Wilmington, Delaware, Nov. 14, 2023 (GLOBE NEWSWIRE) -- 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." As per the latest report published by Allied Market Research, the global market for epigenetics is estimated to value at $4.1 billion by 2030. The market generated revenue of $1.0 billion in 2020 and is anticipated to witness the fastest growth with 14.8% CAGR from 2021 to 2030.
Factors influencing the growth of the market:
The global epigenetics market is driven by factors such as surging number of R & D activities, increase in genome mapping programs, growth in prevalence of cancer, and latest technological advancements associated with epigenetics. However, lack of skilled professionals and standardization concerns over epigenetics-derived diagnostics restrain the market growth to some extent. Nevertheless, numerous growth prospects in the emerging economies are expected to provide ample growth opportunities to the key players in the industry.
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The kits segment to rule the roost
In terms of products, the kits segment grabbed the largest market share of nearly two-fifths of the global epigenetics market in 2020. The growth is attributed to the availability of a diverse range of kits. However, the instruments segments is expected to portray the fastest growth with 16.3% CAGR from 2021 to 2030, owing to launch and development of several instruments for epigenetic purposes.
Recent Developments in the Epigenetics Market
- In February 2021, Twist Bioscience Corporation, a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform announced the launch of the Twist NGS Methylation Detection System, a robust, end-to-end sample preparation and target enrichment solution for identifying methylated regions in the human genome.
- In March 2021, Hologic, Inc., a global leader in women's health, it has acquired the Diagenode, a privately held, European developer and manufacturer of molecular diagnostic assays and epigenetics products, for approximately $159 million (130 million euros), subject to working capital and other customary closing adjustments.
- In January 2023, Agilent Technologies Inc. announced the acquisition of Avida Biomed, an early-stage life sciences company that develops high-performance target enrichment workflows with unique capabilities for clinical researchers utilizing next-generation sequencing (NGS) approaches to study cancer. Innovative chemistries enable simultaneous genomic and epigenomic profiling on the same sample, yielding greater insights for precision medicine.
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The oncology segment to grab the lion’s share by 2030
In terms of application, the oncology segment accounted for the highest share of more than two-thirds of the total market revenue in 2020. The growing prevalence of cancer across the world accelerates the growth of the segment. However, the non-oncology segment would cite the fastest growth with 15.3% CAGR throughout the forecast timeframe. The growth is attributed to surge in chronic diseases specifically metabolic and cardiac disorders.
North America generated the major share in 2020
According to the regional analysis, the North America region acquired the major market share in 2020, due to presence of frontrunners and speedy adoption of advanced technologies across the region. Asia-Pacific, on the other hand, is anticipated to showcase the fastest growth with 16.3% CAGR during the forecast period, owing to surge in healthcare investment and surge in R & D activities across the region.
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Leading Market Players:
- Thermo Fisher Scientific Inc.
- Hologic Inc.
- Active Motif, Inc.
- Illumina Inc.
- Agilent Technologies, Inc.
- Merck Millipore
- QIAGEN N.V.
- Zymo Research
- PerkinElmer, Inc.
- Abcam Plc.
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