The increasing drug discovery process associated with glycosyltransferase is letting research institutes invest their resources in R&D activities. Rising innovation in research &development in the pharmaceutical and biotechnology industries, combined with the expansion in the proteomics industry, is anticipated to enhance the market growth. Several novel therapies using cutting-edge technologies are being developed for the betterment of patients.
According to Data Bridge Market Research, the Global Glycosyltransferase Market is expected to undergo a healthy CAGR from 2022 to 2029.
" Increasing Demand of Genomics and Proteomics Surge the Market Growth"
The increasing number of proteomics applications globally and the growing volume of funding for developing technology in glycomics instrumentation are altogether enhancing the market growth. Several research studies use or study the glycan part of a glycoprotein molecule which plays a major role in a protein's biochemical properties and function. Also, proteomics helps a researcher study protein modifications because of toxic treatment and, more importantly, identifies toxicant-protein adducts. Thus, this factor boosts market growth.
What restraints the growth of the Global Glycosyltransferase Market?
" High Cost of Tools Used for Usage of Glycosyltransferases"
Instability in prices of tools hinders the growth of the glycosyltransferase market. The high prices of instruments and reagents used in the process cause the price to rise. Also, a huge staff and consistent bench work are required to complete the long process as it involves constant instructions to be handled. These tools are expensive, and thus the maintenance demands a high cost. All these major factors impede the growth of the market.
Segmentation: Global Glycosyltransferase Market
The global glycosyltransferase market is segmented on the basis of product, application, and end-user.
- The glycosyltransferase market is segmented based on the product into instruments, kits, carbohydrates, reagents, and chemicals.
- Based on the application, the glycosyltransferase market is segmented into drug discovery and development, disease diagnostics, other applications
- Based on the end user, the glycosyltransferase market is segmented into academic research institutes, pharmaceutical and biotechnology companies, and clinical laboratories.
Regional Insights: North America is expected to dominate the Global Glycosyltransferase Market
North America dominates the market due to the growing number of research and development activities along with the incidence of numerous market players in the region. Furthermore, the wide presence of many research laboratories and pharmaceutical and biotechnology companies in the region is also boosting the market growth in this region.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 due to the huge expansion of the healthcare sector, increasing rate of patients, and inexpensive clinical trials. Also, the increasing number of mergers and acquisitions between market players and several new service developments is helping expand the market growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-glycosyltransferase-market
Recent Developments in Global Glycosyltransferase Market
- In 2020, according to Helix, the Helix COVID-19 NGS Test received Emergency Use Authorization from the U.S. Food and Drug Administration (U.S. FDA). The test is an amplicon-based next-generation sequencing test designed to detect nucleic acid from SARS-CoV-2 suspects qualitatively. These product approvals are most likely to impact the market under investigation greatly.
The Prominent Key Players Operating in the Global Glycosyltransferase Market Include:
- Merck KGaA (Germany)
- Thermo Fisher Scientific Inc. (U.S.)
- New England Biolabs (U.S.)
- Agilent Technologies, Inc. (U.S.)
- Bio-Techne (U.S.)
- Shimadzu Corporation (Japan)
- Bruker (U.S.)
- Chemily Glycoscience (U.S.)
- Dextra Laboratories Limited (U.K.)
- Ludger Ltd (U.K.)
- Promega Corporation (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global glycosyltransferase market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Glycosyltransferase Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
