Emerging Economies in Asia Will Offer Growth Opportunities for Players in the Glycomics/Glycobiology Market

The glycomics/glycobiology market across the globe is witnessing high growth. Factors such as increasing government and private funding for glycomics and proteomics research and growing R&D expenditure by pharmaceutical and biotechnology companies are the key drivers for the growth of this market.
The global glycomics/glycobiology market is poised to reach USD 1,211.4 million by 2021 from USD 649.5 million in 2016, at a CAGR of 13.3%. Factors such as increasing government and private funding for glycomics and proteomics research and growing R&D expenditure by pharmaceutical and biotechnology companies are the key drivers for the growth of the market. Whereas, the high degree of consolidation is expected to restrict the entry of new players in the market, and thereby hinder its growth.
On the other hand, high degree of consolidation hinders entry of new players to the market and stringent regulatory frameworks and time-consuming approval processes are restraining the growth of this market. With this view, companies are focusing on product launches, agreements, expansions, and acquisitions to attain a leadership position in the market.
On the basis of product, the market is segmented into enzymes, instruments, kits, and reagents. The enzymes segment is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to their consumable nature and wide applications in a variety of R&D and drug discovery procedures. The enzymes segment is further divided into glycosidases, glycosyltransferases, neuraminidases, sialyltransferases, and other enzymes.
On the basis of region, the market is segmented into North America, Asia, Europe, and RoW. The Asian market is estimated to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing commercialization of R&D by pharmaceutical and biotechnology companies, growing demand for personalized medicine, and rising importance of companion diagnostics.
In the coming five years, growth in the glycomics/glycobiology market is likely to be centered in the Asian region. This growth can be attributed to factors such as increasing commercialization of pharmaceutical and biotechnology research, increasing awareness about personalized medicine, and rising importance of companion diagnostics.
The key players in the glycobiology market include Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), New England Biolabs (U.S.), ProZyme, Inc. (U.S.), Shimadzu Corporation (Japan), Merck KGaA (Germany), Takara Bio, Inc. (Japan), Thermo Fisher Scientific (U.S.), and Waters Corporation (U.S.).
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