The global market size for Glycomics Glycobiology was USD 2.26 billion in 2022, with a projected CAGR of 13% during the forecast period. The increasing prevalence of chronic diseases, rising R&D expenditure in the field of glycomics, and the need for personalized treatment are the key drivers of market growth.
The scientific field of glycomics or glycobiology involves the study of saccharides, which are present extensively in nature and have significant involvement in various biological processes. The applications of glycobiology are diverse and include areas such as diagnostics, drug discovery and development, oncology, immunology, and more.
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The increasing prevalence of chronic illnesses such as cancer, diabetes, and cardiovascular diseases has generated interest in studying carbohydrates and their role in disease initiation and progression. This factor is a key driver of market revenue growth. Discovering the significance of glycans in disease initiation and progression has the potential to lead to the development of customized treatments and new therapeutic targets.
Moreover, the growth of revenue is anticipated to be boosted by the surge in research and development expenditures in the field of glycomics. In order to develop novel drugs and therapies, pharmaceutical and biotech companies are making significant investments in glycomics research and development. The availability of cutting-edge technologies such as mass spectrometry and NMR spectroscopy has facilitated researchers in understanding the molecular-level structure and function of glycans, thus enabling the identification of new therapeutic targets and the development of innovative drugs.
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The global Glycomics Glycobiology market report features several prominent companies, including Agilent Technologies, Bruker Corporation, Danaher Corporation, New England Biolabs, Shimadzu Corporation, Thermo Fisher Scientific, Waters Corporation, and Zymo Research Corporation.
Furthermore, increasing government funding and initiatives are expected to drive market revenue growth. Governments from all around the world are spending money on glycomics R&D to combat various health issues such as cancer and infectious diseases. However, high instrument and equipment costs, shortage of skilled workers, and complexity of glycan research could restrain market revenue growth.
The global Glycomics Glycobiology market is segmented by technology, application, end-use, and region. The market is driven by factors such as increasing research funding for glycobiology research, rising prevalence of cancer and other chronic diseases, demand for personalized medicine, and increasing technological advancements in glycobiology. The product types in the market include enzymes, instruments, kits, reagents, and others. Enzymes accounted for the largest revenue share in 2022, while the instruments segment is expected to register steady revenue growth rate during the forecast period. The kits segment is expected to account for a significantly large revenue share in the global Glycomics Glycobiology market during the forecast period.
In conclusion, the Glycomics Glycobiology market is expected to experience rapid revenue growth during the forecast period, driven by factors such as increasing prevalence of chronic diseases, rising R&D expenditure, and increasing government funding and initiatives. However, market growth may be restrained by high equipment costs, shortage of skilled workers, and complexity of glycan research.
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