(EMAILWIRE.COM, July 28, 2018 ) 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%. 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.

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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 application, the market is segmented into diagnostics, drug discovery & development, oncology, immunology, and other applications. In 2016, the drug discovery and development segment is expected to account for the largest share of the market. This growth can be attributed to increase in R&D activities for the development of novel drugs and therapies.

On the basis of end user, the glycomics market is segmented into academic research institutes, pharmaceutical & biotechnology companies, and CROs. In 2016, the academic research institutes segment is projected to account for the largest share of the market. This growth can be attributed to the increasing government and private funding for proteomic and glycomics research.

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 2015, 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.

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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.).

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