Lectins (Carbohydrate Binding Proteins) Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global lectins (carbohydrate binding proteins) market is anticipated to grow at a CAGR of 7.2% during the forecast period (2022-2028). The market growth is attributed to an increase in the prevalence and diagnosis of cancer around the globe, as well as an increase in R&D activities for the commercialization of new products and increased awareness of the benefits of diagnostic testing among patients and physicians. Furthermore, technical developments in cell culture, as well as an increasing number of research studies on carbohydrate biomarkers, are expected to drive the global carbohydrate binding proteins market growth throughout the forecast period.

Growing demand from emerging markets such as China, India, and others can be attributed to factors such as an increase in the number of research and development activities by leading players, technological advancements in carbohydrate analysis instruments and equipment. In addition, expanding application sectors, such as the food testing industry, may help to drive market expansion in the approaching years. Carbohydrate binding proteins are widely employed in drug discovery and development in bioscience research facilities. Lectins appear to have a role in the identification of biomarkers, which can then be used in a variety of therapeutic trials. It has the potential to provide firms with superior revenue generation outcomes in medication research and development, allowing them to increase their returns on investment (ROI).

The expanding prevalence rates and higher diagnosis cases around malignant tumors are driving the utilization of lectins in biopharmaceutical companies. Furthermore, factors such as the simple availability of these proteins from various sources, as well as their wide range of applications, are propelling this market forward. In addition, important drivers such as an increase in the number of research projects are driving this industry.

Lectins (carbohydrate binding proteins) are enzymes that bind carbs. The majority of these enzymes are involved in digestion and metabolism in humans. They aid in the breakdown of complex carbs into simple sugars, which human systems then use for energy or store in fat cells for later use. Lectins, are suspected to play a role in a variety of disorders, including diabetes and asthma.

North America region is anticipated to dominate globally in the carbohydrate binding proteins market during the forecast period, growth is likely to be fueled by rapid technology improvements and developments, as well as increased research operations by government agencies such as the National Institutes of Health (NIH), the US Department of Defense, and DARPA.

Some major players in the market include Abbexa Ltd., Biobyt Ltd., Bio-Rad Laboratories, Inc., Medicago Inc, Thermo Fisher Scientific Inc. among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, Thermo Fisher Scientific Inc. conducts research regarding imaging with lectin fluorescent conjugates.

 

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Application
  • By End-User
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Abbexa Ltd., Biobyt Ltd., Bio-Rad Laboratories, Inc., Medicago Inc, Thermo Fisher Scientific Inc. among others.

 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

 

Global Lectins (Carbohydrate Binding Proteins) Market Report by Segment

By Application

• Cell Tracing & Tracking Cellular Imaging
• Flow Cytometry

By End-User

• Biopharmaceutical Companies
• Bioscience Research Institutions