by The epigenetics market involves products and services used to detect and analyze epigenetic modifications of DNA that regulate gene expression without altering DNA sequences. Epigenetic techniques enable diagnosis and treatment of various diseases such as cancer by unlocking genomic and epigenomic information through biological assays and kits and research tools. Advancing genomic technologies have increased application of epigenetic methods in pharmaceutical and biotechnology companies for drug discovery and development.
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 key trends:
Growing adoption of epigenetics techniques in precision medicine is one of the major trends witnessed in the market. Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. Epigenetic modifications play an important role in disease etiology and treatment response. Thus, epigenetic testing is being integrated with precision medicine strategies to develop targeted therapeutics. It helps understand why some treatments work for some patients but not others. This is expected to propel the demand for epigenetic tools and assays over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the epigenetics market requires high capital investments, strong R&D capabilities and expertise which new companies may lack.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market offers products catering to individual preferences. Buyers have choices across major brands.
Bargaining power of suppliers: Suppliers have moderate bargaining power given high input costs and stringent regulations for raw material supplies in the industry.
Threat of new substitutes: Substitutes are less likely as epigenetic products cater to specific needs with patented formulation or technologies.
Competitive rivalry: Competition in the market is high among major global players due to innovation and new product launches to gain market share.
Key Takeaways
The Global Epigenetics Market Share is expected to witness high growth over the forecast period 2023 to 2030. 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: Asia Pacific dominates the market and is expected to grow at the highest CAGR during the forecast period. Increasing funding for R&D activities related to epigenetics by China and India along with growing penetration of major brands will strengthen market growth in the region.
Key players: 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. Major players are focusing on new product launches through strategic partnerships to expand their regional footprint.
