Epigenetics Market To Gain Demand Quickly Due To Increasing Prevalence Of Cancer Till 2022: Grand View Research, Inc.
The global epigenetics market is expected to reach USD 16.31
billion by 2022, according to a new report by Grand View Research, Inc. Growing
worldwide prevalence of cancer and other diseases with epigenetic modification
base is expected to drive market growth during the forecast period.
Diagnostic companies are coming
up with new products such as antibodies specific for the detection of
modifications and new upgraded kits for easy and efficient detection of
biomarkers. This is expected to attract pharmaceutical companies to collaborate
for the development of therapeutic drugs.
Presence of pipeline drugs and
their expected commercialization is anticipated to boost penetration rates over
the forecast period. For instance, Ramucirumab (Cyramza) by Eli Lilly and
Company was approved by the FDA for use in combination with Folfiri for the
treatment of patients with metastatic colorectal cancer.
Technology advancements in the field
of epigenetics especially pertaining to the detection of methylation markers
related to cancer development is expected to improve usage rates during the
forecast period. For instance, Epi proLung BL Reflex Assay by Epigenomics helps
in the diagnosis of lung cancer by determining methylation of SHOX2 biomarker
gene.
U.S. epigenetics market, by
product, 2012-2020, (USD Million)
Browse full research report on
Epigenetics
Market
Further key findings from
the report suggest:
- Epigenetic
reagents was the largest market valued at over USD 1.2 billion in 2014
owing to the increasing amount of R&D investments and high consumption
rates. Kits are expected to gain rapid growth in demand due to the
increasing need of rapid and accurate detection techniques.
- DNA
methylation was the largest technology segment accounting for over 47.0%
revenue in 2014. The introduction of technological advancement such as
Methylation Sensitive PCR (MSP) and rapid adoption of these products to
improve diagnostics efficiency are some factors attributing for its
largest share.
- Oncology was
the largest application market, with revenue valued at over USD 2.75
billion. Growing prevalence of cancer with epigenetic modification base
and strong product pipeline are some factors attributing to its market
position.
- Non oncology
segment is anticipated to register the fastest growth of over 20.0% during
the forecast period. The segment is dominated by metabolic diseases owing
to, the growing base of population suffering from diabetes and organ
failure and increasing prevalence of sedentary lifestyle.
- North America
was observed to be the largest regional epigenetics market accounting for
over 38.0% of the overall revenue, due to factors such as the increasing
cancer prevalence, increasing amount of funding for R&D, growing
collaborations between large pharmaceutical firms for development of
improved therapeutics, high patient awareness levels.
- The Asia
Pacific market is estimated to witness lucrative growth over the forecast
period owing to, the presence of large prevalence of target diseases and
high unmet medical needs
- Some key
players of the epigenetics market include Illumina, Abcam, Diagenode,
Thermo Fisher Scientific, Merck, Zymo research, Qiagen, CellCentric Ltd,
Chroma Therapeutics Ltd, Eisai Co. Ltd, Novartis International AG, Oncolys
Biopharma Inc., Syndax Pharmaceuticals, Inc., Valirx Plc and Sigma-Aldrich
Corporation.
- Extensive
R&D initiatives aimed at the development of novel drugs and the
presence of strong product pipeline is expected to further boost market
growth over the forecast period.
For
more information: http://www.grandviewresearch.com
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