The global glycomic therapeutics market is expected to grow from US$ 99,021. 46 million in 2021 to US$ 257,578. 79 million in 2028; it is estimated to grow with a CAGR of 15. 8% from 2022 to 2028.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glycomic Therapeutics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Class, Structure, Indications, and Mode of Action" - https://www.reportlinker.com/p06321041/?utm_source=GNW
The report highlights prevailing trends and factors driving the market growth.
The demand for glycomic therapeutics is attributed to a wide application of glycan-based drugs followed by the development of new treatment processes, increasing research and development in the field of glycomic therapeutics, and rising usage of glycomics-based therapeutics in various diseases leading to the development of new treatment processes.
Wide Application to Treat Various Diseases Followed by Development of New Treatment Processes
Glycan-based therapeutics have wide applications in the pharmaceutical industry; the products are available in different structures & forms and developed as per the application. It is designed for various diseases, such as thrombosis, anemia, cancer, influenza, cataract, and antiinflammation.
The glycoprotein is a type of glycan that 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 across the globeand are part of several research projects.
These products are aimed at expanding and improving their applicability and efficacy. Due to its known neuroprotective effects, EPO has been used to treat traumatic brain injury (TBI) in young patients and Alzheimer’s disease in rodent models.
The largest and fastest-growing glycomic 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 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 SubB2M, a special protein that attaches itself exclusively to a sugar molecule in cancer cells. The protein might revolutionize the area associated with 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 encourages research institutes to dive into establishing cutting-edge technologies, methods, and platforms that expedite drug discovery and development.
Merck, a CQDM member, is financing the studies.The University of Alberta and 48HD will work together on the CQDM Quantum Leap initiative project.
Additionally, GlycoNet—a Network of Centres of Excellence centered at the University of Alberta for Glycomics Research, provides the funds to enhance Canadians’ quality of life.
• In December 2021, researchers at Griffith University’s Institute for Glycomics received US$ 2.6 million in funding from the Australian Cancer Research Foundation (ACRF) to establish the ACRF International Centre for Cancer Glycomics. This has boosted their fight against cancer.
• In January 2022, the National Health and Medical Research Council (NHMRC) gave researchers from the Institute of Glycomics grants of more than US$ 1.1 million to help them create new medicines to treat multidrug-resistant gonorrhea infections.
• In March 2022, researchers from the Canadian Glycomics Network (GlycoNet) developed a novel combination medication for Sanfilippo syndrome, which is showing 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).
Further, the administration of microbiome-mediating glycans could radically improve the treatment of IBD sufferers who do not respond to the current standard of care and other patients who have autoimmune and inflammatory conditions by 16%.
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 various diseases is driving the glycomic therapeutics market.
Based on class, the glycomic therapeutics market is bifurcated into isolated and synthetic.Based on structures, the glycomic therapeutics market is segmented into glycoproteins, targeting sialic acid, proteoglycans, targeting glycosaminoglcans, glycophosphatidylinositol (GPI)-anchored proteins & heparin based glycans, targeting glycosphingolipids, and others.
Based on indication, the glycomic therapeutics market is segmented into thrombosis & chemoprophylaxis, anemia, anti-adhesive & anti-inflammatory, cataract, Gaucher’s diseases, MPS-1 & IV, cancer, Alzheimer’s disease, influenza type A & B, and others. Based on mode of action, the glycomic therapeutics market is segmented into inhibits neuraminidase; inhibits heparanase and selectins and blocks interactions between growth factors and heparan sulfate; erythropoietin & enzyme replacement therapy (ERT); tissue plasminogen activator; inhibits glucosylceramide synthase; interleukin 1, 2 & 3; beta & gamma interferons; and others.
Impact of COVID-19 Pandemic on Glycomic Therapeutics Market
The overall impact of the COVID-19 pandemic on the European glycomic therapeutics market was mixed, and the market regained traction and is expected to grow in the coming years. Pharmaceutical and biotechnology companies invested a huge amount in producing several pipeline products that can effectively combat the spread of SARS-CoV-2.
The onset of the COVID-19 pandemic positively impacted the glycomic therapeutics market.Pharmaceutical and biotechnology companies invested a huge amount in producing several pipeline products that can effectively combat the spread of SARS-CoV-2.
Moreover, during the pandemic, the demand for the development of new drugs and vaccines increased to tackle COVID-19 in patients suffering from several other diseases.The increased number of researches led to high utilization of technology instead of human resource to prevent the spread of SARS-CoV-2.
Furthermore, governments of Asia Pacific countries organized programs and open challenge events for researchers to develop innovative drugs for the treatment of COVID-19. Such events increased the overall number of research on COVID-19 owing to increased government funding.
. Thus, the above-mentioned factors indicate the overall positive impact on the glycomic therapeutics market during the forecast period.
Although elective surgeries resumed in the UK and many other countries in mid-2020, most hospitals were functioning at considerably reduced capacity, which translates to an ever-growing waitlist.As of September 2020, ~140,000 patients in England alone had been waiting more than a year for their surgeries—100 times the number in 2019.
And with a new, highly transmissible variant of SARS-CoV-2 circulating in the UK that has resulted in a third national lockdown and further appointment cancellations, patients are now facing longer waits.Further, according to the National Library of Medicine, the decline in COVID-19 cases after the third wave of the COVID-19 pandemic grew to 51% for ophthalmic procedures, 68% for pain procedures, and 49% for orthopedic procedures.
The number of electoral processes conducted increased in the EU but was still below pre-pandemic standards.In contrast, during the COVID-19 pandemic, a generic trend toward reduced numbers of nonelective, emergency neurosurgical cases in countries such as Austria, Switzerland, and the Czech Republic was observed.
This was majorly driven by a decreased incidence of conditions commonly associated with traumatic aetiologies, including brain injuries, spine conditions, and chronic subdural hematomas. Despite the challenges of delivering health services and intensive care during the COVID-19 pandemic, data indicated that emergency care could still be provided in these countries.
Various organic and inorganic strategies are adopted by companies operating in the global glycomic therapeutics market.The organic strategies mainly include product launches and product approvals.
Further, inorganic growth strategies witnessed in the market are acquisitions, collaborations, and partnerships.These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth.
Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few significant developments by key players operating in the global glycomic therapeutics market are listed below.
• In May 2022, Halozyme Therapeutics announced the completion of its acquisition of Antares Pharma, Inc., with an aim to create specialty products.
• In March 2022, Halozyme Therapeutics announced a global collaboration and license agreement with Chugai Pharmaceutical Co., Ltd. that gave exclusive access to Halozyme’s ENHANZE drug delivery technology, a recombinant human hyaluronidase PH20 enzyme (rHuPH20), for an undisclosed target.
A few major primary and secondary sources that were considered while preparing the report on the global glycomic therapeutics market are the American Medical Association, the British Journal of Surgery, and the National Library of Medicine.
Read the full report: https://www.reportlinker.com/p06321041/?utm_source=GNW
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