Market Research Report
Global Epigenetics Drugs & Diagnostic Technologies Market - 2019-2026
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|Global Epigenetics Drugs & Diagnostic Technologies Market - 2019-2026|
|Published: January 1, 2020||Content info:||
Global Epigenetics Drugs & Diagnostic Technologies Market Overview
The global Epigenetics Drugs & Diagnostic Technologies market was worth US $ billion in 2018 and is forecasted to reach US$ billion by 2026, at a CAGR of % during the forecast period.
Epigenetics is a process of changing the gene expression; it's a phenotype change without a change in genotype. The essential parts that are engaged with epigenetic interpretation are DNA methylation, histone changes, and non-coding RNA's. Epigenetics drugs and diagnostic technologies are used in the screening of early-stage cancer and other abnormal changes in liver cells, brain cells, skin cells, and others. With the rising awareness among people and rising incidences & prevalence of oncology and non-oncology disorders, the interest for epigenetic analysis and medications is growing at a high pace and boosting the global epigenetics drugs and diagnostics technologies market.
Global Epigenetics Drugs & Diagnostic Technologies Market - Market Dynamics
Rising prevalence of cancer and other chronic diseases along with growing geriatric population are the major factors driving the global epigenetics drugs & diagnostic technologies market. According to WHO, in 2018, there are an estimation of 18.1 million new cancer cases and 9.6 million deaths, about 1 in 6 deaths are due to cancer. Thus, growing cancer incidences are boosting the market growth.
Also, funding's by government organizations such as the National Cancer Institute (NCI), the International Human Epigenome Consortium (IHEC), and the National Institute of Health (NIH) to promote R&D activities is anticipated to propel the global epigenetics drugs & diagnostics market further. Further, increased attention of manufacturers towards the development of new epigenetics drugs is boosting the market growth.
Global Epigenetics Drugs & Diagnostic Technologies Market - Segment Analysis
Based on product, the global Epigenetics Drugs & Diagnostic Technologies market is broadly segmented as oncology and non-oncology segment. Oncology application segment accounted for major market share in 2018, owing to the growing prevalence of cancer. However, over the forecast period, non-oncology application segment is expected to grow at a high pace. It is due to R&D initiatives undertaken by private institutions and biopharmaceutical companies for identification of epigenetic markers related to non-oncology disorders. Non-oncology disorders include cardiovascular, infectious, and other disorders. Epigenetic modifications have been proved to be the base of metabolic, infectious diseases, neurodegenerative, and many other non-oncology disorders. Thus, growing non-oncology disorder segment is driving the global market.
Global Epigenetics Drugs & Diagnostic Technologies Market - Geographical Analysis
The global Epigenetics Drugs & Diagnostic Technologies market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region accounted for major market share in 2018, in the global epigenetics drugs & diagnostics technologies market. Presence of government funding programs for ongoing research activities, better healthcare facilities, and continuously increasing incidences of oncology and non-oncology diseases including metabolic, infectious, cardiovascular, and other diseases.
During the forecast period (2019-2026), the Asia Pacific region is projected to grow at a significant rate, owing to the rising disposable income, rising awareness about early diagnosis, and availability of effective treatment in emerging countries, such as India and China. Additionally, due to increasing cases of various types of cancers. Also, due to the presence of prominent players of the market, such as Eisai Pharmaceuticals and Oncolys Biopharma.
Global Epigenetics Drugs & Diagnostic Technologies Market - Competitive Analysis
Significant players of the global epigenetics drugs & diagnostic technologies market are Thermo Fisher Scientific., Merck & Company Inc., Novartis International AG, Astex Pharmaceuticals Inc., Celenge, CellCentric Ltd., Celeron Therapeutics Ltd., Chroma Therapeutics Ltd., Eisai Pharmaceuticals, Epigentek Group Inc., and others. The diversified product portfolio is the major factor that is responsible for strengthening the position of these companies in the market. Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase their share in the epigenetics drugs & diagnostics market. For instance, in