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Rising adoption of epigenetics-based therapies to boost the growth of Epigenetics Market

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Gauri Cmi
Rising adoption of epigenetics-based therapies to boost the growth of Epigenetics Market


The global Epigenetics Market is estimated to be valued at US$ 14.80 Bn in 2023 and is expected to exhibit a CAGR of 1.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Epigenetics refers to the study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself. Epigenetics helps understand how the environment can turn our genes on or off and affect our health. It plays a key role in cellular differentiation, development & tissue formation. Technologies like Methylation-specific PCR, DNA methylation arrays, whole genome bisulfite sequencing helps understand epigenetic modifications. With advancements, epigenetics is pivotal in developing safer & effective therapies for diseases like cancer, neurological disorders.

Market key trends:

Adoption of epigenetics-based approaches is increasing as they offer safer therapeutic options compared to gene therapies. Epigenetic drugs help modulate gene expression and show potential against various cancers. Growing R&D focusing on DNA methylation & histone modifications based therapies is a major trend. Technologies like Nanopore sequencing are improving genome-wide epigenetic profiling. Integration of epigenetics with multi-omics is allowing comprehensive analyses. Such advancements are expected to boost application of epigenetics in drug development, disease diagnostics & personalized medicine over the forecast period.

Porter’s Analysis

Threat of new entrants: The biotech industry requires high R&D and capital investment for product development. This poses a significant barrier to new entrants.

Bargaining power of buyers: There exist many global biotech companies in the epigenetics market developing innovative products. This gives buyers higher bargaining power to negotiate on price.

Bargaining power of suppliers: Few global players dominate the supply of instruments, reagents and kits. This gives them higher negotiating power.

Threat of new substitutes: Advancements in omics fields like proteomics and genomics can offer substitute solutions. However, alternatives have limitations that epigenetics helps address.

Competitive rivalry: The market comprises large global players and startups driving core technology innovation. Intense competition exists to commercialize differentiated, cutting-edge solutions.

Key Takeaways

The Global Epigenetics Market is expected to witness high growth, exhibiting CAGR of 1.0% over the forecast period, due to increasing application in disease diagnosis and personalized therapeutics development.

The North American region currently dominates the epigenetics market owing to growing prevalence of cancer and availability of advanced healthcare infrastructure and R&D funding. Asia Pacific is anticipated to be the fastest growing market on account of rising healthcare spending, growing epigenetics conferences, and increasing collaborations between academic and research institutes.

Key players operating in the epigenetics market incorporate Active Motif, Inc., Zymo Research, Thermo Fisher Scientific Inc., QIAGEN N.V., Merck Millipore, and Illumina Inc. Leading players are focusing on launching innovative products to consolidate their market share through collaborative agreements.

 

Read More: https://www.ukwebwire.com/epigenetics-market-analysis-size-and-share/


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Gauri Cmi
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