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| Global Epigenetics Market |
The Epigenetics Market is estimated to be valued at US$ 14.80 Bn in 2023 and is expected to exhibit a CAGR of 1.0% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Epigenetics refers to the biological modifications that alter gene expression
without changing the DNA sequence. These modifications include DNA methylation,
histone modifications and microRNA gene silencing. The epigenetics market
includes assays, kits and reagents used in DNA methylation, histone methylation
and acetylation analysis. The key application areas include oncology, metabolic
diseases and developmental biology. Epigenetics provides potential opportunity
to develop non-invasive diagnostic tools for cancer detection using blood
samples.
Market Dynamics:
Increasing prevalence of cancer and other metabolic diseases globally is a
prime driver for epigenetics market growth. According to WHO, cancer burden is
rising significantly worldwide with over 18 million new cases and 9.6 million
cancer related deaths in 2018. Early cancer detection can prevent disease
progression and improve treatment outcomes. Epigenetic modifications play an
important role in various types of cancer initiation and development. Hence
epigenetic analysis helps in accurate cancer diagnosis and monitoring treatment
response. Moreover, non-invasive epigenetic diagnostic tools enable repeat
testing over time using blood or urine samples as against tissue biopsies. This
creates higher patient acceptance and lowers healthcare costs. Additionally,
growing R&D investments by pharmaceutical companies to develop novel
targeted epigenetic drugs is also supporting epigenetics market expansion over
the forecast period.
Segment Analysis
The Global
Epigenetics Market can be segmented on the basis of product,
technology, application and end-users. By product, the market is dominated by
kits and reagents segment owing to its wide applicability across application
areas. It accounts for more than 50% of the total market share. By technology,
DNA methylation segment dominates the market owing to its low cost and
widespread adoption among research labs. In terms of application, oncology
segment dominates as epigenetic modifications play a major role in cancer
development and progression.
Pest Analysis
Political: Heavy investments by governments and private players in R&D for
epigenetic applications is supporting market growth. Recent policy reforms in
the US and Europe also favor market growth.
Economic: Rising healthcare expenditure in developing nations offer market
opportunities. However, high costs of epigenetic products can restrain market
growth.
Social: Improving awareness about personalized medicine and epigenetic role in
diseases drive market demand. Customers prefer non-invasive diagnostic tests.
Technological: Developments in sequencing technologies, bioinformatics and
omics have enabled high-throughput epigenetic analysis driving market growth.
Advancements in epigenetic-based therapeutic approaches will further support
market.
Key Takeaways
The global Epigenetics market size is expected to witness high growth,
exhibiting a CAGR of 1.0% over the
forecast period of 2023 to 2030, due to increasing R&D investments and
advancements in sequencing technologies. The market size is estimated to reach
US$ 14.8 Bn by 2023.
On the regional front, North America holds the largest market share currently
owing to strong presence of key players and availability of funds for research.
Asia Pacific is poised to exhibit highest CAGR during the forecast period
supported by improving healthcare infrastructure, rising disposable incomes in
countries like China and India and growing collaborations of domestic players
with global firms.
Key players operating in the Epigenetics market are Active Motif, Inc., Zymo
Research, Thermo Fisher Scientific Inc., QIAGEN N.V., Merck Millipore, Illumina
Inc., Agilent Technologies, Inc., Abcam Plc., Hologic Inc., PerkinElmer, Inc.
These companies focus on developing innovative epigenetic products like kits
and reagents along with bioinformatics tools for high throughput data analysis.
They also adopt strategies like acquisitions and collaborations with research
institutes to expand market share.
Read More: https://www.rapidwebwire.com/epigenetics-market-growth-and-analysis/