Global Glycobiology Market Value to Grow at Double Digit CAGR through 2027
Glycobiology has played a major role in drug discovery and development, study the genetic code and information regarding cellular building blocks of proteins, and facilitate essential cellular processes and communication. Thanks to the recent advances in genomics, glycoproteomic, and chemical biology, scientists and researchers are learning more about the importance of glycans. Leveraging glycobiology, researchers can design cutting-edge therapeutics, diagnostics, and stem cell. In recent years, the glycobiology has grown considerably owing to increase in expenditure by different pharmaceutical and biotech companies and government agencies on research & development activities. Growing trend of personalized medicine and rising application of glycan structure in bioinformatics are some of the factors driving the growth of global glycobiology market.
North America to Dominate the Global Glycobiology Market
In 2021, North America accounted for the largest market share, owing to the presence of well-established healthcare infrastructure, large number of research laboratories, pharmaceutical, and biotechnology technologies. Currently, the United States holds approx. 81.3% of the North America glycobiology market due to rising applications of glycans in various cancers and rise in funding from governments in enhancing the field of glycobiology. Besides, growing demand for novel drugs and biotechnology products and strategic investments made by leading pharmaceutical companies to strengthen Life Sciences business segment are contributing significantly to the global glycobiology market growth. Moreover, better accessibility to refined products, increasing application of glycans, and favourable reimbursement policies introduced by the government are driving the market growth in the region.
Rise in Cancer Incidences Drives the Market Growth
Cancer is the leading cause of death across the world. Lack of efficacy of traditional cancer treatments such as chemotherapy, surgery, and radiotherapy leading to treatment failure are contributing to the global mortality rate. Majority of tumors are detected in advanced stages, which might lead to treatment failure. However, the newer processes of drug discovery such as glycoengineering of cells and high-throughput screening (HTS) are opening new avenues of drug discovery, which have the potential to overcome the limitations of existing cancer treatments. Since glycosylation is fundamental to various biological processes, alterations in glycan structures can be useful for new cancer drug discovery and methodologies that can remodel the field of cancer therapy. Rising cancer incidences around the world and increasing R&D activities in the field of cancer are some of the factors projected to boost the global glycobiology market in the coming years. Additionally, rising prevalence of chronic disorders such as diabetes, heart disorders, etc. are also attributing to the market growth.
Technological Advancements in Glycobiology
Emergence of latest technologies such as collision-induced dissociation, electron transfer dissociation, infrared multiphoton dissociation, electron capture dissociation used for structural characterization of the glycans is driving the global glycobiology market growth. These technologies are being commonly used for the analysis of the microheterogeneity that enable the determination of precise glycan structural determinants. As key market players are increasingly investing in the development of new technologies enabling glycomics analysis, the global glycobiology market is expected to grow even further. According to TechSci Research report on “Global Glycobiology Market By Product (Enzymes, Instruments, Reagents and Kits), By Application (Drug Discovery, Disease Diagnostics, Virology, Cell Biology, Oncology, Others), By End User (Research Institutes, Diagnostic Centers, Hospitals, Clinical Laboratories, Pharmaceutical & Biotechnology Companies, Others), By Region, Competition, Forecast & Opportunities, 2027”, the global glycobiology market is expected to grow at a CAGR of approx. 14% by 2027. The market growth can be attributed to the rising need for personalized medicines and increasing research activities in glycomics.
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