by The Epigenetics Market is estimated to be valued at US$ 14.80 Bn in 2023 and is expected to exhibit a CAGR of 1.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Epigenetics involves changes in gene activity and expression that occurs without any changes in the DNA sequence. Epigenetic techniques help in understanding cell differentiation and development. These techniques are used in cancer, developmental biology, immunology and neurobiology research. They also help in analyzing pathogenicity of diseases and identifying new drug targets.
Market key trends:
The increasing adoption of epigenetics techniques in disease diagnostics and treatment is one of the key trends driving the growth of epigenetics market. Epigenetic markers help in early cancer detection. They also aid in developing epigenetic drugs for precision medicine. Various companies are investing in development of epigenetic drugs for cancers and other chronic diseases. For instance, Active Motif, Inc. offers epigenetic research tools and reagents for studying of histone modifications, chromatin structure & non-coding RNA. Their products help in understanding epigenetic mechanisms of diseases.
Porters Analysis
Threat of new entrants: The threat of new entrants is moderate as the Global Epigenetics Market requires huge R&D investments and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many global companies providing epigenetics products and solutions.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute raw materials and reagents.
Threat of new substitutes: The threat of new substitutes is high due to the availability of alternative techniques like DNA methylation and histone modification analysis.
Competitive rivalry: High due to the presence of global and local players.
SWOT Analysis
Strengths: Advanced epigenetic technologies, growing epigenetics applications in oncology and non-oncology areas, increasing epigenetics research activities.
Weaknesses: High costs associated with epigenetic analysis, lack of skilled professionals, regulatory challenges for new epigenetic tools.
Opportunities: Emerging economies, integration of epigenetics with omics technologies, personalized medicine.
Threats: Ethical issues related to epigenetic modifications, competition from alternative techniques.
Key Takeaways
The global Epigenetics market is expected to witness high growth, exhibiting CAGR of 1.0% over the forecast period, due to increasing R&D investments by pharmaceutical and biotechnology companies in epigenetic drug development.
Regionally, North America is expected to dominate the global Epigenetics market during the forecast period. This is attributed to the presence of major market players and availability of advanced epigenetic technologies in the region. However, Asia Pacific is likely to grow at the fastest pace over the coming years owing to growing research activities, increasing healthcare expenditure, and rising prevalence of chronic diseases.
Key players operating in the Epigenetics market are Active Motif, Inc., Zymo Research, Thermo Fisher Scientific Inc., QIAGEN N.V., Merck Millipore, Illumina Inc., Agilent Technologies, Inc., Abcam Plc., Hologic Inc., PerkinElmer, Inc. Major players are focusing on new product launches, collaborations and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
