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. However, standardization concerns regarding epigenetics-based diagnostics and lack of skilled professionals hamper the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities for the market players in the future.
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Drivers, restraints, and opportunities-
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.
The global epigenetics market was valued at $1.0 billion in 2020, and is estimated to reach $4.1 billion by 2030, growing at a CAGR of 14.8% from 2021 to 2030.
- Since the Covid-19 outbreak, researchers have been working to find a vaccine against Covid-19 virus. In addition, the use of targeted antiviral therapies such as rapamycin, remdesivir, ribavirin, and other epigenetic drugs have been demonstrated to inhibit the infection.
- Researchers have been trying to understand how epigenetics could prevent viral proliferation, so that vaccines could be developed to specifically target the replicating mechanism of virus.
- During the pandemic, the number of epigenetic research activities and awareness regarding epigenetic drugs have been increased.
The growth of the global epigenetics market is attributed to increase in oncology cases, surge of other chronic diseases and its rising application for non-oncology applications. Moreover, increase in R & D for epigenetics is expected to further drive the market growth during the forecast period
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The oncology segment to dominate by 2030-
On the basis of application, the oncology segment contributed to the lion’s share in 2020, holding more than two-thirds of the global epigenetics market. This is attributed to the large number of cancer cases across the globe. However, the non-oncology segment is projected to manifest the fastest CAGR of 15.3% from 2021 to 2030. Rise in chronic diseases especially cardiac and metabolic disorders drives the segment growth.
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