Burlingame, May 07, 2024 (GLOBE NEWSWIRE) -- The Global glycomics market is estimated to be valued at USD 1.99 Bn in 2024 and is expected to reach USD 4.82 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Glycomics is the study of the complete set of sugars, or glycomes, of an organism. It involves the analysis of glycan structures present in glycoproteins and glycolipids. Glycomics is applicable across sectors including pharmaceutical, biotechnology, and academic research.
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Market Dynamics:
The Glycomics market is being primarily driven by increasing research and development activities in the field of glycomics. With the growing importance of glycomics in drug discovery and development, there is a rising demand for glycomics products and services. Additionally, the increasing prevalence of chronic diseases such as cancer and diabetes, which require personalized medicine approaches, is also contributing to the growth of the Glycomics market.
Glycomics Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $1.99 billion |
| Estimated Value by 2031 | $4.82 billion |
| Growth Rate | Poised to grow at a CAGR of 13.5% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, By Application, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Growing biopharmaceutical industry and rising research & development investments • Personalized medicine and increasing diagnostics demand |
| Restraints & Challenges | • Lack of standardized glycomic analysis methods • High costs associated with glycomics research and analysis |
Market Trends:
One of the key trends in the Glycomics market is the growing adoption of glycomics in biomarker discovery and diagnostics. Glycomics has shown promising results in identifying novel biomarkers for various diseases, leading to its increased use in diagnostic applications. Another trend is the rising collaborations between academic institutions, research organizations, and pharmaceutical companies to further explore the potential of glycomics in precision medicine. Such partnerships are expected to drive innovation and propel the growth of the Glycomics market in the coming years.
Market Opportunities:
With the increasing prevalence of chronic diseases and the shift towards personalized medicine, the glycomics market is witnessing a surge in demand. Glycans play a crucial role in various biological processes and can serve as biomarkers for disease diagnosis and prognosis. As a result, there is a growing need for glycomics products for diagnostics and drug discovery applications. Reagents, particularly, are expected to dominate the market due to their widespread use in glycomics research.
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Technological advancements in glycomics tools and techniques are driving innovation in the market. New enzymes, kits, and equipment are being developed to enhance glycan analysis and characterization. This surge in product development is fueling the growth of the glycomics market, as researchers and biopharmaceutical companies seek more efficient and accurate methods for glycan analysis. The increasing adoption of glycomics technologies in academic research and drug development is further boosting market growth.
Key Market Takeaways:
The Glycomics Market is anticipated to witness a CAGR of 13.5% during the forecast period 2024-2031, owing to the growing demand for personalized medicine and advancements in glycomics technologies.
On the basis of product type, the reagents segment is expected to hold a dominant position, driven by their widespread use in glycomics research.
In terms of applications, diagnostics is set to dominate the market, as glycans are increasingly used as biomarkers for disease diagnosis. Biopharmaceutical companies are expected to be the leading end-users of glycomics products.
North America is expected to hold a dominant position in the glycomics market, due to the presence of key players and research institutions in the region.
Key players operating in the market include RayBiotech Life, Inc., Shimadzu Corporation, Asparia Glycomics, and Agilent Technologies Inc. The market is characterized by intense competition and a focus on product innovation to meet the growing demand for glycomics solutions.
In conclusion, the glycomics market presents lucrative opportunities for key players, as the demand for personalized medicine and advancements in glycomics technologies continue to drive market growth. By focusing on product innovation and strategic partnerships, companies can capitalize on the growing market potential and establish a strong foothold in the glycomics industry. With the increasing adoption of glycomics solutions across various sectors, the market is poised for significant expansion in the coming years.
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Recent Developments:
In March 2024, Bunker Corporation reported advancements in 4D proteomics workflows enabled by Collision Cross Section technology, including glycoproteomics and immunopeptidomics.
In April 2021, a collaboration to transfer glycomics research into viable medicine for patients with genetic illness announced by the pan-Canadian Network of Centers of Excellence, GlycoNet, and commercial stage.
Market Segmentation:
By Product Type:
- Reagents
- Enzymes
- Kits
- Equipment
By Application:
- Diagnostics
- Drug Discovery & Development
- Others
By End User:
- Biopharmaceutical Companies
- Academic & Research Institutes
- CROs
- Others
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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