Epigenetics Market size is estimated to reach USD 21.62 billion from USD 8.03 billion in 2019, exhibiting a CAGR of 13.1% through 2027. Epigenetic processes are natural and essential for the functioning of organisms, but changes due to external factors or ecological aspects may lead to serious disorders, including different kinds of cancers and other illnesses.
It has been found that several illnesses and health indicators may have an indirect or direct link with epigenetic mechanisms, including respiratory diseases, various cancers, cardiovascular diseases, autoimmune disorders, cognitive dysfunction ailments, reproductive complications, and others. Agents like pesticides, heavy metals, tobacco smoke, radioactivity, hormones, viruses, basic nutrients, and environmental factors are contributing to the rise in such conditions, which, in turn, is poised to boost epigenetics diagnostics market growth in the coming years.
Currently, several cancer research studies utilizing epigenetics techniques are underway. Substantial investments to support these studies will also boost epigenetics industry growth. For instance, the University Hospitals Southampton NHS Foundation Trust (U.K.) and the University of Southampton received USD 1.57 million in February 2016, for genetics & genomics research related to cancer and infectious diseases.
The emergence of epigenetic targets for the development of epigenetic therapy and epigenetic drugs and is likely to offer lucrative opportunities for the epigenetics market size expansion. The leading industry players across the globe are investing significantly in epigenetics-based product development. For instance, in April 2019, Greenwood Diagnostic Laboratories, in collaboration with LHSC, launched a novel clinical test for analysis of epigenetic changes, called EpiSign. Technological advances in the epigenetic field may propel industry trends over the forecast period.
However, the low budget of academic research instruments, high cost of genomic instruments, and lack of trained professionals are the key negative impact rendering factors for the global epigenetics market.
In the regional landscape, Europe is forecast to remain a major revenue generator for the epigenetics market share, delivering a CAGR of 12.8% through 2027 due to increased investments in healthcare projects. For instance, the BLUEPRINT project received a funding of 52.1 million USD for generating 100 reference epigenomes of healthy leukemic cells.
The Asia-Pacific region is set to witness a notable growth rate of 14.3% over the forecast period on account of increasing investments in pharmaceutical and healthcare sectors in India, Japan, and China.
North America region is forecast to generate revenue close to USD 8.32 billion by 2027. The robust growth is a result of government initiatives to fund research activities and advancements in diagnostic & therapeutic procedures in the region.
Key players in the Global Epigenetics Market:
- Illumina (U.S.)
- Merck Millipore (U.S.)
- Thermo Fisher Scientific (U.S.)
- Active Motif (U.S.)
- Abcam (U.K.)
- Bio-Rad Laboratories (U.S.)
- Agilent (U.S.),
- New England Biolabs (U.S.)
- Zymo Research (U.S.)
- QIAGEN (Netherlands)
- PerkinElmer (U.S.)
- Diagenode (Belgium)