
Published On: Nov 2022
Published On: Nov 2022
At 15.5% CAGR, the North America Glycomic Therapeutics Market is projected to be worth US$ 100.79 billion by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America glycomic therapeutics market was valued at US$ 42.55 billion in 2022 and is expected to reach US$ 100.79 billion by 2028, registering an annual growth rate of 15.5% from 2022 to 2028. Wide application in various disorders followed by the development of new treatment processes and increasing research and development in the field of glycomic therapeutics are the critical factors attributed to the market expansion.
Glycan-based products have wide applications in the therapeutic industry, the products are available in different structures & forms and developed as per the application. This drug is designed for various diseases, such as thrombosis, anaemia, cancer, influenza, cataract, anti-inflammation, and various others. The glycoprotein is a type of glycan can be used to deliver drugs, toxins, or radioactive substances directly to cancer cells. Monoclonal antibodies, including erythropoietin (EPO) and Herceptin (trastuzumab), are widely used and are part of several research projects. These products are aimed at expanding and improving their applicability and efficacy. EPO has been used to treat traumatic brain injury (TBI) in young patients and Alzheimer's disease in rodent models due to its known neuroprotective effects. The largest and fastest-growing application category is drug discovery and development, mostly due to the rise in R&D by pharmaceutical and biotechnology firms and the expansion of drug discovery research activities in university research institutions. For instance, In April 2020, researchers from the Institute for Glycomics and the University of Adelaide signed an exclusive licensing agreement with Sienna Cancer Diagnostics Ltd. to commercialize a cutting-edge cancer detection tool. The researchers have created a special protein, called SubB2M, which attaches exclusively to a sugar molecule, only found in cancer cells. The protein might revolutionize the cancer detection.In March 2021, 48Hour Discovery (48HD) and CQDM announced that the firms received an award of US$ 800,000 for peptide drug development utilizing its unique drug discovery platform. The CQDM Quantum Leap initiative, which encourages research into cutting-edge technologies, methods, and platforms that speed up or expedite drug discovery and development, provided funding for the two-year study. Merck, a CQDM member, is financing the study. The University of Alberta and 48HD will work together on the project. Additionally, GlycoNet, a Network of Centres of Excellence, centred at the University of Alberta for Glycomics Research, is providing the funds to enhance Canadians' quality of life.In March 2022, researchers from the Canadian Glycomics Network (GlycoNet) developed a novel combination medication for Sanfilippo syndrome, which is showing encouraging preclinical outcomes.Researchers at Kaleido Biosciences are developing therapeutics for immune-mediated and inflammatory diseases with synthetic glycans that are selectively metabolized in the gut microbiome to suppress the growth of bacteria associated with inflammation. One synthetic glycan candidate, KB295, is intended to treat ulcerative colitis, an inflammatory bowel disorder (IBD). The administration of microbiome-mediating glycans could radically improve treatment by 16% of IBD sufferers who do not respond to the current standard of care and other patients with hard-to-treat autoimmune and inflammatory conditions. These advancements show that glycomics has the potential to provide rapid and accurate therapeutic results for complex conditions. Therefore, the use of glycomics in drug development for diseases across the region drives the glycomics therapeutics market.
On the contrary, high cost of equipment hampers market North America glycomic therapeutics market.
Key players dominating the North America glycomic therapeutics market are BioMarin PharmaceuticalInc.;GenzymeCorporation(Sanofi);HalozymeTherapeutics,Inc.;BayerAG;Alzheon,Inc.;GlycoMar;GlaxoSmithKline plc.;F. Hoffmann-La Roche Ltd.
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