Market Trends of Glycomics Industry
This section covers the major market trends shaping the Glycomics Market according to our research experts:
Drug Discovery and Development Segment is Expected to Hold a Major Market Share in the Glycomics Market
- As the burden of chronic diseases is increasing, the need for developing new drugs is also increasing. Glycans play a major role in biological processes such as cell-cell interaction and thus have immense importance in drug development. Therefore, often these glycan chains are modified to synthesize drugs. For instance, hyaluronan, a naturally occurring disaccharide unit of glycosaminoglycan, has wide applications into medicine. It is used in post-surgical wounds and has an essential part in osteoarthritis treatment.
- Furthermore, glycans have wide applications in vaccine development too. Many of the conjugate vaccines are based upon proteins and glycans. For instance, Prevnar 13 (manufactured by Pfizer, Inc.) used for preventing pneumococcal bacterial infection, is based upon glycans.
- Thus, considering rising research and development, the market is expected to witness healthy CAGR over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to be a dominant region in the glycomics market owing to increasing research and development activities and government funding programs. Recently, the National Institute of Health-funded into the research 'Computational and Informatics Resources and Tools for Glycoscience Research.' Furthermore, companies are investing heavily in research and development activities, which are expected to propel the growth of glycomics. According to Pharmaceutical Research and Manufacturers of America, in 2018, the pharmaceutical industry spent over USD 79.6 billion on research and development. Thus, it is expected to impact positively on North America's glycomics market.
