Portland, OR -- (SBWIRE) -- 12/08/2017 -- According to a new report published by Research Beam, titled, "Epigenetics Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global epigenetics market epigenetics market was valued at $555 million in 2016, and is projected to reach $1,321 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023. The DNA-modifying enzymes segment witnessed the highest rate, generating maximum revenue in the market in 2016.

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Epigenetics is an area of developmental biology that involves the study of cellular and physiological trait variations initiated by external or ecological aspects. This external stimulus swipe genes on and off and affect the ability of cells to read genes. Epigenetics changes the organism's phenotype rather than the genotype, wherein the underlying DNA or RNA sequence remains unchanged. For instance, DNA methylation and histone modification are epigenetic processes wherein the alteration in gene expression is observed without the change in the DNA sequence. The increase in usage and application of epigenetics to formulate drugs to treat different oncology and non-oncology related diseases is expected to boost the market growth.

The major factors that drive the global epigenetics market are rise in cancer prevalence; improved funding & aids for R&D activities, surge in partnership between academic, pharmaceutical, and biotechnology companies, and increased application of epigenetics in non-oncology diseases. However, high cost of instruments and lack of trained professionals are factors that impede the growth of this market. Furthermore, untapped potential of emerging markets provides lucrative opportunities to the market players.

The kits & assays product segment occupies the highest share in epigenetics product market, owing to their sheer usage and need throughout the protocol and other pre-requisite steps of DNA analysis. The next-generation sequencers segment witnessed the highest growth rate, and accounted for over half of the total share in 2016, and is anticipated to dominate the market. This is attributed to most of the epigenetic investigations that utilize this technology to achieve their desired objective.

At present, oncology dominates the application segment and is expected to grow at a CAGR of 12.8% during the forecast period. Drugs based on epigenetics are reported to be incredibly effective and aid reverse abnormal gene expression. Abnormal gene expression causes an array of different diseases, especially cancer and respiratory diseases.

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Key Findings of the Epigenetics Market:

The kit & assays product segment is anticipated to grow at the highest CAGR from 2017 to 2023.
The oncology application segment is expected to witness the highest growth rate during the forecast period.
The academic & government research institutes segment generated the highest revenue in 2016, and is expected to continue its dominance in the near future.
North America dominated the global epigenetics market, and is projected to grow at a CAGR of 12.3%.
Asia-Pacific is expected to witness the highest growth rate during the forecast period.
The major companies profiled in the report include Abcam plc., Illumina, QIAGEN N.V., Merck & Co., New England Biolabs, Inc., Sigma-Aldrich Corporation, Thermo Fisher Scientific, Inc., Active Motif. Diagenode, Inc., and Zymo Research Corporation.