Epigenetics: New Technologies Transforming the Industrial Business
The global epigenetics market is projected to reach USD 1.60 billion by 2022 from USD 0.85 billion in 2016, at a CAGR of 13.3% What are the Global Growth Factors?
The growth in Epigenetics Market is primarily attributed to decreasing sequencing costs, increasing research activity, funding for epigenetics research, rising prevalence of cancer and growing applications of epigenetics in non-oncology diseases. Expanding application areas of epigenetics in non-oncology diseases, personalized medicine, and target therapy are expected to provide growth opportunities for players operating in the market in the coming years.
What The Experts Says about the Market Growth?
The global Epigenetics Market by Technology and Application is projected to reach $1.60 billion by 2022 from USD 0.85 billion in 2016, at a CAGR of 13.3% from 2017 to 2022.
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Kits Segment Accounted for the Largest Share of the Global Market, by Product
On the basis of product, the kits segment accounted for the largest share of the global epigenetics market in 2016. This can be attributed to the fact that a large number of kits are used in various epigenetic techniques. The rising prevalence of a number of diseases, increasing R&D spending, and increased government funding for life science research are the other factors expected to support market growth.
Among the Application Segments, Oncology Dominated the Global Epigenetics Market in 2016
Based on application, the oncology segment accounted for the largest share of the epigenetics industry in 2016. The large share of this segment can be attributed to the rising prevalence of cancer and the increasing number of research-related activities.
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North America accounted for the largest share of the epigenetics market in 2016, followed by Europe. Increase in epigenetics research activities, favorable government funding initiatives, high R&D expenditure, rising incidence of various diseases, and the presence of key players in the region are the key factors driving the growth of the epigenetics industry in North America.
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Key Market Players:
The major players in the global epigenetics market are Illumina (US), Thermo Fisher (US), Diagenode (Belgium), QIAGEN (Netherlands), Merck Millipore (US), Abcam (UK), Active Motif (US), New England Biolabs (US), Agilent (US), Zymo Research (US), PerkinElmer (US), and Bio-Rad (US).
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