World News: 11:24 GMT Friday 9th November 2018. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Nov. 09, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering. The global glycomics/glycobiology market size is expected to reach USD 2.1 billion by 2025 and is anticipated to expand at a CAGR of 14.4% over the forecast period. Rising focus on glycomics and proteomics research is driving the market. Huge investments have also enabled academic researchers to develop new glycobiology tools. This is a high-impact rendering driver for the market. As per many researchers, study on glycans helps understand biological processes more comprehensively, without specializing in glycobiology.According to the 2017 BDO Biotech Briefing, the average R&D expenditure of mid-sized biotech companies has increased by around 18% from USD 65.9 million to USD 80.6 million during the span of 2015 to 2016. Growing drug discovery and development are leading to an increase in R&D investments by biotech companies. Thus, the need for glycomics research techniques to conduct comprehensive glycomes study is constantly growing.Rise in number of initiatives being undertaken by the government to increase funding for research has led to the high need for glycomics techniques. For instance, the Australian government invested around USD 10 billion in scientific research and innovations for the period 2016 to 2017. The Irish Government also announced a USD 5.6 billion spending program in 2015 aimed at increasing the number of scientific research activities from 25,000 to 40,000 in the next 5 years. Such funding initiatives are expected to enhance demand for glycomics research techniques in near future.Key players are also undertaking extensive R&D initiatives to develop new and technologically advanced products. For instance, in 2016, ProZyme, Inc. launched Gly-Q Glycan Analysis System, an integrated platform that enables user-friendly and high-throughput glycoanalysis. In 2018, Shimadzu Corporation collaborated with PREMIER Biosoft, a global player in bioinformatics solutions, with an aim to introduce its LCMS-9030 Quadrupole Time of Flight (Q-TOF) mass spectrometry system for advance glycomics and lipidomics data research analysis.
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Related Topics: Biotechnology
Globe Newswire: 11:24 GMT Friday 9th November 2018
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