Glycomics/Glycobiology Market By Product, Application and End User | Statistics & Trends

Posted July 12, 2019 by healthcaremarket

Increasing funding for proteomics & glycomics research and growing R&D expenditure drives the global glycomics market

According to the new market research report "Glycomics / Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (HPLS, Mass Spectrometry, MALDITOF), Kits & Reagents (Glycoproteins)), Application (Diagnostic, Drug Discovery, Oncology), End User - Global Forecast to 2021", published by MarketsandMarkets™, The global glycobiology market is expected to reach USD 1,211.4 million by 2021 from USD 649.5 million in 2016, at a CAGR of 13.3%.

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Glycobiology is the study of carbohydrates and carbohydrate-containing biomolecules in biological processes. This study is used in diagnostics, drug discovery research, immunology, oncology, and various other applications. Glycobiology products are widely used for analysis of cell surface markers, which can act as diagnostic or therapeutic targets. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.

Increasing funding for proteomics & glycomics research and growing R&D expenditure drives the global glycomics market

The growing demand for remedial treatments for life-threatening diseases, such as cancer, has driven the pace of pharmaceutical and biotechnological R&D as well as overall investments made in this sector. Both glycomics (being the study of glycans) and proteomics (being the study of proteins, and holding a prominent place in glycome R&D) are research-driven sectors. Moreover, glycomic biomarkers are finding significant applications in drug development and diagnostics for such diseases. As a result, the growing availability of funding for these two sectors is expected to aid the growth of the glycobiology market, in the coming years.

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The application segments of drug discovery and development, and oncology will be important revenue pockets of the glycomics market in the forecast period (2014 - 2019). The drug discovery and development applications segment is expected to grow at the highest CAGR between 2012 and 2019. Glycomics research will aid in the investigation of defective proteins and how they may cause particular diseases, which by extension helps in developing new drugs. Furthermore, glycomics products are used to identify new biomarkers for cancers; these biomarkers act as key diagnostic targets for various types of cancers. Biomarkers can also be used for devising novel and personalized therapies for diseases like cancer.

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Issued By marketsandmarkets
Country United States
Categories Health
Tags glycomics glycobiology market
Last Updated July 12, 2019