There is Increase in Funding for Proteomics and Glycomics Research, Growing R&D Expenditure

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 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.

The global glycomics 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%.

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The key players in the glycomics 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.).

Glycomics Market, by End User

•Academic Research Institutes
•Pharmaceutical & Biotechnology Companies
•Contract Research Organizations

Glycomics Market, by Application

•Diagnostics•Drug Discovery & Development
•Oncology
•Immunology
•Other Application

The global glycomics market was dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Over the next five years, the growth of the glycobiology market in the Asian region is likely to be centered on China, India, and Japan.