New York , Nov. 07, 2023 (GLOBE NEWSWIRE) -- The global epigenetics market size is poised to grow at a CAGR of over 17% from 2023 to 2035. The market is anticipated to garner a revenue of USD 5 billion by the end of 2035, up from a revenue of USD 2 billion in the year 2022. This growth of the market is projected to be influenced by the rising prevalence of infectious disease. For instance, as per World Health Organization prediction, globally, 10.6 million cases of tuberculosis (TB) were reported in 2021. There are roughly 1.2 million children, 3.4 million women, and six million males. Hence, epigenetic modifications are increasingly becoming recognized as significant in the pathophysiology of viral illnesses.
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Moreover, increasing global spending on healthcare research and development is set to fuel the market's expansion over the projected timeframe. For instance, according to the dataset OECD Health Statistics 2023, preliminary estimates for a group of 20 countries indicate that health spending increased by about 6% on average in 2021. Consequently, with this the market revenue is also projected to rise in coming years.
Epigenetics Market: Key Takeaways
- Market in North America region to propel the highest growth
- The Pharmaceutical & Biotechnology Companies segment to garner the highest growth
- Market in Asia Pacific region to grow at the highest rate
Rising Geriatric Population to Boost the Growth of Global Epigenetics Market
According to the World Health Organization, by 2030, one in every six persons on the planet will be 60 or older. This will result in a rise in the proportion of people over 60 from 1 billion in 2020 to 1.4 billion at this point. The number of individuals 60 years of age and over will double (to 2.1 billion) worldwide by 2050. It is believed expected ageing can worsen neurological and cardiovascular illnesses since it is thought to be the primary cause of these conditions. In addition, the aging process reduces immunity and raises the risk of contracting infectious diseases. As a result, the demand for the market is surging.
Epigenetics Industry: Regional Overview
The global epigenetics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Disposable Income to Drive the Market Share in North America
The epigenetics market in North America is predicted to capture the largest market share of 35% over the forecast period. The major element to dominate the market share in this region is rising disposable income. For instance, in September 2023, the United States' disposable personal income jumped to about 20326 USD billion, up from close to 20270 USD billion in August 2023. Hence, their spending on various therapies is estimated to rise which would additionally drive the market growth in this region.
The surge in Prevalence of Diabetes to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for epigenetics is poised to capture a notable share of ~27% in the market over the projected period. This growth in this region is projected to be driven by a surge in prevalence of diabetes. For instance, Asia was home to approximately 59% of the world's population with type 2 diabetes in 2021, mostly in China and India. Hence, there has been growing attention to creating epigenetic-based treatments to treat type 2 diabetes in this region since epigenetics plays a significant role in the onset and course of the disease.
Epigenetics Segmentation by End User
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
The pharmaceutical & biotechnology companies segment is estimated to have significant growth in the market over the forecast period. The major element to influence the segment expansion is rising investment in drug-related research. President Joe Biden estimates to allocate USD 4 million in the fiscal year 2024 budget for NASA to conduct research on cancer aboard the International Space Station.
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Epigenetics Segmentation by Application
- Oncology
- Autoimmune Diseases
- Metabolic Diseases
- CNS/Pain Diseases
- Cardiovascular Diseases
The cardiovascular diseases segment is set to capture a notable share of the market over the coming years. This growth of the segment could be on account of the rising prevalence of cardiovascular disease. For instance, cardiovascular disease (CVD) deaths climbed from about 11 million in 1990 to close to 19 million in 2021 on a global basis. Being the greatest cause of mortality globally in 2021, cardiovascular disease (CVD) accounted for about 3 out of every 5 fatalities in low- and middle-income nations (LMICs).
Epigenetics Segmentation by Product
- Kits & Reagents
- Enzymes
- Instruments
Epigenetics Segmentation by Technology
- Methylation
- Acetylation
- Phosphorylation
- Others
A few of the well-known market leaders in the global epigenetics market that are profiled by Research Nester are Abcam PLC, Diagenode Inc., Merck KGaA, Element Biosciences, Inc., PacBio, Active Motiff, Illumina Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., EpiGentek Group Inc., and others.
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Recent Development in the Market
- Together with Dovetail Genomics, creators of an innovative and game-changing DNA sequencing platform, Element Biosciences Inc. On the AVITI System from Element Biosciences, a demonstration of Dovetail's proximity ligation-based library preparation methods for next-generation sequencing will take place.
- DNA methylation detection is now possible with PacBio's Sequel lle and Sequel Il systems, which are developed by a prominent provider of high-quality, highly accurate sequencing solutions. Methylation is a form of chemical change to DNA that can affect gene expression. These new technologies can identify specific sections of the genome that have undergone methylation.
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