Epigenetics Market Entails a Detailed Quantitative Analysis of the Current Market Trends From 2020-2026 to Identify the Prevailing Opportunities
Pune, Maharashtra, India, September 24 2020 (Wiredrelease) Allied Analytics –:Tthe Global Epigenetics market was valued at $555 million in 2016, and is projected to reach $1,321 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023. The DNA-modifying enzymes segment witnessed the highest rate, generating maximum revenue in the market in 2016.
Epigenetics is an area of developmental biology that involves the study of cellular and physiological trait variations initiated by external or ecological aspects. This external stimulus swipe genes on and off and affect the ability of cells to read genes. Epigenetics changes the organisms phenotype rather than the genotype, wherein the underlying DNA or RNA sequence remains unchanged. For instance, DNA methylation and histone modification are epigenetic processes wherein the alteration in gene expression is observed without the change in the DNA sequence. The increase in usage and application of epigenetics to formulate drugs to treat different oncology and non-oncology related diseases is expected to boost the market growth.
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Instruments in epigenetics are projected to grow at the fastest rate
Based on product, the instruments segment is expected to grow at the fastest CAGR of 14.9% during the forecast period, supplemented by the increasing use of instruments in the analytical and life-science industry. However, the kits & assays segment occupied more than one-third of the global market in 2016 and is expected to continue its dominance throughout 2023.
Oncology to remain the dominant segment through 2023
By application, the oncology segment is expected to garner almost two-thirds of the global market from 2017 to 2023, owing to the growing trend of biomarker research and the rise in the development of anticancer therapies. However, the non-oncology segment is projected to grow at the fastest rate during the forecast period, owing to the effectiveness of epigenetic therapies in treating metabolic, inflammatory, and cardiovascular diseases.
Academic & government research institutes are expected to dominate the market
Based on end user, academic & government research institutes is anticipated to remain the dominant segment throughout the forecast period owing to rise in demand for extraction services, library preparation, methylation services, and clinical grade-targeted sequencing among researchers and scientists. However, the biotechnology companies segment is expected to grow at the fastest CAGR of 13.7% from 2017 to 2023.
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Asia-Pacific to encounter the highest growth in the near future
As the markets in developed countries are almost saturated, Asia-Pacific is projected to provide major opportunities to venture capitalists and investors throughout the forecast period. The region is expected to grow at the highest CAGR of 14.8%, driven by significant developments by China and Japan towards incorporating new technologies in healthcare.
Key market players
The key players analyzed in the report include Abcam plc., Illumina, QIAGEN N.V., Merck & Co., New England Biolabs, Inc., Sigma-Aldrich Corporation, Thermo Fisher Scientific, Inc., Active Motif. Diagenode, Inc., and Zymo Research Corporation. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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