Global epigenetics industry was pegged at $771.9 million in 2019, and is projected to reach $2.16 billion by 2027, growing at a CAGR of 13.6% from 2020 to 2027.
growth in R&D activities and technological advancements majorly drive the market growth. Furthermore, increase in awareness of epigenetics in emerging countries, rise in incidences of cancer, and increase in partnership between academic, pharmaceutical, and biotechnology companies across the globe further contributes toward growth of the epigenetics market.
High-end technological advancements associated with epigenetics, rise in incidences of cancer, surge in genome mapping programs, and growing number of R&D activities drive the global epigenetics market. On the other hand, standardization concerns over epigenetics-based diagnostics and dearth of skilled professionals impede the growth to some extent. However, several growth opportunities in the emerging economies have created an array of lucrative prospects for the key players in the industry.
North America dominated the market
By region, the market across North America held the lion’s share in 2019, accounting for nearly two-fifths of the market, due to significant developments in biotechnology through epigenetics products, rise in investments, and increase in partnerships & collaborations among key players. However, the global epigenetics market across LAMEA is projected to portray the highest CAGR of 15.5% during the forecast period.
The key market players analyzed in the global epigenetics market report include Active Motif, Inc., Agilent Technologies, Inc., Zymo Research, Abcam Plc., Diagenode, Illumina Inc., QIAGEN N.V., Merck Millipore, PerkinElmer, Inc., and Thermo Fisher Scientific Inc. These players have adhered to a number of strategies including partnership, expansion, collaboration, joint ventures, and others to showcase their flair in the industry.
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Epigenetics Market to Garner $2.16 Bn, Globally, by 2027 at 13.6% CAGR, Says Allied Market Research
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