The global glycomics/glycobiology market is expected to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investment in R&D by research institutes and pharmaceutical & biotechnology companies has been a major factor driving market growth. In addition, technological advancement has led to increased demand for advanced glycomics products for drug discovery & development, diagnostics, and oncology research.
Escalating popularity of personalized medicines for the treatment of several severe chronic diseases and genetic disorders is another major factor contributing toward the growth. Personalized medicines involve the application of glycomics for the study of structure and function of glycans that are attached to biomolecules. Glycans play a crucial role in modulating various biological processes and their assessment can help determine the susceptibility to diseases & response to treatment. Thus, application of glycobiology products is expected to rise in near future, owing to their high potential in personalized medicine.
Untapped opportunities in developing regions, including Asia Pacific and Africa, are another major factor supporting the growth of the glycomics market. Glycomics research is important for comprehensive study of glycomes to understand the cellular signaling pathways, cell functions, genetic structure, and physiological & pathological aspects. Glycomics research has become more popular these days due to its advantages over genomic/proteomic analysis that cannot be used to study many pathological processes. Thus, the demand for advanced glycomics products by researchers and healthcare professionals is expected to fuel the sector growth.
U.S. glycomics/glycobiology market, by product, 2014 – 2025 (USD million)
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Further key findings from the report suggest:
- Enzymes segment is the fastest growing segment of the glycobiology market in 2016, due to its huge application in research & diagnostics and repetitive purchase of these products
- In the application segment, drug discovery & development accounted for the largest revenue share in 2016, owing to the growing focus on novel drug development and demand for personalized medicines
- The academic and research institutes dominated in terms of revenue in 2016, owing to the large focus on glycobiology research and proteomics study
- The North America glycobiology market is the leading regional sector and expected to dominate the market during forecast period
- Existence of large number of research laboratories, pharmaceutical companies, and biotechnology companies in North America region is the major reason for the high demand for glycobiology products in this region
- The Asia Pacific glycobiology market is expected to grow at the highest growth rate during the forecast period
- Some of the major players include Danaher; ProZyme; Shimadzu Corporation; Agilent Technologies; Bruker; Merck KGaA; Takara Bio, Inc.; New England Biolabs; ThermoFisher Scientific, Inc.; and Waters Corporation
For more information: http://www.grandviewresearch.com