According to the MRFR analysis, the global glycoprotein market size was valued at around USD 350 million in 2020 and is expected to reach over USD 500 million by the end of 2028 at a CAGR of 2.6%.
The growth in the usage of glycoprotein is attributed to the continuous use of these in the medical and pharmaceutical industries as they play an important role in physiological events such as cell-cell recognition, signal transduction, inflammation, and tumorigenesis.Furthermore, the increasing application of glycoprotein for research institutes is expected to further fuel the growth of glycoprotein market during the forecast period.
By Product Type
• N-linked: The N-linked segment is expected to be the fastest growing segmentdue to the increasing demand from the research and medical sectors in the coming years. They provide structural components to the cell wall and extracellular matrix, modify protein properties such as stability and solubility, and mediate cell signaling. Therefore, the N-linked market is expected to gain major traction for the global market in the forecast period.
• O-Linked: The O-linked segment held the largest market share of over 50% in 2020and is expected to dominate the market during the forecast period. This is attributed to the increasing demand for various pharmaceutical applications; for instance, it improves immune response, protects against invading microbes, and facilitates fertilization. Thus, these applications are expected to enable the segment to capture a major market share during the forecast period.
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• Hospital: This segment is expected to dominate the market throughout the forecast period. The application of glycoprotein in medical has helped the manufacturers to make large production over the last couple of years. This segment due to covid-19 is expected to have even more share than the historic period.
• Research Institutes: This is the fastest growing segment owing to theincreasingfocus of research institutes on creating better binders and protein activity; this is expected to propel the growth of glycoprotein market during the review period.
• Others: The others segment include pharmaceuticals and food industry.
• North America: The largest and fastest-growing regional market.
• Europe: A well-established medical and pharmaceuticalmarket.
• Asia-Pacific: Market growth is driven by the demand from medical and research industry.
• Latin America: Rapid growth ofpharmaceutical manufacturing plants is fueling the demand for glycoprotein in Latin America.
• Middle East & Africa: Growing demand from the medical industriesand investment in pharmaceutical development of the region is fueling the demand of the glycoprotein in the region.
In 2020, glycoprotein was priced around USD 123.5 to 134.8 per unit across the globe. In the same year, the price of N-linked varied from USD 118.8 to 127.6 per unit. The price ofglycoprotein is expected to witness a gradual rise with a range from USD 131.8 to 142.6per unit by2028. This change in price is expected to be influenced by the availability and pricing of raw materials and growing demand, which is expected to stream-up during the forecast period.
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