(PharmaNewsWire.Com, November 19, 2020 ) According to research report the global glycomics market is estimated to grow from USD 1.0 billion in 2020 to USD 2.0 billion by 2025, at a CAGR of 13.8%.
The growth of this market is majorly driven by the increasing research activities on glycomics, rising R&D investments in pharmaceutical and biotechnology companies, growth in the proteomics market. On the other hand, emerging countries such as India and China providing lucrative opportunities for players operating in this segment.
Based on application, the glycomics market is segmented into drug discovery & development, disease diagnostics, and other applications. Drug discovery & development is the largest and the fastest-growing application segment in the market, majorly due to the increasing R&D investments in pharmaceutical and biotechnology companies and the growing number of drug discovery research activities in academic research institutes.
1. Increasing R&D Expenditure and Funding for Proteomics and Glycomics Research 2. Growth of the Proteomics Market 3. Technological Advancements in Glycomics Instrumentation
The market is categorized into five product segments, namely, enzymes, instruments, kits, carbohydrates, and reagents & chemicals. The enzymes segment is expected to dominate the market in 2020 and is projected to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the consumable nature of enzymes and their wide applications in a variety of R&D and drug discovery procedures.
The geographical regions mapped in the report are:
1. North America 2. Europe 3. Asia Pacific 4. Middle East & Africa 5. Rest of the World (RoW)
Regional Growth, Development and Demand Analysis:
The global glycomics market is segmented into North America (US and Canada), Europe (Germany, the UK, France, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, Australia, and the Rest of Asia Pacific), and the Rest of the World (Latin America and the Middle East and Africa). In 2020, North America is expected to dominate the global market, followed by Europe.
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