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Glycomics/Glycobiology Market size was over USD 1.71 billion in 2022 and is anticipated to cross USD 8.57 billion by 2035, growing at more than 13.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of glycomics/glycobiology is estimated at USD 1.89 billion.
The global market is projected to witness significant growth over the forecast period on account of escalating research & development expenditure by pharmaceutical companies coupled with an increment of chronic diseases such as cancer and diabetes. According to the World Health Organization, the global cancer burden raised to 18.1 million cases and 9.6 million deaths in 2018, and approximately 70% of deaths from cancer occur in low-income and middle-income countries. Additionally, factors such as availability of products to conduct protocol with high specificity and sensitivity, funding through government bodies, and continuous technological advancements are estimated to support the development of the market over the forecast period.
Growth Drivers
Proliferating Cancer and Diabetic Diseases To Drive the Market Growth
Increment in diseases such as cancer and diabetes are the major factor fueling the market. According to the World Health Organization, one in every 5 men and one in every 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease. Additionally, continuous technological advancements, rising research & development expenditure by pharmaceutical companies, rising funding through government bodies, and availability of products to conduct protocol with high specificity and sensitivity are anticipated to drive the market over the forecast period.
Restraints
High Production Cost Hindering the Global Market
The market is anticipated to be hindered by factors such as high production cost owing to the fluctuating prices of raw materials that are required for the manufacturing of glycomics/glycobiology, coupled with the low availability of skilled professionals that raises the overall operational expenses of the manufacturers operating in the market.
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
13.2% |
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Base Year Market Size (2023) |
USD 1.71 billion |
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Forecast Year Market Size (2036) |
USD 8.57 billion |
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Regional Scope |
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The glycomics/glycobiology market is segmented by product, by application & end-user, out of which, the enzymes segment of product sector is anticipated to hold leading shares in the market on account of consumable nature of enzymes and their wide applications in a variety of R&D and drug discovery procedures. On the contrary, the drug discovery & delivery segment of application sectors is estimated to register a robust growth to the increasing R&D investments in pharmaceutical and biotechnology companies coupled with the rising number of drug discovery research activities in academic research institutes.
Our in-depth analysis of the global market includes the following segments:
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Product |
·Enzymes
·Instruments
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By Application |
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End-User |
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Based on geographically, the glycomics/glycobiology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is expected to hold largest revenue share by 2036, attributed to increasing investments in glycomics/glycobiology research, presence of all key players, along with the rising R&D investments in pharmaceutical companies for drug discovery. On the contrary, Asia Pacific is projected to witness modest growth during the forecast period owing to untapped market opportunities. Evolving pharmaceutical and biopharmaceutical industries have resulted in the immense growth of glycomics/glycobiology in the region. Moreover, investments by Contract Research Organizations (CROs) for the development and production of drugs and biologics are expected to drive the growth of the Asia Pacific market over the forecast period.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
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