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Epigenetics Market: Surging to $10.91 Billion in 2024, Fueled by Rising Disease Prevalence and Advances in Precision Medicine and AI Analytics
Epigenetics Global Market Report 2024
The epigenetics market has experienced exponential growth, ascending from $9 billion in 2023 to a projected $10.91 billion in 2024, boasting an impressive Compound Annual Growth Rate (CAGR) of 21.2%. The market is poised for sustained expansion, with an anticipated leap to $23.86 billion by 2028, driven by a robust CAGR of 21.6%.
Driving Forces:
Rising Disease Prevalence Spurs Demand:
The significant growth of the epigenetics market is propelled by the escalating prevalence of cancer and other diseases. The surge in diseases intensifies the demand for epigenetics as a crucial tool in understanding genetic modifications. For example, the European Commission's Joint Research Centre predicts a 21.4% increase in new cancer cases in the European Union and European Free Trade Association countries from 2020 to 2040. Similarly, heart disease claims approximately 659,000 lives annually in the United States, underscoring the imperative need for epigenetic insights into gene modifications. Thus, the upswing in disease prevalence fuels the demand for epigenetics.
Precision Medicine's Influence:
The growing emphasis on precision medicine is anticipated to drive the epigenetics market further. Precision medicine leverages individual genetic, environmental, and lifestyle data to tailor treatments to specific patient needs. Within epigenetics, precision medicine employs individual epigenetic profiles and genetic data to formulate personalized healthcare strategies. Notably, in 2022, the Food and Drug Administration's Center for Drug Evaluation and Research approved 37 new molecular entities, with 34% classified as personalized medicines. The ascendancy of precision medicine is a key factor propelling the epigenetics market.
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Industry Leaders:
Major players shaping the epigenetics market landscape include Illumina Inc., Thermo Fisher Scientific, Merck Millipore, Abcam, Hologic Inc., Qiagen NV, and others. These industry leaders contribute significantly to advancements and innovations in the sector.
Innovations & Trends:
Technological Advancements Steer Progress:
Technological advancement emerges as a pivotal trend in the epigenetics market, with key players focusing on the development of cutting-edge products and services. An exemplary instance is Givaudan Active Beauty's launch of Chronoglow in May 2021. Chronoglow, a skin-care active component, utilizes green fractionation and artificial intelligence to replicate natural epigenetic mechanisms, offering a natural remedy for enhancing skin luminosity and reversing signs of aging.
AI-Driven Analytics Transform Data Analysis:
Companies in the epigenetics market are increasingly incorporating artificial intelligence (AI)-driven analytics to gain a competitive edge. AI-driven analytics involves utilizing AI technologies to automatically analyze and interpret large data volumes. FOXO Technologies, in July 2023, introduced Bioinformatics Services, employing innovative bioinformatic tools to enhance the speed and accuracy of epigenetic data analysis. This transformative approach aims to expedite discoveries and advance understanding in complex disease research.
Global Landscape:
In 2023, North America dominated the epigenetics market, while Asia-Pacific is projected to witness the fastest growth during the forecast period. Comprehensive market coverage spans Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Segmentation Insights:
The epigenetics market covered in this report is segmented -
1) By Product: Reagents, Enzymes, Instruments, Kits
2) By Technology: DNA Methylation, Histone Methylation, Histone Acetylation, Large Noncoding RNA, MicroRNA Modification, Chromatin Structures
3) By Application: Oncology, Metabolic Diseases, Developmental Biology, Immunology, Cardiovascular Diseases, Other Applications
4) By End-User: Academic And Research Institutes, Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Other End Users
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Epigenetics Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Epigenetics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on epigenetics market size, epigenetics market drivers and trends, epigenetics market major players, epigenetics market competitors' revenues, market positioning, and market growth across geographies. The epigenetics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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