The Epigenetics market is estimated to be valued at US$ 14.80 Bn in 2023 and is expected to exhibit a CAGR of 1.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Epigenetics involves the changes in gene activity and expression that do not involve changes to the underlying DNA sequence. This includes processes like DNA methylation and histone modifications. Epigenetics finds its applications in various domains like oncology, non-oncology conditions, reproductive health and developmental biology. Rising cases of cancer are driving the demand for epigenetics-based diagnostic procedures.
Market Dynamics:
One of the key drivers for the growth of epigenetics market is increasing demand for personalized medicine. Personalized medicine aims to optimize medical treatment based on individual genetics, biomarkers, and molecular diagnostics. Epigenetic changes can impact disease risk and clinical outcomes. Epigenetic profiling helps in developing tailored treatment plans based on an individual’s epigenetic makeup and disease profiles. This is expected to significantly drive the epigenetics market growth over the forecast period.
Another factor fueling the Global Epigenetics Market growth is rising focus on biomarker development. Identification of epigenetic biomarkers that can predict risk, disease progression and treatment response is a major area of research. Biomarkers based on epigenetics are considered promising candidates for clinical use. The potential of epigenetic biomarkers is being explored in oncology, neurology and other therapeutic areas. Their ability to facilitate early disease detection and guide therapy selection is fueling investments in this field.
SWOT Analysis
Strength:
1. Epigenetics provides information about environmental factors that cause diseases. Understanding epigenetic changes can help develop effective prevention and treatment strategies.
2. Several epigenetic techniques such as chromatin immunoprecipitation, methylated DNA immunoprecipitation are available to study epigenetic patterns.
3. Growing applications of epigenetics in various research areas such as oncology, immunology is driving the market growth.
Weakness:
1. Epigenetic patterns are dynamic and vary considerably between cell types making it difficult to analyze.
2. Lack of standardized techniques and protocols for epigenetic studies poses challenges.
Opportunity:
1. Scope for epigenetic screening for cancer detection and prognosis prediction offers lucrative opportunities.
2. Growing R&D initiatives for development of epigenetic drugs and therapies will augment the market expansion over the forecast period.
Threats:
1. High costs associated with epigenetic instruments, assays and reagents may restrict market growth.
2. Stringent regulatory framework for approval of epigenetic therapeutics also poses threats.
Key Takeaways
The global Epigenetics market is expected to witness high growth, exhibiting a CAGR of 1.0% over the forecast period, due to increasing prevalence of diseases like cancer where epigenetic mechanisms play a major role. The global Epigenetics market size is estimated to reach US$ 14.80 Bn by 2023.
Regional analysis
North America is expected to dominate the global Epigenetics market during the forecast period. This is attributed to growing adoption of technologically advanced epigenetic instruments along with rising R&D investments by pharmaceutical companies and research institutes in the region for epigenetic research.
Key players
Key players operating in the Epigenetics market are Active Motif, Inc., Zymo Research, Thermo Fisher Scientific Inc., QIAGEN N.V., Merck Millipore, Illumina Inc., Agilent Technologies, Inc., Abcam Plc., Hologic Inc., PerkinElmer, Inc. Mergers and acquisitions are the key strategies adopted by these companies to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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