(PharmaNewsWire.Com, March 05, 2020 ) According to the new market research report "Glycomics / Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (HPLS, Mass Spectrometry, MALDITOF), Kits & Reagents (Glycoproteins)), Application (Diagnostic, Drug Discovery, Oncology), End User - Global Forecast to 2021", published by MarketsandMarkets™, The global glycobiology market is expected to reach USD 1,211.4 million by 2021 from USD 649.5 million in 2016, at a CAGR of 13.3%.
Glycobiology products are widely used for analysis of cell surface markers, which can act as diagnostic or therapeutic targets. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
Glycobiology Market Dynamics
Drivers
1. Increasing funding for Proteomics & glycomics research and growing
R&D expenditure
2. Growth of the proteomics market
3. Technological advancements in glycomics instrumentation
Restraints
1. High degree of consolidation acts as an entry barrier for new entrants
2. Stringent regulatory frameworks and time-consuming approval processes
Opportunities
1. Increased use of personalized medicine
2. Biomarkers identification
3. Developing countries and emerging markets
Challenges
1. High cost of tools and instruments and their maintenance
Glycomics plays a crucial role in analyzing the molecular mechanism of various types of cancers. Glycomics also plays an important role in identifying new biomarkers for cancers. Biomarkers are used as key diagnostic targets for various types of cancers. They can also be used for devising novel and personalized therapies for cancer patients. Owing to its ability to differentiate between protein sub-types based on the molecular structure of their glycan patterns, glycomics has emerged as an important research tool for the discovery and validation of protein-based cancer biomarkers.
Key Players and Strategies Adopted by Them:
The key players in the glycobiology market include Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), New England Biolabs (U.S.), ProZyme, Inc. (U.S.), Shimadzu Corporation (Japan), Merck KGaA (Germany), Takara Bio, Inc. (Japan), Thermo Fisher Scientific (U.S.), and Waters Corporation (U.S.).
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