LOS ANGELES, May 14, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, recently published report “Laboratory Equipment and Disposables Market Size, Share, Trends, Growth and Forecast, 2019 - 2026”.
The Global Epigenetics Diagnostic Market is estimated to grow at CAGR above 7% over the forecast time frame 2019-2026 and reach the market value around USD 18 billion by 2026.
The increased prevalence, alongside an epigenetic modifier base, of cancer and other conditions throughout the world is expected to fuel the growth in the industry during the forecast period. By implementing new techniques to reach certain and sensitive results, diagnostic companies upgrade their products. Companies such as Abcam plc, Invitrogen, and Sigma Aldrich Corporation are developing a new range of validated antibodies for the detection of histone changes at various locations.
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Furthermore, many biotechnology and pharmaceutical companies and academic research organisations are working together to promote the growth of the diagnostic industry of epigenetics. Companies like Epigenomics, OncoMethylome Sciences and Orion Genomics have collaborated on the development of laboratory-designed tests (LTDs) with other laboratories and diagnostic companies.
A high impact return driver on the market is expected to be the technological advances which will lead to greater accuracy, portability and cost efficiency. For example, Diagenode has developed automated kits for methylated DNA detection and purification.
Oncology Dominated the Overall Market In 2018
In 2018 the oncology market dominated with around 65 percent of the total sales. A high-impact driver on the market is expected to be the increasing prevalence of cancer around the world along with increased cancer deaths. This segment is also anticipated to gain a significant revenue share in the forecast period as new products are introduced and products are likely to be commercialized for the future.
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Epimutations are known to occur as hypermethylation and epigenetic silence, due to epigenetic changes. The involvement of epimutations in cancer etiology was known. Extensive R&D is being conducted to detect epimutation related specifically to tumor suppressor genes silencing and oncogene activation. In contrast to regular mutations, in nature, epimutations are reversible.
The most expansive segment of non-oncologics is considered because of rigorous R&D efforts by private and biopharmaceutical companies to identify the epigenetic markers associated with those disorders. The basis for a number of non-oncologic disorders such as metabolic, neurodegenerational and infectious diseases has been demonstrated to be epigenetic modifications. Epigenetic modifications extensive research for biomarkers for drug development is being conducted by private institutions and biopharmaceutical companies.
Market Snapshots
Because of increased R&D activity in the area of epigenetics, reagents held most of the product. Over the forecast period, kits are expected to be in high demand and grow to 19.2% due to the need for speedy and accurate detection technology.
DNA methylation held a significant share of revenue in 2018 based on technology. The major factors that attribute to this are technological developments, like methylation Sensitive PCR (MSP), and quick adoption of such products to improve diagnostic efficiency.
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A key factor in the oncology application segment is the increasing prevalence of epigenetic cancer. In 2018, the segment was dominated by solid tumors.
Due to factors such as high levels of awareness of patients, growing co-operation between major medicines companies for development of enhanced therapy, increase R&D funding and increased cancer prevalence, North America became a major regional market in 2018.
The Asia Pacific markets are estimated to have increased considerably over the forecast period with a CAGR of over 20% due to the large target population of cancer, diabetes and other chronic conditions along with unmet clinical requirements.
Key Players & Strategies
Roche Diagnostics; Thermo Fisher Scientific, Inc.; Eisai Co. are the main players in this industry, and Novartis AG. Major players focus on expanding their enterprises to increase their market share in developing regions. In addition, strategies like mergers, purchases and new product development are adopted. In March 2015, for example, Illumina Inc. worked on a universal, next-sequence oncology diagnosis with Merck Serono.
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