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Epigenetics is Estimated to Witness High Growth Owing to Increasing Research and Development

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Epigenetics refers to changes in organisms caused by gene expression or regulation, rather than changes in the underlying DNA sequence. Epigenetic processes are responsible for cell differentiation, development, and tissue-specific gene expression. Epigenetics technologies are majorly applied in oncology research for better understanding of cancer initiation and progression. The increasing research activities and funding from both public and private organizations is driving the growth of the epigenetics market.

 

The global Epigenetics Market is estimated to be valued at US$ 14.8 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Opportunity:

 

The increasing research and development is one of the major opportunities for the growth of epigenetics market. Significant investments from both government as well as private sectors are being made for epigenetic research projects. For instance, in 2020, National Institutes of Health awarded over US$ 200 million grants for various epigenetics research proposals. Moreover, private research institutes and pharmaceutical companies are also focusing on epigenetic-based drug development for various chronic diseases like cancer. The increasing funding and research initiatives will help in better understanding of mechanism involved in various diseases, thereby developing novel therapeutic solutions. This is expected to drive the demand for various epigenetics technologies and kits, thus fueling the market growth over the forecast period.

 

Porter's Analysis

Threat of new entrants: The epigenetics market requires substantial R&D investments and regulatory approvals, which act as a deterrent for new entrants. However, collaboration with established players could help overcome these barriers to some extent.

Bargaining power of buyers: Individual consumers have moderate bargaining power due to the availability of substitute treatment options. However, pharmaceutical companies and research organizations are major buyers with significant influence on pricing.

Bargaining power of suppliers: Key suppliers including technology providers and raw material manufacturers have moderate-to-high bargaining power due to limited availability and differentiation in their offerings.

Threat of new substitutes: Emerging technologies like gene therapy and targeted drug therapy pose a threat of substitution for existing epigenetic approaches.

Competitive rivalry: Intense rivalry exists amongst leading players to gain more market share through new product launches and geographic expansions.

 

SWOT Analysis

Strengths: Growing prevalence of cancer and other chronic diseases drives demand. Epigenetic approaches aid in better diagnosis and precision medicine.

Weaknesses: High costs involved and lengthy development and approval timelines. Technical challenges in deciphering epigenetic codes and interactions.

Opportunities: Application scope is widening in immunotherapy, aging research, and agriculture. Collaborations expand capabilities and geographical reach.

Threats: Ethical issues around human epigenome editing. Stringent regulations delay commercialization. Patent cliff of blockbuster drugs increases competition.

 

Key Takeaways

The Global Epigenetics Market Share is expected to witness high growth over the forecast period supported by rising R&D investments from key players. Increasing incidence of chronic diseases and advancements in precision medicine provide impetus to adoption of epigenetic tools. The global Epigenetics Market is estimated to be valued at US$ 14.8 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

Regional analysis for epigenetics is dominated by North America, led by the US. Significant research funding and presence of global market leaders drive the American epigenetics market. Asia Pacific is poised to be the fastest-growing regional market, led by China, India, and Japan. Growing biotech research expenditures and improving diagnostic infrastructure fuel market opportunities.

Key players operating in the epigenetics market are L€TMOreal S.A, Procter and Gamble Company (P&G), Estee Lauder Companies Inc., The Unilever Plc, Shiseido Co. Ltd., Johnson and Johnson Limited, Kose Corporation, and Kao Corporation. These companies focus on expanding their service and product portfolios through partnerships and new product launches


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https://www.trendingwebwire.com/epigenetics-market-size-share-growth-outlook-2023/

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