Outlook on the Glycomics Global Market to 2029 – Rising R&D Investment by Biotechnology Companies for Novel Drug Development Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Glycomics Market Analysis by Product, by Application, by End Use, and by Region – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.

The global glycomics market size is estimated to be USD 1,486.8 million in 2021 and is expected to witness a CAGR of 17.73% during the forecast period.

Companies Mentioned

• Merck KGaA (Germany)
• Waters Corporation (U.S.)
• Takara Holdings (Japan)
• General Electric Company (U.S.)
• Shimadzu Corporation (Japan)
• Agilent Technologies Inc. (U.S.)
• Danaher Corporation (U.S.)
• New England Biolabs (U.S.)
• Thermo Fisher Scientific (U.S.)
• Bruker Corporation (U.S.)

Rising R&D investment by biotechnology companies for novel drug development is a key driver for the growth of the global glycomics market.

Additionally, increase in public & private funding for glycomics and proteomic studies, introduction of advanced analytical techniques, and growing research & development projects by pharmaceutical companies are some of the other drivers propelling the market growth. However, robust government policy and high price of instruments are expected to restrain the global market growth

By Product

Based on product, the market is segmented into reagents, instruments, kits, and enzymes. In 2021, the instruments segment accounted for a significant revenue share and is expected to grow with a lucrative CAGR during the forecast period.

This is attributed to the recurrent application of in discovery of novel drugs and diagnostic testing coupled with re-purchases, worldwide. Enzyme segment is anticipated to grow at a profitable CAGR during the forecast period. This is attributed to escalating research in diagnosis and cancer therapeutics.

By Application

Based on application, the market is categorized into diagnostics, drug discovery & development, and others. The biopharmaceutical & biotechnology companies segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period.

Comprehensive research and improved funding by government for research associated to proteomics and glycomics is a key factor that is expected to drive the segment growth. Other application segment is anticipated to grow at the fastest CAGR during the forecast period. This is attributed to increasing R&D expenses experienced by leading companies and growing clinical trials.

By End Use

Based on end use, the market is categorized into academic and research institutes, hospitals, pharmaceutical and biotechnological companies, and CROs. The academic and research institutes segment accounted for the highest revenue in 2021. Rising R&D investment by public and private investors is a key factor that is expected to drive the segment growth.

The pharmaceutical and biotechnological companies segment is projected to grow at the fastest CAGR during the forecast period. This is attributed to rising investments in drug discovery research and additional glycobiology associated studies.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the presence of leading biopharmaceutical companies, advanced healthcare infrastructure, and adequacy and reach of resources in this region.

Asia Pacific market is projected to grow at a lucrative CAGR over the forecast period owing to medical economic growth, expansion of activities by pharmaceutical and biopharmaceutical companies, and investments by CROs & biopharmaceutical companies for the development of biologics and drugs in this region.

For more information about this report visit https://www.researchandmarkets.com/r/i0p4nn

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