Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Glycomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product; Application; End User and Geography" report has been added to ResearchAndMarkets.com's offering.
The glycomics market is expected to grow from US$ 1,340.80 million in 2021 to US$ 3,223.30 million by 2028; it is estimated to grow at a CAGR of 13.4% from 2022 to 2028.
The report highlights trends prevailing in the market and factors driving the glycomics market. The glycomics market is being driven by increased glycomics research, a rise in R&D investments, and the use of glycomics to treat various diseases, leading to the development of new treatment processes.
Additionally, the new tools in glycomics research are likely to emerge as a significant future trend in the market during the forecast period. However, high equipment costs and a shortage of skilled professionals hinder the overall market growth.
As scientists have concentrated their efforts in the glycomics field, they have started to learn important details about the functions of glycans and glycosylation in the body, including cellular communication and what these factors might reveal about disease development and diagnostics.
The largest and fastest-growing application category is drug discovery and development, mostly due to the rise in R&D by pharmaceutical and biotechnology firms and the expansion of drug discovery research activities in university research institutions.
For instance, in April 2020, to commercialize a cutting-edge cancer detection tool, researchers from the Institute for Glycomics and the University of Adelaide signed an exclusive licensing agreement with Sienna Cancer Diagnostics Ltd. These researchers have created a special protein called SubB2M, which attaches exclusively to a sugar molecule, only found in cancer cells. This protein might revolutionize the detection of cancer. In addition, in January 2022, The National Health and Medical Research Council (NHMRC) gave researchers from the Institute of Glycomics grants totaling more than US$ 1,100,000 million to help them create new medicines to treat multidrug-resistant gonorrhea infections.
Thus, these advancements show that glycomics has the potential to provide rapid and accurate diagnostics methods that transcend diverse clinical indications and complex conditions. Therefore, the use in drug development for diseases across the world is a key factor driving the glycomics market. These advancements show that glycomics has the potential to provide rapid and accurate diagnostics methods that transcend diverse clinical indications and complex conditions. Therefore, the use in drug development for diseases worldwide is acting as a key factor driving the glycomics market.
Based on product, the glycomics market is segmented into enzymes, instruments, kits, and reagents. The enzyme segment would hold the largest market share in 2021, and the same segment is expected to register the highest CAGR in the market during the forecast period.
Based on application, the glycomics market is segmented into drug discovery and development, diagnostics, immunology, cancer, and others. The drug discovery and development segment held the largest market share. However, the diagnostics segment is anticipated to grow at the highest CAGR during the forecast period.
Based on end user, the market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and contract research organizations. The pharmaceutical and biotechnology companies segment held the largest market share, and the same segment is expected to grow at the highest CAGR during the forecast period.
Market Dynamics
Market Drivers
- Increased Glycomics Research and Expanding R&D Investments
- Rising Use of Glycomics in Various Diseases Leading to Development of New Treatment Processes
Market Restraints
- High Cost of Equipment and Shortage of Skilled Professionals
Market Opportunities
- Wide Applications of Glycomics
Future Trends
- New Tools in Glycomics Research
Key Topics Covered:
1. Introduction
2. Glycomics Market- Key Takeaways
3. Research Methodology
4. Global Glycomics Market - Market Landscape
5. Glycomics Market - Key Market Dynamics
6. Glycomics Market- Global Analysis
7. Glycomics Market Analysis And Forecasts To 2028 - By Product
8. Glycomics Market Analysis And Forecasts To 2028 - By Application
9. Global Glycomics Market Analysis- By End User
10. Glycomics Market Revenue and Forecasts to 2028 - Geographical Analysis
12. Glycomics Market-Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Merck KGaA
- Agilent Technologies, Inc.
- New England Biolabs
- Thermo Fisher Scientific Inc.
- Waters Corporation
- Asparia Glycomics
- Bruker Corporation
- Takara Bio Inc.
- S-BIO
- Shimadzu Corporation.
For more information about this report visit https://www.researchandmarkets.com/r/fyr7cv
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