The global Epigenetics Market size is expected to reach USD 22.05 billion by 2025, according to a new study by Grand View Research, Inc., progressing at a CAGR of 19.7% during the forecast period. Growing prevalence of cancer and other diseases worldwide with epigenetic modification base is expected to drive the market during the forecast period.
Diagnostic companies are coming up with new products such as antibodies specific for detection of modifications and new upgraded kits for easy and efficient detection of biomarkers. This is estimated to attract pharmaceutical companies to collaborate for development of therapeutic drugs, which will work in favor of the market.
Presence of pipeline drugs and their expected commercialization is anticipated to boost the growth of the market. For instance, Ramucirumab (Cyramza) by Eli Lilly and Company was approved by FDA for use in combination with Folfiri for treatment of patients with metastatic colorectal cancer.
Technology advancements in the epigenetics industry are majorly focusing on detection of methylation markers related to cancer development. For instance, Epi proLung BL Reflex Assay by Epigenomics helps in diagnosis of lung cancer by determining methylation of SHOX2 biomarker gene.
Further key findings from the study suggest:
- On the basis of product, reagents held the largest share in the market in 2017. They are projected to amount to approximately USD 7.06 billion by 2025 owing to increasing R&D activities in the field of epigenetics
- The kits segment is expected to post a CAGR of over 20.0% due to need for rapid and accurate detection techniques
- DNA methylation, on the basis of technology, held the leading revenue share in the market in 2017, accounting for just over 47.0%. Rapid adoption of advanced techniques such as methylation sensitive PCR (MSP) to improve diagnostics efficiency is poised to bolster the growth of the segment
- North America commanded the leading position in the global arena with a share of 40.0% in 2017. The growth of the regional market can be attributed to increasing prevalence of cancer and growing collaborations between large pharmaceutical firms for development of improved therapeutics
- Asia Pacific is estimated to register a noteworthy CAGR of 22.1% during the forecast period owing to presence of large target population coupled with high unmet clinical needs
- Some of the major players of epigenetics market are Illumina; Abcam; Diagenode; Thermo Fisher Scientific; Merck; Zymo research; Qiagen; CellCentric Ltd; Chroma Therapeutics Ltd; Eisai Co. Ltd; Novartis International AG; Oncolys Biopharma Inc.; Syndax Pharmaceuticals, Inc.; Valirx Plc; and Sigma-Aldrich Corporation
- Extensive R&D initiatives for development of novel drugs and presence of strong product pipeline are expected to further boost market growth over the forecast period.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/epigenetics-market