Allied Market Research published a report, titled, “Epigenetics Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023.” According to the report, the global epigenetics market garnered $555 million in 2016, and is expected to reach $1,321 million by 2023, registering a CAGR of 13.1% from 2017 to 2023. The report offers a detailed analysis of changing market dynamics, key market players, major segments, and competitive landscape.
The research provides a detailed analysis of drivers, restraints, and opportunities of the global epigenetics market. Surge in cancer prevalence, increase in funding & aids for R&D activities, and rise in collaboration between academic, pharmaceutical, and biotechnology companies drive the growth in the market. Moreover, widening applications of epigenetics in non-oncology diseases supplement the growth. However, high initial cost of instruments and scarcity of trained professionals limit the growth of this market. Moreover, untapped potential in emerging economies offer lucrative opportunities in the market.
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The report offers a detailed analysis of key segments of the global epigenetics market based on product, application, end user, and geography. According to the report, the DNA-modifying enzymes segment garnered the highest revenue in the market in 2017. Moreover, the kits & assays product segment accounted for the highest share in epigenetics product market, owing to their utilization and need during the protocol and other pre-requisite steps required for DNA analysis. The next-generation sequencers segment experienced the highest growth rate, and contributed to more than half of the total market share in 2017, and is expected to maintain its dominance throughout the forecast period. This is due to increase in usage of the technology for the epigenetic investigations to achieve expected objectives. Currently, the oncology segment dominates the market in terms of revenue and is estimated to register a CAGR of 12.8% during the forecast period.
Geographically, the report analyzes the market into North America, Asia-Pacific, Europe, and LAMEA. The Asia-Pacific market is expected to experience the highest growth during the forecast period, owing to the increase in epigenetic drug discovery, rise in prevalence of cancer, and technological advancements in epigenetics research. The untapped potential of emerging economies including China and India would offer opportunities for market expansion.
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Key Findings of the Epigenetics Market:
- The kit & assays product segment is expected to register the highest CAGR during the forecast period, 2017–2023.
- Based on applications, the oncology segment would register the highest growth rate during the forecast period.
- The academic & government research institutes segment garnered the highest revenue in 2017 and is expected to maintain its dominant share in the future.
- North America contributed the highest market share in the global epigenetics market and is estimated to grow at a CAGR of 12.3% during the forecast period. However, Asia-Pacific would experience the highest growth rate from 2017 to 2023.
The major companies analyzed in the research include Abcam plc., QIAGEN N.V., Illumina, New England Biolabs, Inc., Merck & Co., Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, Active Motif. Diagenode, Inc., and Zymo Research Corporation.
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