Glycomics Market Forecast to 2028
The Glycomics market is expected to grow from US$1,340. 80 million in 2021 at US$3,223. 30 million by 2028; it is estimated to grow at a CAGR of 13.4% from 2022 to 2028. The report highlights the prevailing market trends and factors driving the glycomics market.
New York, Aug. 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Glycomics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product; Application ; End User and Geography” – https://www.reportlinker.com/p06316322/?utm_source=GNW
The glycomics market is driven by increased glycomics research, increased investment in R&D, and the use of glycomics to treat various diseases, leading to the development of new treatment methods.
Additionally, new research tools for glycomics are expected to emerge as an important future trend in the market over the forecast period. However, high equipment costs and shortage of skilled professionals are hampering the overall market growth.
Glycans are responsible for much of the structural variation in biological systems, and their representation on cell surfaces is commonly referred to as the “glycome”. Glycomics is an emerging field that aims to focus on the structure and function of glycans in a cell, tissue, or organism. Glycans are chain structures of free carbohydrates or conjugated to macromolecules such as lipids or proteins. They contribute to a diverse selection of biological processes such as protein folding, cell signaling and immune recognition. These are implicated in several diseases such as oncological, autoimmune and other diseases.
As scientists focused their efforts in the area of glycomics, they began to learn important details about the functions of glycans and glycosylation in the body, including cellular communication and what these factors might reveal about the body. disease development and diagnosis. The application category is drug discovery and development, mainly due to increase in R&D by pharmaceutical and biotechnology companies and expansion of drug discovery research activities in academic research institutes .
For example, in April 2020, to commercialize a cutting-edge tool for cancer detection, researchers from the Institute for Glycomics and the University of Adelaide signed an exclusive license agreement with Sienna Cancer Diagnostics Ltd. These researchers created a special protein called SubB2M, which attaches exclusively to a sugar molecule, which is found only in cancer cells.
This protein could revolutionize cancer detection. Additionally, in January 2022, the National Health and Medical Research Council (NHMRC) awarded Institute of Glycomics researchers grants totaling more than US$1,100,000 million to help them create new medicines to treat multidrug-resistant gonorrhea infections.
Thus, these advances show that glycomics has the potential to provide rapid and accurate diagnostic methods that transcend various clinical indications and complex conditions. Hence, the use in the development of drugs for diseases across the globe is a key factor driving the glycomics market.
These advances show that glycomics has the potential to provide rapid and accurate diagnostic methods that transcend diverse clinical indications and complex conditions. Hence, the use in the development of drugs for diseases across the globe is acting as a key factor driving the glycomics market.
On the basis of product, the glycomics market is segmented into enzymes, instruments, kits, and reagents. The enzymes segment would hold the largest market share in 2021, and the same segment is expected to register the highest CAGR in the market during the forecast period.
On the basis of application, the glycomics market is segmented into drug discovery and development, diagnostics, immunology, cancer, and others. The drug discovery and development segment held the largest market share.
However, the diagnostics segment is expected to grow at the highest CAGR during the forecast period. On the basis of end-user, the market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and contract research organizations.
The pharmaceutical and biotechnology companies segment held the largest market share, and the same segment is expected to grow at the highest CAGR during the forecast period.
Impact of COVID-19 – Glycomics Market
The COVID-19 pandemic has significantly affected the global healthcare system. To combat the spread of SAR-CoV-2, governments have imposed strict policies to prevent and reduce infection and death rates.
According to the Department of Emergency Medicine, in many cities in various countries across North America, emergency department visits decreased by approximately 40% in 2020. Additionally, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.
However, various regional markets have the presence of several cutting-edge and state-of-the-art research laboratories. This has led to increased demand for glycomics research during the pandemic, positively affecting the market.
Various manufacturers of pharmaceutical and diagnostic tools have responded to rapidly changing challenges with multiple interventions and innovations.
Glycomics technology and the sugar code, the third alphabet of life, present real opportunities to advance omics systems research from discovery to a range of useful applications in global public health and preventive medicine for COVID- 19. Glycomics has the potential to dramatically improve global health, giving scientists around the world the ability to develop vaccines against new and existing infectious organisms.
Additionally, the growing presence of pharmaceutical companies and research institutes to assist in the discovery and development of drugs related to the SARS-CoV-2 virus is driving the growth of the glycomics market. Various glycomics services have been made available in Europe, such as glycosylation site analysis, detailed glycan characterization, glycan profiling analysis, and glycan antennal profiling analysis for samples including COVID-19 patient samples, which will help the market to expand significantly in the coming years. as well.
Various organic and inorganic strategies are adopted by companies operating in the glycomics market. Organic strategies primarily include product launches and product endorsements.
Further, inorganic growth strategies seen in the market are acquisition, collaboration, and partnership. These growth strategies enable market players to expand their businesses and improve their geographical presence, thereby contributing to the overall growth of the market.
Moreover, acquisition and partnership strategies help market players to strengthen their customer base and expand their product portfolios. Some of the significant developments by the key players in the glycomics market are listed below.
• In June 2022, Waters Corporation unveiled new instruments, software, and product enhancements to drive drug discovery and development at the American Society for Mass Spectrometry (ASMS) 2022 Annual Conference. Products include the new Xevo G3 quadrupole time-of-flight (QTof) mass spectrometer and an electrospray ionization source for the Waters SELECT SERIES multi-reflective time-of-flight (MRT) mass spectrometer.
• In January 2022, Bruker Corporation acquired Prolab Instruments GmbH, a Swiss technology company specializing in high-precision, low-flow liquid chromatography technology and systems. This has augmented the proteomics and metabolomics workflows of high performance mass spectrometry systems such as the timsTOF or scimaX MRMS platforms.
Some of the major primary as well as secondary sources mentioned while preparing the Glycomics market report are National Health and Medical Research Council (NHMRC), Government of Canada, and Bioprocessing Technology Institute (BTI) among others.
Read the full report: https://www.reportlinker.com/p06316322/?utm_source=GNW
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