Growth in the proteomics market and technological advancements in glycomics instrumentation is boosting the market for glycomics/glycobiology
The glycomics/glycobiology market accounted for US$ 0.82 billion in 2018 and is estimated to be US$ 2.4 billion by 2026 and is anticipated to register a CAGR of 14.7%.
The report. “Global Glycomics/Glycobiology Market, By Product Type (Enzymes, kits, Reagents, and Instruments), By Application (Drug Discovery & Development, Diagnostics, and Others), By End-user (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, and CROs), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2026”.
Key Highlights:
- In July 2018, Agilent Technologies finalized the acquisition of ULTRA Scientific Assets. The company involved in distribution of certified chemical materials and standards. This acquisition was intended to provide life sciences solutions to the company, creating a wider consumer base.
- In January 2018, Agilent Technologies Inc. declared that it has formed a strategic scientific collaboration with the University of Southern California (USC) Michelson Center for Convergent Bioscience to produce an Agilent Center of Excellence (CoE) in Biomolecular Characterization.
Analyst View:
Biotech companies are leading to rise in R&D investments due to growth in their drug discovery and development. Further, increasing the number of initiatives undertaken by the government to upsurge funding for R&D has resulted to the increased need for glycomics techniques. The Australian government invested approximately US$ 10.4 billion for scientific research innovations and activities for the period 2017-2018. In 2015, the Irish Government also invested US$ 5.6 billion spending on research, which was intended to grow the number of scientific research activities from 25,000 to 40,000. Hence, the necessity for glycomics research techniques for leading comprehensive glycomes study is continuously increasing.
Enzymes are projected to estimate for a significant market share over the forecast period due to growing research in cancer therapeutics and diagnosis. Glycomics deals with several research methods to define or quantify glycome of a tissue, cell, or organism. Key players are also undertaking extensive R&D initiatives to develop technologically advanced and new products. For instance, in 2016, ProZyme, Inc. developed Gly-Q Glycan Analysis System, and combined platform that provides high-throughput and user-friendly glycoanalysis.
Key Market Insights from the report:
The global glycomics/glycobiology market accounted for US$ 0.82 billion in 2018 and is estimated to be US$ 2.4 billion by 2026 and is anticipated to register a CAGR of 14.7%. The market report has been segmented on the basis of product type, application, end-user, and region.
- By product type, the enzymes segment is projected to lead the market in 2020 and is estimated to grow at the highest CAGR in the coming years. The high growth and large share of this segment is mainly due to wide applications pf enzymes and consumable nature and their in a variety of R&D and drug discovery procedures.
- By application, drug discovery & development is the highest and the fastest-growing application segment in the global market, due to growing R&D investments in biotechnology and pharmaceutical companies and the increasing number of drug discovery research activities in academic research institutes.
- By end-user, academic and research institutes estimated for the highest revenue share in 2018 owing to increased R&D investments. Collaborations between research institutes and major organizations are further propelling the segment expansion.
- By region, North America estimated for the highest market share in 2018 owing to the presence of major pharmaceutical and biopharmaceutical companies including Agilent Technologies, Merck KGaA, Danaher, and Thermo Fisher Scientific.
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Glycomics-Glycobiology-Market-4227
Competitive Landscape:
The prominent player operating in the global glycomics/glycobiology market includes Agilent Technologies, Thermo Fisher Scientific, Inc., Merck KGaA, New England Biolabs, Danaher, Shimadzu Corporation, Bruker, Takara Bio, Inc, and ProZyme.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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