(PharmaNewsWire.Com, August 23, 2018 ) Glycobiology Market was worth USD 832.93 million in 2018 and estimated to be growing at a CAGR of 13.2%, to reach USD 1548.25 billion by 2023. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the medical industry.
Glycobiology is the study of the structure, function and biology of carbohydrates, also known as glycans, which are distributed in nature. It is a tiny but quickly growing field in biology, with importance to biomedicine, biotechnology and basic research.
Advancements in glycomics instruments technology are expected to be a major factor driving the market growth. Moreover, growing investments on research & development by government along with rising focus of pharmaceutical and biotechnology companies on novel drug development are the major factors that are driving the growth of the Glycobiology market.
The Global Glycobiology Market is segmented based on Product into Enzymes, Instruments and Kits & Reagents. Based on Application, the market is segmented into Diagnostic, Drug Discovery, and Oncology.
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. The Global Glycobiology Market was dominated by North America, with the largest market share globally and was followed by Europe. The Asia Pacific is predicted to show the highest CAGR during the forecasting period.
Some of the major companies dominating the market, by their products are 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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