Increasing glycomics research, rising investment in drug discovery and development, and growing opportunities in biopharmaceutical sector are key factors driving market growth
Market Size – USD 1.0 Billion in 2020, Market Growth – at a CAGR of 14.1%, Market Trends – Growing demand for advanced glycomics and glycobiology tools
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.
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Top Companies Profiled in the Report:
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.
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:
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)
Application Outlook (Revenue, USD Billion; 2018-2028)
End-use Outlook (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; 2018-2028)
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