The growth in epigenetics market is primarily attributed to decreasing sequencing costs, increasing research activity, funding for epigenetics research, rising prevalence of cancer and growing applications of epigenetics in non-oncology diseases. Expanding application areas of epigenetics in non-oncology diseases, personalized medicine, and target therapy are expected to provide growth opportunities for players operating in the epigenetics market in the coming years.
Growing applications in Personalized Medicine and Targeted Therapy in Oncology is a growth opportunity for the Epigenetics Market
According to a press release published by the Tufts Center for the Study of Drug Development in May 2015, biopharmaceutical companies have nearly doubled their R&D investments in personalized medicine over the last five years, and these investments are further expected to increase by 33% over the next five years. This will further drive the use of epigenetics tools. A 2016 study performed to analyze the epigenetic modification of chronic lymphocytic leukemia (CLL) in the patient population fueled interest in prognostic biomarkers and personalized therapies. This study was performed by CeMM Research Center for Molecular Medicine of the Austrian Academy of Science (Austria) in collaboration with the University of Southampton and the Royal Bournemouth Hospital under the European BLUEPRINT project and the International Human Epigenome Consortium. The expanding application of epigenetics in personalized medicine and targeted therapies, therefore, offers significant opportunities for market growth.
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Major Market Developments:
- In July 2017, Agilent launched AriaDx Real-Time PCR System
- In June 2017, Illumina launched Extended RAS Panel, a NGS kit
- In January 2017, Illumina entered into an agreement with Koninklijke Philips (Netherlands) to integrate Ilumina’s sequencing systems with Philips’ IntelliSpace Genomics clinical informatics platform for oncology
The global epigenetics market is projected to reach USD 1.60 billion by 2022 from USD 0.85 billion in 2017, growing at a CAGR of 13.3%.
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