The growth of this market is majorly driven by the increasing R&D expenditure and funding for proteomics and glycomics research, growth of the proteomics market, and technological advancements in glycomics instrumentation are the major factors driving the growth of the glycomics market.
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The report “Glycomics / Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (Mass Spectrometry, Chromatography), Carbohydrates, Reagents & Chemicals), Application (Disease Diagnostics), End-User (Academic) -Global Forecasts to 2025” The global glycomics market is projected to reach USD 2.0 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 13.8% from 2020 to 2025.
The market is categorized into five product segments, namely, enzymes, instruments, kits, carbohydrates, and reagents & chemicals. The enzymes segment is expected to dominate the market in 2020 and is projected to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the consumable nature of enzymes and their wide applications in a variety of R&D and drug discovery procedures.
Based on application, the glycomics market is segmented into drug discovery & development, disease diagnostics, and other applications. Drug discovery & development is the largest and the fastest-growing application segment in the market, majorly due to the increasing R&D investments in pharmaceutical and biotechnology companies and the growing number of drug discovery research activities in academic research institutes.
North America is the largest regional market for glycomics products
The global glycomics market is segmented into North America (US and Canada), Europe (Germany, the UK, France, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, Australia, and the Rest of Asia Pacific), and the Rest of the World (Latin America and the Middle East and Africa). In 2020, North America is expected to dominate the global glycomics market, followed by Europe. The largest share of North America is mainly attributed to increasing funding on glycomics research, rising R&D expenditure for drug discovery & development, and the presence of all key players.
The prominent players operating in the glycomics market include Merck KGaA (Germany), Agilent Technologies (US), Thermo Fisher Scientific (US), New England Biolabs (US), Shimadzu Corporation (Japan), Takara Bio (Japan), S-BIO (subsidiary of Sumitomo Bakelite Co. Ltd., Japan), Waters Corporation (US), Asparia Glycomics S.L. (Spain), Bio-Techne (US), Bruker Corporation (US), Danaher Corporation (US), RayBiotech (US), Z Biotech (US), Chemily Glycoscience (US), Dextra Laboratories (UK), Lectenz Bio (US), and Ludger Ltd. (UK).
Merck KGaA the leading player in the glycomics market, with the largest share in 2018. In the glycomics market, the company offers various products, including kits, enzymes, carbohydrates, and reagents & chemicals. Substantial business operations across all key regions, coupled with a strong brand image, make the company a leading player in this market.
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