2024-2033 Glycomics or Glycobiology Market Outlook: Unlocking Growth Potential
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What is the Anticipated CAGR of the Glycomics or Glycobiology Market Over the 2024-2033 Forecast Period?
The market size of glycomics or glycobiology has seen rapid expansion in the recent past. The market worth will surge from $1.59 billion in 2023 to $1.84 billion in 2024, displaying a compound annual growth rate (CAGR) of 15.6%. This substantial growth observed in the historic period can be accredited to the heightened awareness concerning glycans in biological systems, the expansion of databases and resources associated with glycan, an increase in joint research initiatives, advancements in glycan synthesis and engineering, and the identification of glycan biomarkers.
The market size for glycomics or glycobiology is projected to experience quick expansion in the coming years. The market value is forecasted to reach $3.38 billion by 2028, growing at a compound annual growth rate (CAGR) of 16.4%. The anticipated growth in the forecast period might be due to factors including the use of artificial intelligence (ai) and data analytics concentrating on glycan, the surge in drug development founded on glycobiology, the inclusion of glycomics in discovering disease biomarkers, and the creation of personalised medication and therapeutics based on glycan. The major tendencies during this forecast period involve inter-disciplinary partnerships, the patterns of glycosylation in disease processes, progressive precision medication and personalised therapies, the breakthrough in instruments for glycoanalysis, and the role of glycans in immunotherapy and vaccinations.
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What Are the Driving Forces Behind the Growth of the glycomics or glycobiology Market?
The glycomics or glycobiology market’s growth is anticipated to be fueled by the rising demand for drugs used in the treatment of various serious chronic illnesses. Chronic diseases are typically long-lasting health conditions that while manageable, are incurable. The role of glycomics research is to examine changes in glycosylation and its functions, which aids in the creation of drugs for various severe chronic diseases. For example, a 2022 scientific publication from the American Cancer Society, “Cancer Facts and Figures 2022–2024,” estimates that the number of cancer survivors (a chronic condition) will reach 22.5 million by 2032 and 26 million by 2040. Due to these factors, the growth of the glycomics or glycobiology market is driven by the increasing demand for drugs used to treat various severe chronic conditions.
What Are the Core Segments of the Glycomics or Glycobiology Market?
1) By Product: Enzymes, Kits, Reagents and Chemicals, Instruments, Carbohydrates
2) By Application: Drug Discovery and Development, Disease Diagnostics, Other Applications
3) By End-user: Academic Research Institutes, Pharmaceutical and Biotechnology Companies, Clinical Laboratories
What Are the Key Innovations Reshaping the Glycomics or Glycobiology Market?
One notable trend emerging in the glycomics or glycobiology market is the increasing investment in research and development initiatives. Prominent research and development institutions are channeling funds towards glycobiology research centers in a bid to foster advancement in the study of glycomics or glycobiology. For example, Griffith University, based in Australia, inaugurated the ACRF International Centre for Cancer Glycomics in August 2022 thanks to a $2.6 million ACRF grant. The establishment is one-of-a-kind, aimed at deepening the comprehension of glycocode, facilitating the translation of new discoveries into clinical results that could significantly enhance the lives of cancer patients.
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North America was the largest region in the glycomics or glycobiology market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glycomics or glycobiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Glycomics or Glycobiology Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the glycomics or glycobiology market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Glycomics or Glycobiology Market Include
1. Glycomics or Glycobiology Market Executive Summary
2. Glycomics or Glycobiology Market Segments
3. Glycomics or Glycobiology Market Size And Template Market Growth Rate
4. Key Glycomics or Glycobiology Market Trends
5. Major Glycomics or Glycobiology Market Drivers
……
25. Key Mergers And Acquisitions In The Glycomics or Glycobiology Market
26. Top Glycomics or Glycobiology Companies
27. Glycomics or Glycobiology Market Opportunities And Strategies
28. Glycomics or Glycobiology Market, Conclusions And Recommendations
29. Appendix
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