Epigenetics market is poised to record significant growth pace in 2021. The growing prevalence of cancer along with other chronic diseases along with the increasing geriatric population is slated to bolster the growth of the market.
Epigenetics market is poised to record significant growth pace in 2021. The growing prevalence of cancer along with other chronic diseases along with the increasing geriatric population is slated to bolster the growth of the market. The existence of organizations such as the National Cancer Institute (NCI), the International Human Epigenome Consortium (IHEC), and the National Institute of Health (NIH) is optimistically influencing the demand for epigenetics. These organizations are promoting support and funding to product development, R&D and exercises related to the area of epigenetics. On the back of these aspects, Fact.MR, a global research & consulting firm, in the updated edition of the report, indicates that the market shall grow remarkable amid the assessment period 2018-2027.
“Growing need to understand epigenetic alterations at the molecular level as well as expansion of therapeutic solutions are anticipated to motivate these organizations to fund R&D programs. Additionally these endeavours such as the EGRP (Epidemiology & Genomics Research Program) grants incentives to research activities which are working towards an empathetic of cancer causes along with their related results.” says Fact.MR.
Increasing cancer prevalence
Worldwide, there has been a notable increment in the number of people suffering from cancer. As per WHO estimates, the number of individuals suffering from cancer shall rise to 19.3 Mn by 2025 end from 14.1 Mn in 2012. This worldwide and widespread cancer threat remains a key driver for the growth of new cancer therapies which helps in risk assessment, early diagnosis, along with efficient treatment monitoring.
Epigenetics offers new prospects for deriving therapeutic strategies curated to inverse dysregulation in cancer. Various cancer research studies which utilize epigenetics techniques are at present underway; noteworthy investments are being made to sustain these researches.
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Will Oncology Application Remain Lucrative in 2021 & Beyond?
Oncology has been witnessing widespread adoption in the global market, accounting for majority of the market share. Growing prevalence of cancer all over the world together with growing cases of deaths owing to the aliment is contributing to the growth. Additionally, the initiation of novel products as well as potential commercialization of products at present in the pipeline shall trigger the growth in the market.
On the other hand, non-oncology is also anticipated to gain traction over the forecast period. Growth can be ascribed to stringent R&D initiatives undertaken by biopharmaceutical companies and private institutions for the identification of epigenetic markers pertaining to these disorders.
How Big are the Prospects for Market Players in the US?
The US spearhead the epigenetics market as the governments are supporting ongoing research activities on epigenetics by financing them. Aside from this, the continual advancements in diagnostic procedures and existence of advanced healthcare facilities are stimulating the region’s growth.
The UK will remain the second big lucrative region due to increasing R&D initiatives pertaining to the epigenetic base analysis in several ailments are increasing.
On the other hand, emerging regions such as India, China, and Brazil provide notable growth prospects to market players. This could mainly be acribed to the broadened healthcare market, growing incidence of chronic and infectious disorders, as well as rising R&D initiatives targeted at the growth of innovative genomic techniques.
Product Launches Remain Prime Focus Areas: Fact.MR Survey
Epigenetics market is characterized by a huge number of players. Fact.MR’s survey with thought leaders discovered that launching several innovative products constitutes a key strategy for market players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. A few of the players profiled in the report are, Sigma-Aldrich Corporation, New England Biolabs Merck, Diagenode, and Abcam. The other key companies in the market are Zymo Research, Thermo Fisher Scientific, Zymo Research, Active Motif, Illumina, and Qiagen. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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Source: Fact.MR