Enzymes Segment to Lead Market from 2022 to 2028
According to our new research study on "Glycomics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and End User," the market is expected to grow from US$ 1,340.80 million in 2021 to US$ 3,223.30 million by 2028. It is estimated to grow at a CAGR of 13.4% during 2022–2028.
The glycomics market is being driven by increased glycomics research, a rise in R&D investments, and the use of glycomics to treat various diseases, leading to the development of new treatment processes. However, high equipment costs and a shortage of skilled professionals hinder the overall market growth. Wide applications of glycomics such as disease diagnosis and detection of cancer are expected to provide lucrative opportunities for the glycomics market in the coming years.
Based on product, the glycomics market is segmented into enzymes, instruments, kits, and reagents. The enzyme segment would hold the largest market share in 2021, and the same segment is expected to register the highest CAGR in the market during the forecast period. The enzymes segment is sub segmented into glycosidases, glycosyltransferases, sialyltransferases, neuraminidases, and others. The glycosidases segment is expected to hold the largest share in 2021, and the same segment is expected to grow at the highest CAGR during the forecast period. Growing need for drug discovery and development; developing applications in molecular biology, protein engineering, and diagnostics; and increasing research activities in the life science industry are driving the segment.
Impact of COVID-19 Pandemic on Glycomics Market
The COVID-19 pandemic significantly affected the global healthcare system. To combat the spread of SAR-CoV-2, governments imposed stringent policies to prevent and reduce the infection and mortality rates. According to the Department of Emergency Medicine, in many cities across various countries in North America, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.
However, various regional markets have the presence of several high-tech and advanced research laboratories. This led to an increased demand for glycomics research during the pandemic, positively affecting the market. Various pharmaceutical and diagnostic tools manufacturers responded to the rapidly evolving challenges through multiple interventions and innovations.
Glycomics technology and the sugar code, present real opportunities for advancing omics systems research from discovery to a range of useful applications in global public health and preventative medicine for COVID-19. Glycomics has the potential to significantly improve global health, giving scientists worldwide the ability to develop vaccines against new and existing infectious organisms.
Moreover, the increasing presence of drug companies and research institutions to aid in drug discovery and development related to the SARS-CoV-2 virus is boosting the glycomics market growth. Various glycomics services were made available in Europe such as glycosylation site analysis, detailed glycan characterization, glycan profiling analysis, and glycan antennary profiling analysis for samples, including COVID-19 patient samples which will help the market to grow significantly in the coming years as well.
Merck KGaA; Agilent Technologies, Inc.; New England Biolabs; Thermo Fisher Scientific Inc.; Waters Corporation; Asparia Glycomics; Bruker Corporation; Takara Bio Inc.; S-BIO; and Shimadzu Corporation are among the leading companies operating in the glycomics market.
Glycomics Market, by Region, 2021 (%)
Glycomics Market Size, Share, Growth | Report 2022-2028
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Glycomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments, Enzymes, Reagents, Kits); Application (Drug Discovery and Development, Diagnostics, Immunology, Cancer, Others); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations) and Geography
Glycomics Market Size, Share, Growth | Report 2022-2028
Download Free SampleGlycomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments, Enzymes, Reagents, Kits); Application (Drug Discovery and Development, Diagnostics, Immunology, Cancer, Others); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations) and Geography
The glycomics market is segmented based on product, application, end user, and geography. Based on product, the market is segmented into enzymes, instruments, kits, and reagents. In terms of application, the glycomics market is segmented into drug discovery and development, diagnostics, immunology, cancer, and others. Based on end user, the market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and contract research organizations. Geographically, the glycomics market has been segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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