Epigenetics Market to Witness 14.8% CAGR by 2031 | SkyQuest Technology
Westford, USA, Sept. 24, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Epigenetics Market will attain the value of USD 4.7 Billion by 2031, with a CAGR of 14.8% during the forecast period (2024-2031). The prevalence of cancer across the globe is one of the major factors slowing the growth of the market in recent times. For example, according to PAHO, an estimated 20 million new cancer cases and 10 million deaths from cancer in 2023, and the annual reported cases of cancer are expected to reach about 30 million by 2040. It can help reduce mortality and is expected to grow the overall market growth.
Browse in-depth TOC on " Epigenetics Market "
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- Figures – 76
Epigenetics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.6 Billion |
| Estimated Value by 2031 | USD 4.7 Billion |
| Growth Rate | Poised to grow at a CAGR of 14.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product type, Technology, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Emergence of Epigenetic Therapies for Rare and Complex Diseases |
| Key Market Drivers | Rising Prevalence of Chronic Diseases and Cancer |
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Epigenetics Market Segmental Analysis
The global epigenetics market is segmented into four major segments i.e. by product type, technology, application, and region.
Based on type, it is divided into reagents, kits, instruments, enzymes, services.
Based on technology, it is bifurcated as DNA methylation, histone methylation, histone acetylation, microrna modification, and other epigenetic modifications.
Based on application it is segregated into, oncology, cardiovascular diseases, metabolic diseases, neurological disorders, immunology.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Reagents Segment to Dominate Due to Advancements in Reagent Formulations
Reagents segment is dominating in the market because they are the foundation components of epigenetic modification, essential for processes such as DNA methylation and histone modification analysis. Reagents that continue to be required in academic research, drug discovery, and screening implementation helps to control. Continuous improvements in reagent development and efficiency are increasing their utility in epigenetic studies.
Neurological Diseases Segment to Drive Market Due to Increasing Development of Epigenetic Mechanisms
The increasing development of epigenetic mechanisms in neurological diseases, including Alzheimer's and Parkinson's diseases, the fastest growing segment of the epigenetics market. Advances in understanding the epigenetic basis of neurodegenerative disease led to the development of targeted therapies and diagnostic tools. Emerging therapies that integrate epigenetic mechanisms in neuroscience contribute to the rapid growth of this segment.
North America is Dominating Due to Increasing Incidence of Chronic Diseases
North America is dominating the epigenetics market due to high investments in genomic and epigenetic research in countries. High prevalence of chronic diseases, focus on precision medicine, the presence of key market players using epigenetic technologies in the research and clinical applications have been established in the country and further strengthening the leading position.
Asia Pacific is the fastest growing region due to increasing research activity in China, Japan and India, with rising government policies and investments in life sciences, contributing to the region’s rapid growth. Economic growth in the Asia-Pacific region is witnessing an increase in chronic diseases, creating opportunities for the application of epigenetics in research and treatment.
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Drivers
- Rising Prevalence of Chronic Diseases and Cancer
- Advancements in Genomic and Sequencing Technologies
- Growing Demand for Personalized Medicine
Restraints
- High Costs of Epigenetics Research and Technologies
- Complexity and Lack of Standardization in Epigenetic Data
- Regulatory and Ethical Challenges
Prominent Players in Epigenetics Market
- AbbVie Inc.
- AstraZeneca PLC
- Bayer AG
- BeiGene Ltd.
- Bristol Myers Squibb Company
- Epizyme, Inc.
- GlaxoSmithKline PLC
- Incyte Corporation
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Regeneron Pharmaceuticals, Inc.
- Roche Holding AG
- Seattle Genetics, Inc.
- Takeda Pharmaceutical Company Limited
- Targovax, Inc.
- Vertex Pharmaceuticals Incorporated
- Vivid Biosciences Inc.
- Zymeworks Inc.
Key Questions Answered in Epigenetics Market Report
- How big is the Global Epigenetics Market?
- What are the key drivers of Global Epigenetics Market size?
- Which is the fastest growing region in the Global Epigenetics Market?
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This report provides the following insights:
Analysis of key drivers (rising prevalence of chronic diseases and cancer, advancements in genomic and sequencing technologies, growing demand for personalized medicine), restraints (high costs of epigenetics research and technologies, complexity and lack of standardization in epigenetic data, regulatory and ethical challenges), opportunities (emergence of epigenetic therapies for rare and complex diseases), influencing the growth of Epigenetics Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Epigenetics Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Epigenetics Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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About Us:
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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