The market for Epigenetics was valued at a staggering 800 US$ millions in the year 2017 and was expected to grow at a double-digit CAGR in the forecast period of 2019 to the year 2030.
New York, NY -- (SBWIRE) -- 06/13/2019 -- The growth of this market can be attributed to the factors such as the reducing prices of DNA sequencing, technological advancements, increasing incidences of cancer worldwide and growing investments and funding by both government and private establishments. University and business collaboration have been a major trend in the epigenetics market scenario. The extensive number of collaborations has been initiated to promote the development of new instruments, studies, and other research.
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Major Players in the Epigenetics Market
The prominent players in the global epigenetics market are Agilent Technologies, Thermo Fisher Scientific, Illumina, QIAGEN N.V., PerkinElmer, Merck KGaA, Abcam plc. , Active Motif, Bio-Rad Laboratories, Inc., New England Biolabs and, Zymo Research among others.
Increasing incidences of cancer to propel the market growth
The utilization of epigenetics provides accurate and deeper knowledge regarding molecular basis of individual tumors, thereby providing a better, efficient and long-lasting therapeutic option in the field of oncology. According to Cancer Research UK, the number of cancer cases reported worldwide in the year 2018, was approximately around 17 million. It is further projected that within the period 2018-2040, the total incidence rate of worldwide cancer will increment by 62%. The growing incidences of cancer are anticipated to present a lucrative growth opportunity for the global epigenetics market in the coming years.
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Increasing Investments in R&D
Rising prevalence and incidences of several diseases worldwide has triggered the need for advanced R&D scenario across all sectors of biotechnology, pharmaceuticals and research establishments. Both public and private sectors are now focusing on new innovative techniques, ideas to obtain latest medical breakthroughs. According to studies, it was estimated that the total spending on R&D by mid-market biotechnology companies, witnessed an increment of approximately 18% between 2015 and 2016. Growing need to address several forms of ailments has been crucial in dictating the funding and R&D spending by governmental establishments as well as major market players and other research institutes. Increasing R&D investments and spending is anticipated to positively contribute to the growth of the global epigenetics market.
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Some Key Points for TOC
1. Global Epigenetics Market - Analysis & Forecast, By Product
2. Global Epigenetics Market - Analysis & Forecast, By Technology
2.1. Introduction & Definition
2.2. Reagents & Kits
2.4. Epigenetics Services
3. Global Epigenetics Market - Analysis & Forecast, By Application
3.3. Developmental Biology
3.4. Cardiovascular Diseases
3.5. Metabolic Diseases
3.7. Other Application
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