(PharmaNewsWire.Com, March 11, 2021 ) According to the new market research report "Glycomics / Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (Mass Spectrometry, Chromatography), Carbohydrates, Reagents & Chemicals), Application (Disease Diagnostics), End-User (Academic) -Global Forecasts to 2025", published by MarketsandMarkets™,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%.
This study involved four major activities in estimating the current size of the glycomics market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. The bottom-up approach was employed to estimate the size of the market. After that, market breakdown and data triangulation procedures were used to determine the extent of segments and subsegments.
Key Factors Driving Market Growth:
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. However, the high cost of tools is expected to hamper the market growth to a certain extent during the forecast period.
Revenue Growth Analysis:
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%.
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Secondary research was mainly used to identify and collect information for the extensive, technical, market-oriented, and commercial study of the glycomics market. The secondary sources used for this study include the Institute for Glycomics, GLOBOCAN, Biotechnology, and Biological Sciences Research Council, French Society for Electrophoresis and Proteomic Analysis, World Health Organization, International Federation of Pharmaceutical Manufacturers & Associations, Annual Reports, Press Releases, SEC Filings, and Investor Presentations.
The demand for glycomics products for drug discovery & development is estimated to grow at a high rate during the forecast period
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.
Enzymes segment accounted for the largest share of the glycomics market, by product, in 2019
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.
North America is the largest regional market for glycomics
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. The largest share of North America is mainly attributed to increasing investments in glycomics research, rising R&D investments in pharmaceutical companies for drug discovery and the presence of all key players.
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