(PharmaNewsWire.Com, April 08, 2020 ) The growth in epigenetics market is primarily attributed to decreasing sequencing costs, increasing research activity, funding for epigenetics research, rising prevalence of cancer and growing applications of epigenetics in non-oncology diseases. Expanding application areas of epigenetics in non-oncology diseases, personalized medicine, and target therapy are expected to provide growth opportunities for players operating in the market in the coming years.
The global epigenetics market is projected to reach USD 1.60 billion by 2022 from USD 0.85 billion in 2016, at a CAGR of 13.3%.
Get In-Depth Analysis of How COVID-19 is Impacting The Global Epigenetics Market:
1. Covid Impact on Epigenetics Market, growth/decline in product type/use cases of Epigenetics due to cascaded impact of Covid on Extended Ecosystem.
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Epigenetics refers to the covalent modification of DNA, RNA, or protein that results in changes to the function and/or regulation of these molecules, without altering their primary sequences. These modifications can occur naturally, or can be influenced, by several factors including age, environment, disease state, and changes in lifestyle.
The kits segment is expected to grow at the highest CAGR of 16.2% from 2017-2022 due to the fact that a large number of kits are used in various epigenetics techniques. The rising prevalence of a number of diseases, increasing R&D spending, and growing government funding for life science research are further contributing to market growth in this segment.
The epigenetics market in Asia-Pacific region is expected to witness the highest CAGR during the forecast period of 2017 to 2022. The growth of this segment can be attributed to the increasing R&D spending, increasing government initiatives, and rising focus on key market players in the region. Emerging markets such as Brazil, China, and India offer significant growth potential to market players.
Pharmaceutical companies and research laboratories require many such systems. Therefore, significant investments are required for procuring multiple, high-cost genomic instruments. End users such as academic research laboratories find it difficult to afford such systems as they have constricted budgets. High instrument costs, therefore, hinder their wide adoption, which is expected to restrict market growth during the forecast period.
The epigenetics market is fragmented with a large number of players offering a variety of products. The prominent players in the global market are Illumina (US), Thermo Fisher Scientific (US), Merck Millipore (US), Abcam (UK), Active Motif (US), Bio-Rad Laboratories (US), New England Biolabs (US), Agilent (US), QIAGEN (Netherlands), Zymo Research (US), PerkinElmer (US), and Diagenode (Belgium).
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