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.
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.
Allied Market Research published a report, titled, “Epigenetics Market by Product (Kits, Reagents, Enzymes, Instruments), by Application (Oncology, Non Oncology), by End User (Academic and Research Institutes, Pharmaceutical and Biotechnology Companies, Contract Research Organizations): Global Opportunity Analysis and Industry Forecast, 2020-2030.” 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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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.
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.
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.
North America held the major share in 2020-
By region, the market across North America dominated in 2020, garnering nearly of the global epigenetics market, owing to rapid adoption of advanced technologies and presence of key players across North America. Simultaneously, Asia-Pacific is expected to cite the fastest CAGR of 16.3% throughout the forecast period, due to rise in R & D activities for epigenetics services and increase in healthcare investment in the region.
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.