Press release
The Glycobiology Market to see digitized data collection at a CAGR of 15.5%
Glycobiology is a rapidly growing field of biology that studies the role of carbohydrates (also known as glycans) in various biological processes. The glycobiology market has witnessed significant growth in recent years, driven by the increasing demand for novel therapeutics and diagnostics for a wide range of diseases.
Extensive research related to carbohydrate molecules in various fields such as marine science and food & beverages is expected to fuel the growth of the global glycobiology market over the period of 2020 to 2030. With most stakeholders present in North America, the market in the region will hold sway throughout the forecast period.
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The global glycobiology market is expected to expand at an impressive CAGR of nearly 13% from 2020 to 2030, and reach a valuation of around US$ 3.5 Bn by the end of 2030, according to a new report by Persistence Market Research (PMR).
Company Profiles:
Merck KGaA
Bio-Techne Corporation
User Corporation
Thermo Fisher Scientific, Inc.
Shimadzu Corporation
ProZyme Inc.
NEB Inc.
Agilent Technologies
New England Biolabs
Takara Bio
Waters Corporation
Danaher Corporation
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Key Takeaways from Glycobiology Market Study
On the basis of product, the enzymes segment is expected to dominate the market through the forecast period, and is anticipated to be the most lucrative segment. Due to high adoption of enzymes to conduct various research initiatives, this segment is expected to witness high incremental opportunity, globally.
On the basis of application, the drug discovery and development segment is expected to dominate the market, and is anticipated to be the most lucrative segment over the forecast period.
On the basis of end user, the biopharmaceutical companies segment is expected to account for the highest revenue share in the global glycobiology market, and is expected to witness the fastest growth over the forecast period. Factors such as increasing demand for novel drug development, especially for chronic diseases such as cancer and diabetes, are expected to boost revenue share contribution from biopharmaceutical companies. Research laboratories are also expected to register significant growth during the forecast period.
North America will lead the growth of the global glycobiology market through 2030, followed by the market in Europe.
"Due to the COVID-19 pandemic, industrial and academic research related to cancer and diabetes has slowed down, which will slow down the growth of the glycobiology market to some extent in the near term," says a PMR analyst.
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