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.
According to the report published by Allied Market Research, the global epigenetics market was estimated at $1.0 billion in 2020 and is expected to hit $4.1 billion by 2030, registering a CAGR of 14.8% from 2021 to 2030.
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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.
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. In addition, various product launch, collaborations, and other developmental strategies among key players further drive the market.
Covid-19 Scenario-
- Rise in number of epigenetic researches and increase in awareness of epigenetic drugs for the treatment of coronavirus infection has had a positive impact on the global epigenetics market.
- This drift is most likely to continue till the pandemic is completely over.
The kits segment to retain the lion’s share-
On the basis of products, the kits segment held the major share in 2020, garnering nearly two-fifths of the global epigenetics market. Availability of an array of different kits fuels the growth of the segment. The instruments segment, on the other hand, is projected to cite the fastest CAGR of 16.3% throughout the forecast period, due to development and launch of various instruments for epigenetic purposes.
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On the basis of region, the epigenetics market size of North America generated revenue worth $468.84 million in 2020, and is anticipated to dominate the global epigenetics market in the future. This is attributed to developed healthcare infrastructure, wide availability of advanced epigenetics products, large presence of key players, and presence of trained medical professionals. However, Asia-Pacific is expected to witness highest growth rate during the forecast period, owing to rise in awareness related to epigenetics industry, increase in penetration of key players in emerging countries in Asia-Pacific, and development in infrastructure for research and clinical settings.
Key players in the industry-
- Abcam Plc.
- PerkinElmer, Inc.
- Zymo Research
- QIAGEN N.V.
- Merck Millipore
- Agilent Technologies, Inc.
- Illumina Inc.
- Active Motif, Inc.
- Hologic Inc.
- Thermo Fisher Scientific Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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