Press release
Global Epigenomics Market To be Driven by the Growing Need To Study Complex Diseases in the Forecast Period Of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 13.1%
The increasing prevalence of cancer and other chronic diseases, along with the rising geriatric population, is poised to bolster the growth of the market globally. The presence of organisations such as the International Human Epigenome Consortium (IHEC) and the National Cancer Institute (NCI) is positively influencing the growth of the market. These organisations are promoting funding and support to research and development and product development exercises pertaining to the field of epigenetics.
The market is majorly driven by the increasing prevalence of oncology, rising demand for early diagnostic procedures, and increasing usage of epigenetic biomarkers at various stages of cancer. Increasing usage of combination biomarkers and growing need for effective and early diagnostic procedures for cancer are some of the factors expected to augment the market growth at a significant rate.
Industry Definition and Major Segments
Epigenomics is the study of the epigenome, which is a collection of chemical molecules that direct the operation of the entire genome. These chemicals bind to DNA and activate or deactivate specific genes in the genome, altering its behaviour. As a result, the epigenome may alter protein production regulation in some body cells.
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Based on technology, the global epigenomics market is segmented into:
• Histone Methylation
• Large Non-Coding RNA
• MicroRNA Modification
• DNA Methylation
• Chromatin Structures
• Others
By product type, the market is divided into:
• Kits
• Reagents
• Enzymes
• Others
The significant applications of the market are:
• Diagnostics
• Pharmaceuticals
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Some of the factors driving the global market expansion include the government's substantial funding for epigenetics research, the presence of enhanced healthcare facilities, and advances in diagnostic processes. Also, increased patient awareness of the availability of advanced products is another factor contributing to the market growth across the globe. There is a growing demand for cancer drugs in the United States, and numerous investments are being made in cancer genetics awareness, which is expected to accelerate the market's expansion.
The increased adoption of these treatment solutions coupled with rising investments in R&D activities and collaborations between pharmaceutical, biotechnology companies, and academic institutes will augment the statistics of the epigenomics market over the coming years.
Key Market Players
The major players in the market include Epigenomics AG, Illumina, Inc., Merck KGaA, Zymo Research Corporation, and Agilent Technologies, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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