Glycomics Market: Introduction
According to the report, the global glycomics market was valued at US$ 0.9 Bn in 2020 and is projected to expand at a CAGR of 11.2% from 2021 to 2031. Increase in R&D activities to develop novel and efficient therapies to meet unmet medical needs across the globe drives the demand for new glycomics and glycobiology tools. This is projected to boost the growth of the global glycomics market during the forecast period. North America dominated the global glycomics market in 2020, and the trend is anticipated to continue during the forecast period. This can be attributed to increase in R&D investments in pharmaceutical companies & research institutes for new drug development and presence of major research laboratories, and pharmaceutical & biotechnology companies in the region.
The glycomics market in Asia Pacific is expected to expand at a CAGR of 12.2% from 2021 to 2031. Rise in development of new vaccines for genetic diseases such as diabetes and influenza is likely to drive the market in the region during the forecast period. This, in turn, is projected to drive the demand for glycomics in emerging markets such as India and China.
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Advent of New Technology to Drive Global Market
The glycomics market has witnessed significant investments by multinational corporates in the past few years. These business conglomerates have invested in companies operating in the glycomics market. Agilent Technologies, Inc. completed the acquisition of Resolution Bioscience. The acquisition expanded the company in the fast-growing NGS market for precision oncology. Resolution Bioscience complements and expands Agilent’s capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to serve the needs of the fast-growing precision medicine market.
Bruker Corporation announced the acquisition of InVivo Biotech Services GmbH, a leading provider of monoclonal antibodies and recombinant proteins. The acquisition is expected to strengthen the company’s expertise and leadership in preclinical imaging. Through this, Bruker Corporation aims to expand its microbiology assay menu.
New England Biolabs announced the release of its newest loop-mediated isothermal amplification (LAMP) products, the WarmStart Multi-Purpose LAMP/RT-LAMP 2X Master Mix (with UDG) and the WarmStart Fluorescent LAMP/RT-LAMP Kit (with UDG), which combines the master mix and LAMP fluorescent dye in one convenient kit.
Thermo Fisher Scientific, Inc. introduced a new generation, high resolution mass spectrometer (MS), designed to give proteomics, metabolomics, biopharmaceutical characterization, and small-molecule scientists the analytical performance required for research and high-throughput analyses. The new system will help drive discovery and identification with increased accuracy for confident scale-up, while operational simplicity and speed streamline time to results.
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Enzymes Dominated Glycomics Market
In terms of product type, the global glycomics market has been classified into enzymes, instruments, kits, and reagents. The enzymes segment dominated the global glycomics market in 2020, and the trend is anticipated to continue during the forecast period. The increase in demand for enzymes is expected to drive the segment over the next few years.
Drug Discovery & Development to Lead Glycomics Market
Based on application, the global glycomics market has been categorized into diagnostics, drug discovery & development, oncology immunology, and others. The drug discovery & development segment dominated the global glycomics market in 2020 and the trend is likely to continue during the forecast period.
Pharmaceutical & Biotechnology Companies to be Promising End-users
In terms of end-user, the global glycomics market has been divided into academic research institutes, pharmaceutical & biotechnology companies, and contract research organizations. The pharmaceutical & biotechnology companies segment held major share of the global glycomics market in 2020.
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Asia Pacific to Dominate Global Market
The global glycomics market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is projected to account for a leading share of the global glycomics market during the forecast period, owing to increase in the number of patients suffering from chronic diseases in hospitals. The glycomics market in Asia Pacific is anticipated to grow at a rapid pace over the next few years. India, China, and South Korea are expected to be lucrative markets in the near future.
Glycomics Market: Key Players
Key players operating in the global glycomics market are Agilent Technologies, Inc., Asparia Glycomics, Bruker Corporation, Canadian Glycomics Network (GLYCONET), Glyco Expression Technologies, Inc., Glycodiag, Merck KGaA, New England Biolabs, RayBiotech, Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., Vector Laboratories, and Glyde Bio, Inc.
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