In 2021, the size of the epigenetics market was about $1,564 million, and it is will advance at a mammoth growth rate of over 17% in the years to come, to reach a value of around $6,461 million by 2030. The factors affecting the growth of the industry include the fast development of simple, lucrative and advanced epigenetically kits and increasing acceptance of precision medicine all over the world.
The kits, assays, and reagents had over 60% share in the recent past. This is generally credited to the rapid expansion of simple, affordable, and innovative epigenetics kits and reagents. Also, there has been a surge in product launches, consciousness of non-oncological ailments and epigenetics, and prominence on the acceptance of precision medicine tactics recently.
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Oncology made a significant amount of revenue in 2021 for the reason of the momentous increase in the number of cancer cases every year. This will increase as the worldwide occurrence of cancer and related fatalities increase. Also, the industry will grow due to the product launches and the likely commercialization of the products by now thought about for the future.
Pharmaceutical & biotechnology corporations had the largest demand. This is because of the research and development actions on microorganism-derived drug resistance, molecular aspects of cancer, oncology, and drug discovery for non-oncology purposes. Also, the growth would be powered by the growing research in genetics, with a strong prominence on modified treatment.
In 2021, North America had the highest revenue. The dominance is because of the existence of innovative healthcare infra and well-known companies following research and development in epigenetics, increasing count of cancer patients, and snowballing acceptance of products based on cutting-edge molecular know-hows by pharmacological and biotechnological corporations. Also, a great importance on epigenetics biomarker research like on DNA, histones, and non-coding RNA, will support the regional market growth.
Europe followed North America epigenetics market with over 25%, in the recent past because of the surge in the incidence of chronic diseases that require detailed diagnosis. More than a few European countries like France, Germany, the U.K., Spain, and Italy are working tirelessly for improving research initiatives. Further, because of the high backing, the European region has at all times been at the frontrunner of research and diagnostics globally.
APAC will witness the highest growth rate of over 15%, in the years to come. The growing healthcare consciousness, a stable economy leading to a firming emphasis on research, and extensive acceptance of NGS- and PCR-based diagnostic assays and kits will boost the industrial growth. Moreover, because of the high cancer incidence, pharmaceutical and biotechnology businesses are ensuring adequate healthcare amenities in the region.
The increasing incidence of cancer has a major role to play in the increasing demand for epigenetic processes.
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