ALBANY, NY, January 18, 2022 /PRNewswire/ — With the increasing emergence of various health problems among people around the world, the need for in-depth study of these diseases has increased. The growing prevalence of different chronic diseases creates a need for R&D projects focused on the development of innovative and advanced treatment solutions. This, in turn, is expected to drive the expansion of the global glycomics market in the coming years.
In recent years, there has been an increase in the number of research institutes and pharmaceutical companies, which perform crucial R&D in the area of drug discovery and development. During the coronavirus pandemic, pharmaceutical companies have seen steady progress, which has accelerated the drug investigation process.
Increasing financial support for R&D initiatives focused on the study of polysaccharides or gycans, increasing disease diagnostic applications and innovations in the field of biotechnology are some of the important factors generating flows of significant revenue in the global glycomics market during the pandemic.
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A study by Transparency Market Research (TMR) predicts that the global glycomics market will grow at a CAGR of 11.2% during the forecast period, 2021 to 2031.
Asia Pacific It is estimated to hold the dominant position in the glycomics market over the forecast period owing to numerous factors including the growing prevalence of several chronic health conditions in the region. Additionally, the market is believed to be seeing promising expansion avenues in emerging countries such as China, South Koreaand India.
Glycomics Market: Key Findings
- Increase in R&D projects focused on drug discovery is fueling market growth
The increasing use of glycobiology in disease diagnosis, drug discovery and development, immunology and oncology is creating significant business prospects in the global market.
Government authorities in several developing countries around the world have increased their budgets for R&D projects. In addition, they are providing financial support to pharmaceutical organizations, which are building their production capacities to meet the growing demand for drugs due to the COVID-19 pandemic. These factors strengthen the global glycomics market.
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- Expansion of academic and research institutes to support market growth
In recent years, there has been an increase in the number and modernization of various academic and research institutes, which study glycomics which plays a key role in vaccine development, precision drugs, rapid drug development, etc Additionally, several research institutes are collaborating with key market contributors to receive funding for different biochemical and biomedical research. These factors are propelling the expansion of the glycomics market. Additionally, growing collaborations between research institutes and market players for the study of glycomics and proteomics to develop advanced treatment solutions for genetic diseases are fueling the global glycomics market.
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Glycomics Market: Growth Boosters
- Technological advancements in the pharmaceutical industry are expected to generate lucrative business prospects in the market
- Rising cases of chronic health conditions including cancer and diabetes are estimated to drive demand opportunities in the market
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Glycomics Market: Key Players
Some of the major market players are:
- Glycomic Asparia
- Agilent Technologies, Inc.
- Canadian Glycomics Network (GLYCONET)
- Bruker Corporation
- Glyco Expression Technologies, Inc.
- New England Biolabs
- Merck KGaA
- Shimadzu Company
- RayBiotech, Inc.
- Vector laboratories
- Thermo Fisher Scientific Inc.
- Organic GlydeInc.
Glycomics market segmentation
type of product
- Antibody chips
- Lectin charts
- MALDI TOF
- Other glycomics instruments
- Glycan Labeling Kits
- Glycan Purification Kits
- Glycan Release Kits
- Drug discovery and development
- University research institutes
- Pharmaceutical and biotechnology companies
- Contract research organizations
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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