Albany NY, United States, May 11, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR estimate the glycomics market to reach US$ 3.1 Bn by 2031. Substantial research initiatives to study glycomics, which has several applications in vaccine development, rapid drug development, and precision medicines are some key factors fueling the growth of the glycomics market.
The increasing collaboration between research institutions and key participants to undertake R&D in biochemistry and biomedical is leading to new revenue streams in the glycomics market. Growing practices of pharmaceutical companies to outsource R&D to contract research organizations is also favorable for the growth of the glycomics market.
Significant investments by multinational corporates in companies in the glycomics market is providing opportunities to the latter to undertake R&D for the expansion of niche areas in medicine. The acquisition of InVivo Biotech Services GmbH by Bruker Corporation that is expected to strengthen the latter’s expertise and leadership in preclinical imaging is a recent development in the glycomics market.
North America is a key region in the glycomics market. Increasing R&D investments in pharmaceutical companies and research institutes for new drug development and presence of some of the key pharmaceutical & biotechnology companies & research institutes make the region a major glycomics market.
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Glycomics Market – Key Findings of Report
- Need to undertake research and development in glycan for the treatment of various diseases is creating opportunities in the glycomics market. Rising prevalence of chronic diseases that has increased the focus of research institutions and associated agencies on support drug discovery and development to create profitable opportunities in the glycomics market.
- Growing participation of pharmaceutical companies to support R&D undertakings in glycan to create new revenue opportunities in the glycomics market
- Increasing role of governments in the advancement of the healthcare industry such as R&D in bioinformatics, and measures taken to support pharmaceutical companies to increase their output capacity strengthen the scope of expansion of the glycomics market
- Significant investments from multinational corporates sets the tone for future business opportunities in the glycomics market. For instance, the acquisition of Resolution Bioscience by Agilent Technologies Inc. equips the latter to expand in the fast-growing next generation sequencing (NGS) space for precision oncology.
- Investments from multinational corporates is facilitating design and development of new systems for glycomics. Launch of new generation, high resolution mass spectrometer by Thermo Fisher Scientific Inc. that entails the design to offer metabolomics, proteomics, biopharmaceutical characterization, and equips small-molecule scientists for analytical performance required for research and high-throughput analyses is a case in point.
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- The enzymes product type segment led the glycomics market in 2020, and is anticipated to continue to hold the leading market share during the forecast period
- Drug discovery & development stood as the leading application segment of the glycomics market in 2020, and is anticipated to continue to lead during the forecast period
- Pharmaceutical & biotechnology companies held dominant share among other key end users in the glycomics market in 2020
- The glycomics market in Asia Pacific is projected to register significant CAGR during the forecast period. Role of governments and research institutions for the development of new vaccines for genetic diseases such as influenza and diabetes to account for Asia Pacific to emerge as the fastest growing market for glycomics.
Glycomics Market – Growth Drivers
- Vast expenditures by governments and research institutes for R&D in glycomics that has many applications in vaccine development, drug development, and precision medicine propels the glycomics market
- Significant applications of glycobiology in drug discovery & development, oncology, disease diagnostics, and immunology to lead to significant opportunities in the glycomics market
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Glycomics Market – Key players
Some of the key players operating in the glycomics market are;
- Agilent Technologies Inc.
- Bruker Corporation
- Glyco Expression Technologies Inc.
- New England Biolabs
- Shimadzu Corporation
- Vector Laboratories
- Asparia Glycomics
- Canadian Glycomics Network
- Glycodiag
- Merck KGaA
- Raylabs Inc.
- Thermo Fisher Scientific Inc.
- Glyde Bio Inc.
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The glycomics market is segmented as follows;
Glycomics Market, by Product Type
- Enzymes
- Glycosidases
- Glycosyltransferases
- Neuraminidases
- Sialyltransferases
- Others
- Instruments
- Antibody Arrays
- HPLC
- Lectin Arrays
- MALDI-TOF
- Other Glycomics Instruments
- Kits
- Glycan Labeling Kits
- Glycan Purification Kits
- Glycan Release Kits
- Others
- Reagents
- Glycoproteins
- Monosaccharides
- Oligosaccharides
- Others
Glycomics Market, by Application
- Diagnostics
- Drug Discovery & Development
- Oncology
- Immunology
- Others
Glycomics Market, by End-user
- Academic Research Institutes
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
Glycomics Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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