Glycobiology products are widely used for analysis of cell surface markers, which can act as diagnostic or therapeutic targets. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
According to the new market research report "Glycomics / Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (HPLS, Mass Spectrometry, MALDITOF), Kits & Reagents (Glycoproteins)), Application (Diagnostic, Drug Discovery, Oncology), End User - Global Forecast to 2021", published by MarketsandMarkets™, The global glycobiology market is expected to reach USD 1,211.4 million by 2021 from USD 649.5 million in 2016, at a CAGR of 13.3%.
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On the basis of product, the glycobiology market is segmented into enzymes, instruments, kits, and reagents.
The enzymes segment is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to their consumable nature and wide applications in a variety of R&D and drug discovery procedures. The enzymes segment is further divided into glycosidases, glycosyltransferases, neuraminidases, sialyltransferases, and other enzymes.
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Glycomics is an important tool for analyzing target drugs and developing relevant therapeutic leads, which helps in accelerating drug development. One of the most crucial bottlenecks of the drug discovery process includes the development of the right drug for the right target. More than 90% of druggable targets belong to the class of proteins. Glycomics research is associated with proteomic processes to cater to the needs of the pharmaceutical industry for the identification of new targets to gain insights into drug actions. Glycomics also aids in the investigation of defective proteins and how they may cause particular diseases, which by extension helps in developing new drugs. The use of glycomics has increased significantly as it enables biomarker analysis, carbohydrate synthesis, glycoengineering, as well as drug and vaccine discovery and development.
Glycobiology market is segmented into North America, Asia, Europe, and RoW
The Asian market is estimated to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing commercialization of R&D by pharmaceutical and biotechnology companies, growing demand for personalized medicine, and rising importance of companion diagnostics. Over the past few years, the overall Asian region has witnessed growth in the glycomics market as North American and European pharmaceutical drug manufacturers find it cost-effective to outsource their glycomics-based work to Asian manufacturers or set up their manufacturing facilities in Asian countries.
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The key players in the glycobiology market include Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), New England Biolabs (U.S.), ProZyme, Inc. (U.S.), Shimadzu Corporation (Japan), Merck KGaA (Germany), Takara Bio, Inc. (Japan), Thermo Fisher Scientific (U.S.), and Waters Corporation (U.S.).