Glycobiology is the pursuit to decipher the information communicated by carbohydrate molecules – the carbohydrate code or glycocode. Glycans or carbohydrates are one of the fundamental classes of macromolecules present in biological systems, and are formed by individual sugar units called monosaccharides linked to each other in multiple ways. Glycans are involved in every aspect of biochemistry of life in a way that proteins and peptides cannot be evaluated without understanding science that deals with the study of synthesis, structural elucidation, functional property identification, and mechanism of interaction of glycans with biological molecules such as lipids and proteins.
Glycobiology Market: Revenue Growth Expected to be Driven by Extensive Research to Study Carbohydrate Molecule Over the Forecast Period, 2016–2024
Chronic diseases such as cancer and diabetes have become a major reason for increasing research in the field of drug development, which is leading to increasing R&D expenditure by pharmaceutical companies, thus boosting revenue growth of the global glycobiology market. Increasing funding through government bodies is expected to boost revenue growth of the market over the forecast period. Factors such as continuous technological advancements, availability of products to conduct protocol with high specificity and sensitivity is expected to boost revenue growth of the global glycobiology market. However, factors such as high product cost and low availability of skilled professionals is expected to hamper revenue growth of the global glycobiology market.
On the basis of product type, PMR has segmented the glycobiology market into instruments, enzymes, consumables, and reagent kits. Enzymes product type segment is expected to dominate the market through the forecast period and is anticipated to be the most lucrative segment. Due to high adoption rate of enzymes to conduct various research, this segment is expected to witness high incremental opportunity globally.
On the basis of end user, the glycobiology market has been segmented into biopharmaceutical companies, research laboratories, hospitals, diagnostic centers, contract research organization, biotechnology industry, academic institutes, and others. PMR estimates that biopharmaceutical companies segment is expected to account for the highest revenue share in end user segment of the global glycobiology market and is expected to witness fastest growth over the forecast period. Factors such as increasing demand for novel drug development, especially for chronic diseases such as cancer and diabetes, is expected to boost revenue share of the biopharmaceutical companies segment. Research laboratories segment is also expected to register a significant growth rate during the forecast period.
By region, the global glycobiology market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). The U.S. is expected to remain dominant market for glycobiology in the North America glycobiology market; whereas APAC region is expected to witness highest growth majorly due to increasing number of research initiatives being conducted in countries such as Japan and China.
Some key market participants included in the report include Merck KGaA, Bio-Techne Corporation, Bruker Corporation, Thermo Fisher Scientific, Inc., Shimadzu Corporation, Plexera Bioscience LLC, New England Biolabs Inc., Agilent Technologies, Inc., and ProZyme, Inc.