Glycomics Market to Expand at a CAGR of 11.2% during Forecast Period, notes TMR Study

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Nov 01, 2022, 13:30 ET

In order to cater to the growing glycomics industry globally, pharmaceutical companies are raising their output capacity
Rising healthcare spending and the existence of cutting-edge research facilities in the North America are projected to boost development of the regional market

WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ -- By 2031, the glycomics market sizes is estimated to touch valuation of US$ 3.1 Bn. The glycomics market analysis estimate the market to rise at 11.2% CAGR during the forecast period, from 2021 to 2031. The rising incidence of chronic illnesses like diabetes and cancer as well as technical developments in the pharmaceutical industry predicted to open up attractive revenue potential for companies in the global glycomics market. Besides, an increase in glycan research efforts, which is also one of the key glycomics market trends, is also anticipated to propel the market in the years to come.

In order to increase their income potential, pharmaceutical firms are entering the global market to fund glycan R&D initiatives. Government spending on healthcare and bioinformatics R&D is rising, which is anticipated to help the market grow and have a wider reach. Given that cancer is one of the primary causes of mortality, market participants are increasingly focusing on assisting medication research and development efforts in the realm of oncology to establish lucrative growth prospects.

North America is anticipated to account for substantial glycomics market shares during the forecast period.

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Key Findings of Market Report

Glycomics market forecast highlight that growing relationships with pharmaceutical R&D companies to outsource R&D tasks helps market players grow and stay competitive. The global market is driven by the growing collaborative efforts between industry players and research institutions to investigate proteomics and glycomics and find treatments for genetic illnesses.

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Global Glycomics Market: Key Players

Some of the key market players are

Canadian Glycomics Network (GLYCONET)
Thermo Fisher Scientific Inc.
Agilent Technologies, Inc.
Shimadzu Corporation
Glyco Expression Technologies, Inc.
New England Biolabs

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Global Glycomics Market: Segmentation

Product Type

Enzymes
Instruments
Kits
Reagents

Application

Diagnostics
Drug Discovery & Development
Oncology
Immunology
Others

End User

Academic Research Institutes
Pharmaceutical & Biotechnology Companies
Contract Research Organizations

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