Epigenetics Market in terms of revenue was estimated to be worth $1.8 billion in 2023 and is poised to reach $4.3 billion by 2028, growing at a CAGR of 18.3% from 2023 to 2028 according to a new report by MarketsandMarkets. The growth of the market is projected to be driven by factors such as rising investment in R&D, declining sequencing cost & time, favourable government initiatives & funding for epigenetics research, advancement in technology for epigenetic research and increasing demand for epigenetic-based therapeutics.
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The kits & reagents segment is expected to have the dominant share of the epigenetics market in 2022.
Based on technology, the global epigenetics market is segmented into kits & reagents, enzymes, instruments and accessories, software, and service. The kits & reagents is further segmented into antibodies, chip-sequencing kits & reagents, whole-genome amplification kits & reagents and 5-HMC & 5-MC Analysis kits & reagents, histones and other kits & reagents. In 2022, the Antibodies segment held the largest share of the epigenetics market. The rising adoption of antibodies in detection, identification, and alteration/modification of proteins followed by their role in monitoring cell regulation & expression are the driving factor for the growth of the antibodies segment during the forecast period.
The DNA methylation segment accounted for the largest share of the method segment in the epigenetics market in 2022.
Based on disease indication, the epigenetics market is segmented DNA methylation, histone modifications, and other methods (non-coding RNA and chromatin remodelling). The DNA methylation segment is anticipated to grow at significant CAGR during the forecast period owing to factor such as efficacy of the DNA methylation technique in oncology studies.
The Asia Pacific region is the fastest-growing region of the epigenetics market in 2022.
The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the epigenetics markets in the region is driven by the expanding international presence of domestic players by adopting strategic agreements, partnerships, and collaborations and Improving healthcare infrastructure in developing Asia Pacific economies.
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Epigenetics Market Dynamics:
Drivers:
1. Growing investments in research & development
2. Declining sequencing costs & time
3. Favorable government initiatives and funding for epigenetics research
4. Technological advancements in epigenetics research
5. Rising demand for epigenetic-based therapeutics
Restraints:
1. Limited applications of epigenomic data in toxicology
2. Data privacy concerns and security issues
Opportunities:
1. Expanding applications of epigenetics
2. Integration of artificial intelligence and machine learning algorithms
Challenge:
1. Concerns regarding quality of antibodies
2. Challenges associated with epigenetic editing
Key Market Players of Epigenetics Industry:
The epigenetics market is moderately consolidated, with a small number of players competing for market shares. Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Illumina, Inc. (US), PacBio (US), Abcam plc (UK), Active Motif, Inc. (US), Bio-Rad Laboratories Inc. (US), Promega Corporation (US), Revvity (US), Qiagen (Germany), New England Biolabs (US), Zymo Research Corporation (US), Diagenode SA (US), F. Hoffmann-La Roche Ltd (Switzerland) and Epigentek Group Inc. (US) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, and agreements, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
The primary interviews conducted for this report can be categorized as follows:
- By Respondent: Supply Side- 60%, and Demand Side – 40%
- By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
- By Region: North America: 40%, Europe: 27%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa: 3%
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