LOS ANGELES, July 09, 2019 (GLOBE NEWSWIRE) -- The global Glycomics/Glycobiology market size is estimated to grow at CAGR above 14.3% over the forecast time frame and reach the market value around USD 2.2 billion by 2026.
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A growing emphasis on studies into glycomics and proteomics resulted in this market growth. Academic scientists have also been able to create fresh instruments through significant investments in this sector. The field of glycoscience is thus increasing, which makes the industry a strong impact driver. In biodiversity procedures, glycans are crucial and study helps to more comprehensively understand biology, without specializing in glycobiology. The average R&D expenses of medium-sized biotech businesses rose about 14 percent from 2016 to 2017, according to BDO Biotech Briefing 2018.
The increased discovery and development of drugs leads to increased investment in R&D by biotechnology firms. Thus, there is a continually growing need for glycomic research methods to carry out an extensive glycomic study. The enhanced need for glycomic methods has resulted in an enhanced amount of Government projects to raise financing for R&D. Investments in science and innovations for the period 2017-2018 were approximately $10.4 billion by the government of Australia. In 2015, the Irish Government announced a USD 5.6 billion expenditure program to increase from 25,000 to 40,000 science studies.
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Such financing projects should increase demand for research methods for glycomics in the near future. Key businesses also undertake comprehensive R&D projects to create fresh and advanced technology goods. Shimadzu Corp., for example, collaborated with PREMIER Biosoft in 2018 to present its mass spectrometry scheme for advanced evaluation of glycomics and lipidomics in LCMS-9030 Quadrupole Flight Time (quadrupole time of vol) mass spectrometry. In addition, Gly-Q Glycan Analysis System, an embedded platform for user-friendly, high-performance glycoanalysis, has been introduced in 2016 by proZyme, inc.
Key Findings
Because of its broad implementation in research and diagnostics and repetitive purchases of such products, Enzymes are anticipated to be the world's fastest-growing market for glycobiology.
Due to a strong demand for personalized drugs and a concentrate on new drug development, drug discovery & growth accounted for the biggest income share in the application segment in 2018.
North America was in 2018 the world market leader in glycomics and glycobiology and will continue its domination over the projected era.
The regional market is driven mainly by the presence of numerous North American study laboratories and pharmaceutical and biotechnological enterprises.
As the amount of drug and biopharmaceutical businesses in the region increases, Europe is anticipated to register its largest CA GR from 2019 to 2026.
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Key Players & Strategies
Agilent Technologies, Thermo Fisher Scientifical, Inc., Takara Bio, Inc., Merck KGaA, Bruker, Shimadzu Corporation, Biolabs, Danaher, and ProZyme are among the main businesses on the market. Most of these businesses have a wide product range and powerful regional presence.
The main strategies conducted by these businesses for sustainable growth are new product launches, mergers and acquisitions, alliances and collaborations. Merck KGaA spent, for example, EUR 40 million in February 2018 to improve its facilities in the Asian region for distribution and manufacture.
In another case, Agilent Technologies acquired ULTRA Scientific Assets, which distributes accredited chemical products and norms, in July 2018. The objective of this purchase was to offer the business alternatives for life-science and to establish a broader consumer base.
Glycomics is a comparatively new technology and its innovative applications are being researched. Major market participants in glycomics therefore collaborate in the growth of newer technology with the educational institutions. In cooperation with the University of Southern California, for example, Agilent Technologies has facilitated scientists in the diagnostic sector, in fresh drug growth and in medical devices.
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