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Global Glycomics Market to Grow at a CAGR of 14.8% During 2022-2027, Aided by Robust Research and Development (R&D) in the Field of Glycoscience

According to a new report by EMR titled, ‘Global Glycomics Market Report and Forecast 2022-2027’, the market attained a value of about USD 1.2 billion in 2021. The industry is further expected to grow at a CAGR of 14.8% in the forecast period of 2022-2027 to reach a value of nearly USD 2.8 billion by 2027.

North America is anticipated to represent a significant share in the overall market of glycomics over the forecast period. This can be ascribed to a large percentage of biotechnology and pharmaceutical companies in the US, huge investments into research and drug development (R&D) projects, and the growth of the healthcare sector in the region. In addition to this, the market in the region is also expected to flourish with the rising number of collaborations between private research institutes and established pharma companies for drug development. Apart from this, the Asia Pacific region is expected to witness a robust growth rate during the forecast period owing to the development of healthcare infrastructure of major countries aided by government funding and the establishment of global pharmaceutical and research companies in the untapped markets. The market growth can be further associated with the expansion strategies employed by leading market players such as Merck KGaA (ETR: MRK) and Agilent Technologies, Inc (NYSE: A), among others.

New England Biolabs, Genos, and Waters Corporation announced a collaboration to accelerate glycomics research by providing goods and services important for glycan analysis in June 2019. Launched in October 2018, Human Glycome Project is a global initiative to evaluate the structure and function of human glycans. The agreement between the three institutes was aimed at enabling the analysis of glycans in 10,000 human samples per year for which Waters and NEB provided reagents and consumables, while Genos carried out the analysis. The study was aimed at researching the potential benefits of glycans for the treatment of various diseases. Such developments have been expanding the growth of the market.

Market Analysis by Product, Application, End-Use, and Region:

  • Based on product, the market can be divided into enzymes, kits, reagents, and instruments.
  • On the basis of application, the market can be segmented into drug discovery and development, and diagnostics, among others.
  • The market, based on end-use, can be classified into academic and research institutes, pharmaceutical and biotechnology companies, and contact research organisations (CROs).
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising number of research activities in the field of glycoscience for drug development and diagnostics.
  • The active collaborations between pharmaceutical and biotechnology companies with academic research institutes in various developed nations have been aiding the growth of the market.
  • The advancements in research and analytical technology in recent years for evaluating the potential benefits of glycomics in various applications is augmenting the market growth.
  • The strong penetration and expansion strategies employed by leading pharmaceutical and biotech companies are expected to have a positive influence on the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global glycomics industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for products, applications, end-uses, and major regions of glycomics.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global glycomics market are Merck KGaA, Thermo Fisher Scientific Inc., Shimadzu Corporation, Agilent Technologies, Inc., and Takara Bio Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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