GLOBAL GLYCOBIOLOGY MARKET SIZE STUDY, BY PRODUCT (ENZYMES, OTHER ENZYMES, INSTRUMENTS KITS, CARBOHYDRATES, REAGENTS & CHEMICALS), BY APPLICATION (DRUG DISCOVERY & DEVELOPMENT, DISEASE DIAGNOSTICS, OTHER APPLICATIONS), BY END-USER ( ACADEMIC RESEARCH INSTITUTES, PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES, CLINICAL LABORATORIES) AND REGIONAL FORECASTS 2020-2027
According to a new report by Report Ocean, the global glycobiology market will be rising at a healthy CAGR of 14.64% between 2020 and 2027, registering a remarkable rise. The report, titled "Global Glycobiology Market Size study, by Product (Enzymes, Other Enzymes, Instruments, Kits, Carbohydrates, Reagents & Chemicals), by Application (Drug Discovery & Development, Disease Diagnostics, Other Applications), by End-user (Academic Research Institutes, Pharmaceutical and Biotechnology Companies, Clinical Laboratories) and Regional Forecasts 2020-2027," further states that the market stood at US$1.4 bn in 2019.
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The main driving force behind the growth of the global glycobiology market is the increase in the funding for glycomics and proteomics studies. The rising investments for R&D for technological advancements in the glycomics instrumentation are also supporting the growth of this market significantly. Over the coming years, the expansion of pharmaceutical and the biotechnology industries are expected to create lucrative opportunity for this market. However, presence of stringent regulatory frameworks and the high degree of consolidation in the market may hinder the market from rising properly in the near future.
Presence of Large Pool of Players to Maintain Competition in Global Market
The presence of a large pool of participants points towards a highly fragmented and competitive business landscape in the global glyocobiology market. Merck KGaA, Agilent Technologies, Thermo Fisher Scientific, New England Biolabs, Shimadzu Corporation, Takara Bio, S-BIO, Waters Corporation, Asparia Glycomics S.L., and Bio-Techne are some of the leading suppliers of glycobiology products across the world. These market participants have been relying on high investment in R&D to remain relevant in the competition. They are also concentrating on new product launches to maintain their market value. For instance, in June 2019, Agilent Technologies rolled out Infinity Lab LC/MSD iQ Systems, while sometime earlier, Thermo Fisher Scientific (US) had launched UHMR Hybrid Quadrupole-Orbitrap Mass Spectrometer.
Key companies are also focusing on strategic partnerships to cut competition. Shimadzu Corp. entered into a partnership agreement with PREMIER Biosoft to launch LCMS-9030 Q-TOF mass spectrometry system for advance lipidomics and glycomics data processing.
North America to Continue to Dominate over Coming Years
On the basis of the region, Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa have emerged as the key segments of the worldwide glycobiology market. Among these, North America has been leading the global market. Researchers project the scenario to remain more or less the same over the forthcoming years, thanks to the presence of key pharmaceutical and biopharmaceutical companies in the region. Asia Pacific is also expected to report significant growth on the back of emerging pharmaceutical and biopharmaceutical industries and heightened investments by CROs in this region over the next few years, states the research report.
Impact of COVID 19 on Global Glycobiology Market
The global economic slowdown due to the COVID pandemic is also reflected on the worldwide glycobiology market. The investments in R&D have decreased, which is hampering the growth of this market. However, the momentum in this market is likely to return as the economy begins to recover.
Key Findings: *The drug discovery and development application segment is expected to register a high growth in the coming years. *North America emerged as the dominant regional market and is anticipated to retain its position in the near future. *The high number of players is expected to maintain the competition.
The Global Glycobiology Market is segmented into:
By Product *Enzymes *Other Enzymes *Instruments *Kits *Carbohydrates *Reagents & Chemicals
By Application * Drug Discovery & Development * Disease Diagnostics * Other Applications
By End User * Academic Research Institutes * Pharmaceutical and Biotechnology Companies * Clinical Laboratories
By Region *North America *Europe *Asia Pacific *Latin America *Rest of the World
Companies Mentioned in the Report *Merck KGaA *Agilent Technologies *Thermo Fisher Scientific *New England Biolabs *Shimadzu Corporation *Takara Bio *S-BIO *Waters Corporation *Asparia Glycomics S.L. *Bio-Techne
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