Glycomics Market Growing at 13.4% CAGR During (2022-2028) to Reach USD 3.22 Billion | The Insight Partners

The Insight Partners published latest research report on "Glycomics Market Share Report, Size, Growth, Trends, Price, Demand Forecasts to 2028 - COVID-19 Impact and Global Analysis By Product; Application; End User and Geography”, the global market is expected to grow from USD 1,340.80 million in 2021 to USD 3,223.30 million by 2028; it is estimated to grow at a CAGR of 13.4% from 2022 to 2028.

Download PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00003794

Glycans are responsible for much of the structural variation in biologic systems, and their representation on cell surfaces is commonly called 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-like structures of carbohydrates that are free 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 others.

Based on end user, the glycomics market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and contract research organizations. The pharmaceutical and biotechnology companies’ segment is likely to hold the largest share of the market in 2021, and the same segment is expected to register the highest CAGR from 2022 to 2028. The rise in pharmaceutical and biotechnological products has resulted in massive market consolidations between biotechnology and pharmaceutical companies for enhanced and better treatment options. Investments made by companies have grown the market's pharmaceutical & biotechnology companies’ segment. For instance, in July 2018, Agilent acquired ProZyme, Inc.—a leading provider of glycobiology products and bioanalytical proteins—to expand its product line into glycome products. ProZyme, Inc. is a leading developer and manufacturer of glycan reagents, kits, and standards, which are required for efficient sample prep to analyze free glycans. Thus, such inorganic strategies followed by companies for better utilization of opportunities to cater to customers and the rise in the need for novel treatment solutions for a broad range of health disorders are expected to boost the growth of this segment during the forecast period.

Quickly Purchase Premium Copy of Glycomics Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00003794

Global Glycomics Market Share Report, Segmentations, Regional & Country Scope:

Browse key market insights spread across 274 pages with 192 list of tables & 97 list of figures from the report, "Glycomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments, Enzymes, Reagents, Kits); Application (Drug Discovery and Development, Diagnostics, Immunology, Cancer, Others); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations) and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/global-glycomics-market

As scientists have concentrated their efforts in the glycomics field, they have started to learn important details about the functions of glycans and glycosylation in the body, including cellular communication and what these factors might reveal about disease development and diagnostics. The largest and fastest-growing application category is drug discovery and development, mostly due to the rise in R&D by pharmaceutical and biotechnology firms and the expansion of drug discovery research activities in university research institutions. For instance, in April 2020, to commercialize a cutting-edge cancer detection tool, researchers from the Institute for Glycomics and the University of Adelaide signed an exclusive licensing agreement with Sienna Cancer Diagnostics Ltd. These researchers have created a special protein called SubB2M, which attaches exclusively to a sugar molecule, only found in cancer cells. This protein might revolutionize the detection of cancer. In addition, in January 2022, The National Health and Medical Research Council (NHMRC) gave researchers from the Institute of Glycomics grants totaling more than US$ 1.1 billion to help them create new medicines to treat multidrug-resistant gonorrhea infections.

Thus, these advancements show that glycomics has the potential to provide rapid and accurate diagnostics methods that transcend diverse clinical indications and complex conditions. Therefore, the use in drug development for diseases across the world is a key factor driving the glycomics market.

Impact of COVID-19 Pandemic on Global Glycomics Market Growth:

The COVID-19 pandemic heavily impacted the global market in all sectors as it tested the resilience of economies and placed immense pressure on governments to take restrictive measures to prevent the spread of the infection. During the lockdown periods, the healthcare industry encountered unprecedented challenges. Manufacturing units were closed, affecting the production of medical devices and other equipment. Supply chains of medical products were disrupted, resulting in an increase in warehouse inventory of manufactured products. In addition, the pandemic altered economic conditions and social behaviors in various countries. Containment measures enforced by governments changed the healthcare service delivery pattern worldwide. According to the Department of Emergency Medicine, in many countries across North America, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.

However, the increasing presence of drug companies and research institutions to aid in drug discovery and development related to the SARS-CoV-2 virus is boosting the glycomics market in Europe. Glycomics played an important role in the development of therapeutics and profiling the virus samples, as spike protein is the key antigen in the development of COVID-19 vaccines using glycomics. Therefore, various glycomics services provided by companies to profile the COVID-19 samples fueled the market growth during the COVID-19 pandemic. Furthermore, various collaborations between companies for vital research and development are boosting the market growth. For instance, QA-Bio Inc and Ludger Ltd. partnered to provide glycoanalytical services for SARS-CoV-2 samples. These service providers have around 20 years of experience analyzing glycosylation and are well regarded in the glycobiology community. Thus, the factors mentioned above led to the growth of the glycomics market during the COVID-19 pandemic.

Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):

Glycomic Therapeutics Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Human Microbiome Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Microbiome Sequencing Services Market Forecast to 2028 - Covid-19 Impact and Global Analysis

Microbiome Drugs Market Forecast to 2028 - COVID-19 Impact and Global Analysis

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com 

Phone: +1-646-491-9876

Press Release: https://www.theinsightpartners.com/pr/global-glycomics-market