Technological advancements, rise in prevalence of cancer, and increase in genome mapping programs and number of R&D activities drive the growth of the global epigenetics market.
As per the report, the 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.
Epigenetics is an area of developmental biology that involves study of cellular and physiological trait variations initiated by external or ecological aspects. This external stimulus turns genes “on” and “off” and affects ability of cells to read genes. Epigenetics changes an organisms’ phenotype rather than genotype, wherein the underlying DNA or RNA sequence remains unchanged. For instance, DNA methylation and histone modification are epigenetic processes wherein the alteration in gene expression is observed without change in the DNA sequence. Increase in use and application of epigenetics to formulate drugs to treat different oncology and non-oncology-related diseases is expected to boost the epigenetics market growth.
The kits segment held the lion’s share
By product, the kits segment held the largest share in 2019, accounting for nearly two-fifths of the global epigenetics market, owing to increase in the aging population, rise in incidences of chronic diseases, and growth in adoption of epigenetic procedures. However, the instruments segment is expected to register the highest CAGR of 15.5% during the forecast period, due to surge in research, innovation, & development across different laboratory settings.
Rise in cancer prevalence; increase in funding & aids for R&D activities; rise in partnership between academic, pharmaceutical, & biotechnology companies for epigenetics studies; and increase in application of epigenetics in non-oncology diseases majorly drives the market growth. However, high cost of instruments and lack of trained professionals are factors that impede the epigenetics market growth. Furthermore, growth opportunities in emerging markets provide lucrative opportunities to the market players.
Major market players
- Abcam Plc.
- Agilent Technologies, Inc.
- Active Motif, Inc.
- Illumina Inc.
- Diagenode, PerkinElmer, Inc.
- Merck Millipore
- Thermo Fisher Scientific Inc.
- QIAGEN N.V.
- Zymo Research
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