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Glycomic Therapeutics Global Market is Booming Across the Globe and Witness Huge Growth By Key Players To 2033 | The Business Research Company
Glycomic Therapeutics Global Market
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According to The Business Research Company's, The glycomic therapeutics market size has grown rapidly in recent years. It will grow from $141.31 billion in 2023 to $163.73 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to increased awareness of glycan significance, rise in chronic diseases, drug development for rare diseases, collaborations in glycomics research..
The glycomic therapeutics market size is expected to see rapid growth in the next few years. It will grow to $301.03 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to expanding knowledge of glycan biology, precision medicine approaches, rising interest in immunotherapy, increased funding for rare diseases research, emergence of glycan biomarkers.. Major trends in the forecast period include expansion of glycomic applications in oncology, glycoengineering for enhanced therapeutic proteins, inclusion of glycomics in immuno-oncology, glycomics in rare and genetic disorders, regulatory considerations for glycomic drugs..
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Market Drivers and Trends:
The increase in the prevalence of diabetes is expected to drive the growth of the glycomic therapeutics market. Diabetes is a chronic medical condition that affects the body's ability to regulate blood sugar (glucose) levels. In diabetes, alterations in glycans have been observed, which can contribute to insulin resistance and other metabolic abnormalities. Specific glycan patterns serve as biomarkers for diagnosing diabetes, predicting its progression, and monitoring treatment responses. For instance, in May 2023, according to the report published by the National Center for Health Statistics, a U.S.-based government agency that provides statistical information to guide actions and policies to improve the public health of the American people, the percentage of diagnosed diabetes for adults aged 18 and over, United States increased from 9.3% in 2020 to 9.6% in 2021. Therefore, the increase in the prevalence of diabetes is driving the growth of the glycomic therapeutics market.
Product innovation is a key trend gaining popularity in the glycomic therapeutics market. Major companies operating in the glycomic therapeutics sector are focused on developing new technological and innovative solutions to strengthen their position in the market. For instance, in April 2022, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company is discovering advanced therapies, launched a novel fixed-dose combination (FDC) of a DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor), Teneligliptin, with Pioglitazone to improve glycemic control and to reduce insulin resistance in type 2 diabetes patients.
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Major Key Players of the Market:
F Hoffmann-La Roche Ltd., Bayer AG, Sanofi SA, Thermo Fisher Scientific Inc., GlaxoSmithKline plc, Merck KGaA, ICON plc, Agilent Technologies Inc., AMS Bio, Shimadzu Corporation, Waters Corporation, Bruker Corporation, BioMarin Pharmaceutical Inc., Bio Techne Corp., Promega Corporation, Halozyme Therapeutics Inc., Takara Bio Inc., Vector Laboratories, New England Biolabs Inc., Protalix Biotherapeutics Inc., Genovis AB, Ray Biotech Life Inc., IEC Group, Ludger Ltd, Z Biotech LLC, Alzheon Inc., GlycoMar Limited
Glycomic Therapeutics Market 2024 Key Insights:
• The glycomic therapeutics market size is expected to see rapid growth in the next few years. It will grow to $301.03 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
• Rising Diabetes Prevalence Fuels Growth In The Glycomic Therapeutics Market
• Innovations In The Glycomic Therapeutics Market
• North America was the largest region in the glycomic therapeutics in 2023
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