Epigenetics Market Worth $4.3 Billion | MarketsandMarkets

CHICAGO, Dec. 13, 2023 /PRNewswire/ -- Epigenetics Market in terms of revenue was estimated to be worth $1.8 billion in 2023 and is poised to reach $4.3 billion by 2028, growing at a CAGR of 18.3% from 2023 to 2028 according to a new report by MarketsandMarkets. The growth of the market is projected to be driven by factors such as rising investment in R&D, declining sequencing cost & time, favourable government initiatives & funding for epigenetics research, advancement in technology for epigenetic research and increasing demand for epigenetic-based therapeutics.

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Epigenetics Market Scope:

The kits & reagents segment is expected to have the dominant share of the epigenetics market in 2022.

Based on technology, the global epigenetics market is segmented into kits & reagents, enzymes, instruments and accessories, software, and service. The kits & reagents is further segmented into antibodies, chip-sequencing kits & reagents, whole-genome amplification kits & reagents and 5-HMC & 5-MC Analysis kits & reagents, histones and other kits & reagents. In 2022, the Antibodies segment held the largest share of the epigenetics market. The rising adoption of antibodies in detection, identification, and alteration/modification of proteins followed by their role in monitoring cell regulation & expression are the driving factor for the growth of the antibodies segment during the forecast period.

The DNA methylation segment accounted for the largest share of the method segment in the epigenetics market in 2022.

Based on disease indication, the epigenetics market is segmented DNA methylation, histone modifications, and other methods (non-coding RNA and chromatin remodelling). The DNA methylation segment is anticipated to grow at significant CAGR during the forecast period owing to factor such as efficacy of the DNA methylation technique in oncology studies.

The Asia Pacific region is the fastest-growing region of the epigenetics market in 2022.

The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the epigenetics markets in the region is driven by the expanding international presence of domestic players by adopting strategic agreements, partnerships, and collaborations and Improving healthcare infrastructure in developing Asia Pacific economies.

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Epigenetics Market Dynamics:

Drivers:

1.  Growing investments in research & development

2.  Declining sequencing costs & time

3.  Favorable government initiatives and funding for epigenetics research

4.  Technological advancements in epigenetics research

5.  Rising demand for epigenetic-based therapeutics

Restraints:

1.  Limited applications of epigenomic data in toxicology

2.  Data privacy concerns and security issues

Opportunities:

1.  Expanding applications of epigenetics

2.  Integration of artificial intelligence and machine learning algorithms

Challenge:

1.  Concerns regarding quality of antibodies

2.  Challenges associated with epigenetic editing

Key Market Players of Epigenetics Industry:

The epigenetics market is moderately consolidated, with a small number of players competing for market shares.  Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Illumina, Inc. (US), PacBio (US), Abcam plc (UK), Active Motif, Inc. (US), Bio-Rad Laboratories Inc. (US), Promega Corporation (US), Revvity (US), Qiagen (Germany), New England Biolabs (US), Zymo Research Corporation (US), Diagenode SA (US), F. Hoffmann-La Roche Ltd (Switzerland) and Epigentek Group Inc. (US) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, and agreements, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 60%, and Demand Side - 40%
• By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%
• By Region: North America: 40%, Europe: 27%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa: 3%

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Epigenetics Market Recent Developments:

• In August 2023, PacBio (US) acquired Apton Biosystems (US) to accelerate the development of a next-generation, high-throughput, short-read sequencer.
• In March 2022, Thermofisher Scientific Inc (US) launched the CE IVD Marked Next Generation Sequencing Instrument designed to be used in in clinical laboratories to perform both diagnostic testing and clinical research on a single instrument
• In January 2022, Illumina, Inc. (US) entered into an agreement with SomaLogic (US) to introduce SomaScan Proteomics Assay in high throughput next-generation sequencing (NGS) platforms manufactured by Illumina

Epigenetics Market - Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall epigenetics market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (growing investment in research & development, declining sequencing cost & time, favorable government initiatives and funding for epigenetics research, technological advancements in epigenetic research and rising demand for epigenetic-based therapeutics), restraints (Limited application of epigenomic data in toxicology, data privacy concern and security issues associated with management of large scale- epigenetic data ), opportunities (Expanding application of epigenetics and integration of artificial intelligence and machine learning algorithm) and challenges (Concerns Regarding the Quality of Antibodies, Challenges associated epigenetics editing, off target effect) are influencing the growth of epigenetics market.
• Product Development/Innovation: Detailed insights on newly launched products of the epigenetics market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the epigenetics market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the epigenetics market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Illumina, Inc. (US), PacBio (US), Abcam plc (UK), Active Motif, Inc. (US), Bio-Rad Laboratories Inc. (US), Promega Corporation (US), Revvity (US) and Qiagen (Germany).

Related Reports:

Research Antibodies & Reagents Market - Global Forecasts to 2028

Genomics Market - Global Forecasts to 2028

Next Generation Sequencing (NGS) Market - Global Forecasts to 2027

Molecular Biology Enzymes Market - Global Forecasts to 2026

Western Blotting Market - Global Forecasts to 2026

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