The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, April 18, 2023 /PRNewswire/ -- As per The Business Research Company's Glycomics Or Glycobiology Global Market Report 2023, the global glycomics or glycobiology market size is expected to grow from $1.3 billion in 2022 to $1.6 billion in 2023 at a compound annual growth rate (CAGR) of more than 15%. The glycomics or glycobiology market is expected to reach $2.8 billion in 2027 at a CAGR of more than 15%. The increase in the demand for medicines for the treatment of several severe chronic diseases is expected to propel the growth of the glycomics or glycobiology market going forward.
North America was the largest region in the glycomics or glycobiology market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major glycomics or glycobiology market players include Water Corporation, Aligent Technologies, Bruker Corporation, Merck KgaA, New England Biolabs, Danaher Corporation, Shimadzu Corporation, ProZyme Inc., Takara Bio, S-BIO, Asparia Glycomics S.L, Lectenz Bio, Chemily Glycoscience, Z Biotech LLC, and RayBiotech.
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Investments in research and development activities are gaining popularity in glycomics or glycobiology market trends. Major research and development institutions are funding in research centers for glycobiology aiming for the research and development of Glycomics or Glycobiology. For instance, in August 2022, Griffith University, an Australia-based Institute for Glycomics, launched the ACRF International Centre for Cancer Glycomics with a $2.6 million ACRF grant, that is dedicated to achieving cancer glyco-code. This is a unique facility, with a better understanding of the glyco-code that lead to the translation of novel discoveries and clinical outcomes that would help cancer patients improve their lives.
In addition, major players in the glycomics or glycobiology market are focusing on strategic acquisitions and collaborations. In January 2021, Neogen, a US-based food safety company providing testing solutions for the food industry, acquired Megazyme for an undisclosed amount. Through this acquisition, Neogen gained a Megazyme product line that would help strengthen its business relationships with major food producers and companies. Megazyme is an Ireland-based developer, and manufacturer of analytical solutions, including glycobiology enzyme products.
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The glycomics or glycobiology market report describes and explains the glycomics or glycobiology market and covers 2017 to 2022, termed the historic period, and 2022 to 2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region. The regions covered in the glycomics or glycobiology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major products of glycomics or glycobiology market are enzymes, kits, reagents and chemicals, instruments, and carbohydrates. Enzymes refer to biological polymers that catalyze biochemical reactions. These are used in various applications such as drug discovery and development, disease diagnostics, and others, and these are used in academic research institutes, pharmaceutical, and biotechnology companies and clinical laboratories.
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