NEW YORK, Sept. 1, 2020 /PRNewswire/ -- Extensive research related to carbohydrate molecules I n various fields such as marine science and food & beverages is expected to fuel the growth of the global glycobiology market over the period of 2020 to 2030. With most stakeholders present in North America, the market in the region will hold sway throughout the forecast period.
The Global Glycobiology Market is Expected To Expand At An Impressive CAGR Of Nearly 13% From 2020 To 2030, And Reach A Valuation Of Around US$ 3.5 Bn By The End Of 2030, according to a new report by Persistence Market Research (PMR).
Key Takeaways from Glycobiology Market Study
- On the basis of product, the enzymes segment is expected to dominate the market through the forecast period, and is anticipated to be the most lucrative segment. Due to high adoption of enzymes to conduct various research initiatives, this segment is expected to witness high incremental opportunity, globally.
- On the basis of application, the drug discovery and development segment is expected to dominate the market, and is anticipated to be the most lucrative segment over the forecast period.
- On the basis of end user, the biopharmaceutical companies segment is expected to account for the highest revenue share in the global glycobiology market, and is expected to witness the fastest growth over the forecast period. Factors such as increasing demand for novel drug development, especially for chronic diseases such as cancer and diabetes, are expected to boost revenue share contribution from biopharmaceutical companies. Research laboratories are also expected to register significant growth during the forecast period.
- North America will lead the growth of the global glycobiology market through 2030, followed by the market in Europe.
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"Due to the COVID-19 pandemic, industrial and academic research related to cancer and diabetes has slowed down, which will slow down the growth of the glycobiology market to some extent in the near term," says a PMR analyst.
Glycobiology Market: Competition Landscape
Some of the key market participants in the glycobiology market included in PMR's 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.
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What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the glycobiology market in its latest study, presenting historical demand assessment of 2015–2019 and projections for the years 2020–2030. Research of this report has been done based on segmentation into product (instruments, enzymes, consumables, and reagent kits), enzyme (galactosidases, glcnac transferases, and others), application (drug discovery and development, diagnostic applications, industrial applications, therapeutic applications, and others), and end user (biopharmaceutical companies, research laboratories, hospitals, diagnostic centers, contract research organizations, biotechnology industries, academic institutes, and others), across seven key regions of the world.
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