New York, United States , Nov. 18, 2022 (GLOBE NEWSWIRE) -- The Global Glycobiology Market Size to grow from USD 1,555 million in 2021 to USD 4,671 million by 2030, at a Compound Annual Growth Rate (CAGR) of 13% during the forecast period. The glycobiology market has grown due to the increasing demand for government funding for glycobiology research and growing R&D expenditure by pharmaceutical and biotechnology companies.
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The instruments segment accounts for the largest market size during the forecast period
Based on the type, the global glycobiology market is categorized into Reagents, Instruments, Kits, and Enzymes. The instruments segment accounts for the largest market size during the forecast period. Instruments took up the biggest share of the market because they were used so often in drug development and diagnostic testing.
The pharmaceutical and biotechnology segment to hold a higher CAGR during the forecast period
Based on end-user, the glycobiology market is categorized into Academic & Research Institutes, Pharmaceutical & Biotechnology, and CROs. The pharmaceutical and biotechnology segment to hold a higher CAGR during the forecast period. The growth of the market sector is also helped by the partnerships between big companies and research centers. As investments in research and development (R&D) for drug discovery and development and other glycobiology-based studies go up, it is expected that the pharmaceutical and biotechnology firms’ sector will have the highest CAGR during the forecast period.
Browse key industry insights spread across 194 pages with 137 market data tables and figures & charts from the report “Global Glycobiology Market Size, Share, and COVID-19 Impact Analysis, By Type (Reagents, Instruments, Kits, and Enzymes), By Applications (Drug Discovery and Development, Immunology, Diagnostics, Oncology, and Others), By End-User (Academic & Research Institutes, Pharmaceutical & Biotechnology, and CROs), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents.
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COVID-19 Analysis & Impact
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The drug discovery and development segment to hold a higher CAGR during the forecast period.
Based on dosage form, the glycobiology market is categorized into Drug Discovery and Development, Immunology, Diagnostics, Oncology, and Others. The drug discovery and development segment to hold a higher CAGR during the forecast period. This is mostly because of the rise in research and development. Because big companies are spending more money on research and development (R&D) and clinical trials. For instance, in 2017, Merck spent USD 2.4 billion on research and development.
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North America is estimated to account for the highest market share in 2021.
The Global Glycobiology Market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is expected to be the largest market. The main things that have kept the market growth are good healthcare infrastructure and easy access to cutting-edge goods. Another important factor driving the growth of the glycobiology market in this region is the government's support for research and development. Asia-Pacific to hold a higher CAGR during the forecast period.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global glycobiology market include Agilent Technologies, Bruker Corp, Waters Corp, Thermo Fisher Scientific, Takara Bio, Merck, Shimadzu Corp, Prozyme, New England Biolabs, and Danaher Corp and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the report.
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