According to a new market research report "Epigenetics Market by Product (Kit, Enzymes, Reagent, NGS, Mass Spectrometer, PCR, Bioinformatics), Application (Oncology, Cardiology, Immunology), Technology (DNA Methylation, Histone Modification), End User (Academic, CRO) - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 1,605.7 million by 2022 from an estimated USD 854.0 million in 2017, at a CAGR of 13.5% during the forecast period.
Kits Segment Accounted for the Largest Share of the Global Market, by Product
On the basis of product, the kits segment accounted for the largest share of the Global Epigenetics Market in 2016. This can be attributed to the fact that a large number of kits are used in various epigenetic techniques. The rising prevalence of a number of diseases, increasing R&D spending, and increased government funding for life science research are the other factors expected to support market growth.
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Among the Application Segments, Oncology Dominated the Global Epigenetics Market
Based on application, the oncology segment accounted for the largest share of the Epigenetics Market in 2016. The large share of this segment can be attributed to the rising prevalence of cancer and the increasing number of research-related activities.
DNA Methylation Segment Dominated the Epigenetics Market, by Technology
On the basis of technology, the Epigenetics Market is segmented into DNA methylation, histone modifications, and other technologies (includes non-coding RNA and chromatin remodeling). The DNA methylation segment accounted for the largest share of the Global Epigenetics Market in 2016. The large share of this segment is attributed to the increasing incidence of cancer and the ability of this technique to study different types of cancer with quality outcomes.
North America Dominated the Global Epigenetics Market
North America accounted for the largest share of the Epigenetics Market in 2016, followed by Europe. Increase in epigenetics research activities, favorable government funding initiatives, high R&D expenditure, rising incidence of various diseases, and the presence of key players in the region are the key factors driving the growth of the Epigenetics Market in North America.
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The major players in the Global Epigenetics Market are Illumina (US), Thermo Fisher (US), Diagenode (Belgium), QIAGEN (US), Merck Millipore (US), Abcam (UK), Active Motif (US), New England Biolabs (US), Agilent (US), Zymo Research (US), PerkinElmer (US), and Bio-Rad (US).
Illumina dominated the global epigenetics market in 2016. The company provides sequencing and array-based solutions for genetic analysis. It develops, manufactures, and markets integrated systems and life science tools for the analysis of genetic variation and biological function. Illumina operates through 26 subsidiaries located in the US, the UK, and other countries in Europe and the Asia Pacific regions. In order to achieve high growth and increase its customer base, the company focuses on organic and inorganic strategies such as product launches, collaborations, and agreements.