maintenance
Increasing funding for proteomics & glycomics research and growing R&D expenditure drives the global glycomics market
The growing demand for remedial treatments for life-threatening diseases, such as cancer, has driven the pace of pharmaceutical and biotechnological R&D as well as overall investments made in this sector. Both glycomics (being the study of glycans) and proteomics (being the study of proteins, and holding a prominent place in glycome R&D) are research-driven sectors. Moreover, glycomic biomarkers are finding significant applications in drug development and diagnostics for such diseases. As a result, the growing availability of funding for these two sectors is expected to aid the growth of the glycomics market, in the coming years.
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The key players in the glycomics/glycobiology market include Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), New England Biolabs (U.S.), ProZyme, Inc. (U.S.), Shimadzu Corporation (Japan), Merck KGaA (Germany), Takara Bio, Inc. (Japan), Thermo Fisher Scientific (U.S.), and Waters Corporation (U.S.).
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