The global market size for Glycomics Glycobiology Instruments was USD 2.26 billion in 2022, with a projected CAGR of 13% during the forecast period. The increasing prevalence of chronic diseases, rising RD expenditure in the field of glycomics, and the need for personalized treatment are the key drivers of market growth.
The scientific field of glycomics or glycobiology involves the study of saccharides, which are present extensively in nature and have significant involvement in various biological processes. The applications of glycobiology are diverse and include areas such as diagnostics, drug discovery and development, oncology, immunology, and more.
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The rising prevalence of chronic diseases such as cancer, diabetes, and CVDs has increased interest in the study of carbohydrates and their roles in disease genesis and progression, which is another factor driving market revenue growth. Understanding the role of glycans in disease onset and progression could lead to the creation of new therapeutic targets and customized treatment.
Furthermore, the surge in RD spending in the field of glycomics is predicted to propel the growth of revenue. To develop new drugs and therapies, pharmaceutical and biotech companies are making substantial investments in glycomics research and development. The availability of advanced technologies like mass spectrometry and NMR spectroscopy has facilitated researchers to understand the molecular-level structure and function of glycans. This has enabled the identification of fresh therapeutic targets and the development of innovative medications.
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The global Glycomics Glycobiology Instruments market report features several prominent companies, including Agilent Technologies, Bruker Corporation, Danaher Corporation, New England Biolabs, Shimadzu Corporation, Thermo Fisher Scientific, Waters Corporation, and Zymo Research Corporation.
Furthermore, increasing government funding and initiatives are expected to drive market revenue growth. Governments from all around the world are spending money on glycomics RD to combat various health issues such as cancer and infectious diseases. However, high instrument and equipment costs, shortage of skilled workers, and complexity of glycan research could restrain market revenue growth.
The global Glycomics Glycobiology Instruments market is segmented by technology, application, end-use, and region. The market is driven by factors such as increasing research funding for glycobiology research, rising prevalence of cancer and other chronic diseases, demand for personalized medicine, and increasing technological advancements in glycobiology. The product types in the market include enzymes, instruments, kits, reagents, and others. Enzymes accounted for the largest revenue share in 2022, while the instruments segment is expected to register steady revenue growth rate during the forecast period. The kits segment is expected to account for a significantly large revenue share in the global Glycomics Glycobiology Instruments market during the forecast period.
In conclusion, the Glycomics Glycobiology Instruments market is expected to experience rapid revenue growth during the forecast period, driven by factors such as increasing prevalence of chronic diseases, rising RD expenditure, and increasing government funding and initiatives. However, market growth may be restrained by high equipment costs, shortage of skilled workers, and complexity of glycan research.
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