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.
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What the Market Looks Like?
The global glycomics market is estimated to grow from USD 1.0 billion in 2020 to USD 2.0 billion by 2[173 Pages Report] 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%.
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.
What Drives the Market?
The growth of the Glycomics market is primarily influenced by the following factors:
- Increasing R&D Expenditure and Funding for Proteomics and Glycomics Research
- Growth of the Proteomics Market
- Technological Advancements in Glycomics Instrumentation
Recent Developments :
- In June 2019, Agilent Technologies (US) has launched InfinityLab LC/MSD iQ System
- In June 2018, Thermo Fisher Scientific (US) had launched UHMR Hybrid Quadrupole-Orbitrap Mass Spectrometer.
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.
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