Epigenetics Market size is estimated to exhibit a significant growth from 2022 to 2028 owing to the rising incidences of cancer as well as other chronic disorders across the globe. As per the World Health Organization (WHO) statistics, around 35 million people die due to chronic diseases every year. The treatment solutions for these diseases are now largely based on epigenetics as they offer more effective results. Epigenetics involves the study of the changes in gene function that are inherited and are not subject to the alterations of DNA sequence.
The increased adoption of these treatment solutions coupled with rising investments in R&D activities and collaborations between pharmaceutical, biotechnology companies, and academic institutes will augment the statistics of epigenetics market over the coming years.
With regards to product, bioinformatics segment is projected to witness considerable growth during the forecast timeline with the increasing acceptance for DNA sequence comparison which helps in analyzing the differences at gene level across various species and organisms. Comparative genomics essentially uses bioinformatics to trace the genes in numerous species and study their differences and similarities. With the increasing usage of epigenetic technology, DNA methylation, the industry is anticipated to record considerable growth from bioinformatics segment.
In terms of application, epigenetics market is predicted to record substantial growth from immunology segment through 2028 with the increasing cases of autoimmune diseases. According to the Autoimmune Registry Inc. data, around 15 to 30 million people in the U.S. suffer from an autoimmune disease which has made it the largest class of ailments in the country. Epigenetics is now being considered as an effective treatment solution for these diseases as it plays a crucial role in the functioning and development of the immune system. This is expected to provide ample growth opportunities for the segment during the forecast period.
Epigenetics market is slated to observe significant growth in North America on account of the increasing cases of cancer as well as cardiovascular diseases in the region. The increasing government investments towards cancer care will further foster the growth of the regional market. Citing an instance, the Canadian government announced in 2021 to allocate USD 18 million in addition to the ongoing investments in cancer care such as funding for cancer therapy and supporting travel and accommodation for the patients.
The major players active in global market include Thermo Fisher, Qiagen, Illumina, Diagenode, Active Motif, Abcam, Agilent, PerkinElmer, Zymo Research, and Bio-Rad. These companies are inclined towards the development of innovative solutions and are investing heavily in R&D activities to gain a competitive edge in the market.
For instance, in 2020, Agilent launched SureSelect XT HS2 DNA Kit which has been designed for addressing the major challenges encountered by laboratories while preparing DNA sequencing libraries for their research. The company claims that the new product is state-of-the-art in library preparation and target enrichment which provides a complete solution to the researchers to choose workflow options according to their needs.
The global outbreak of COVID-19 crisis has made a positive impact on the industry outlook as the pandemic has opened lucrative growth opportunities for market players. Numerous research institutes are studying epigenetic factors that interfere with viral infection and replication that might increase the risk of COVID-19. Such ongoing research studies coupled with their potential use in the development of effective treatment again coronavirus will positively influence the business space in the coming years.
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