Transparency Market Research Report Added "Epigenetics Drugs and Diagnostic Technologies Market - Global Industry Analysis and Trends - 2018"
Albany, NY -- (SBWIRE) -- 12/14/2016 -- The global epigenetics drugs and diagnostic technologies market is estimated to rise at CAGR of 19.4% by 2018. The market was valued at US$3,080.8 mn in the year 2016 and is likely to reach US$4,067.8 mn by the end of 2018. With a CAGR of 18.5%, North America is likely to be the fastest growing region in the global epigenetic drugs and diagnostic technology market and is likely to hold 50% of the global revenue by 2018.
To maintain their market position and sustain growth, the key players are engaging in the development of innovative molecules and technologies. They are also entering into partnerships with other players for wider market reach.
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Due to the oligopolistic nature of the epigenetics drugs and diagnostic techniques market, players are trying to push their drugs for various oncological indications to fend off the competition. The three companies who were the only key competitors in the global epigenetics drugs and diagnosis technology market in 2011 are Celegene Corporation, Eisai Pharmaceuticals, and Merck. Celegene is expected to maintain its lead in the market with over 62% of the overall market as of 2018.
Increasing Need for Targeted Therapy for Cancer Patients to Boost Sales of Epigenetic Drugs and Diagnostic Technologies
Cancer is considered to be one of the leading causes of the numerous deaths, with nearly 13% of the total deaths occurring being attributed to cancer annually. According to a report published by World Health Organization, the number of deaths occurring due to cancer is expected to increase by 45% between 2007 and 2030. Thus, the use of epigenetic drugs is in demand for treating oncological conditions and also for the treatment of other diseases such as disorders of the central nervous system.
With the increase in the number of cancer patients worldwide, the need for epigenetic drugs and diagnostic techniques is also increasing as cancer is one of the major applications using epigenetic drugs for therapeutic treatments. Moreover, the increasing development in the applications of epigenetic drugs and investment in research and development activities for innovation of new drugs is also expected to boost the demand for epigenetic drugs and diagnostic technologies.
Genericization of Major Drugs to Cause Minor Slow Down in Sales of Epigenetics Drugs
Three of the four existing epigenetics drugs in the global market saw patent expiry in 2015. As a result of this, the genericized trademark of drugs such as Vidaza, Daocgen, and Zolinza will slow down the market of epigenetics drugs by pulling down their cost. Thus, the sales of these drugs will be substantially affected due to the significant decrease in their prices. According to TMR, due to the availability of new drugs, the impact of genericization will be mild in 2017 and 2018.
Targeted Therapies to Provide Growth Opportunities for Epigenetic Drugs Manufacturers
As epigenetics drugs have the capacity to modulate epigenetic factors, they are being considered as potential candidates for targeted therapies. Targeted therapies show better survival rates and are less toxic. With the development in various tools and technologies, DNMTs and HDACs are being considered as probable targets for therapeutics in treating maladies. Thus, the use of epigenetic drugs in targeted therapies is anticipated to provide potential growth opportunities for manufacturers of epigenetic drugs in the coming years.
The review is based on the findings of a TMR report titled, "Epigenetics Drugs and Diagnostic Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018."
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