Technological advancements in biomedical research coupled with increasing prevalence of chronic conditions such as cancer and diabetes is anticipated to drive the epigenetic market over the forecast period. Changing gene expression due to change in chromatin or DNA primarily drives the growth for this market. Favorable government policies and huge investment in R&D by both public and private sectors are likely to boost the market growth in coming seven years. Improving healthcare infrastructure and supportive medical insurance policies are expected to trigger the growth of epigenetic market over the forecast period. The emerging nations such as India, Brazil and China are anticipated to witness lucrative growth over the forecast period due to increasing number of Contract Research Organizations (CRO) and growing medical tourism.
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The product segment of epigenetic market was dominated by protein based enzyme in 2014 due to rising utilization in research field. On the basis of research area the oncology segment dominated the market owing to increasing application of oncology based treatment. CRO (Contract Research Organizations) accounts for the largest share in 2014. Due to growing research related outsourcing this market is expected to continue its dominance over the forecast period. Pharmaceuticals companies are anticipated to show significant growth rate due to growing adoption for treating the patients.
Geographically, North America was the dominant market region in 2014. Owing to introduction of technologically advanced products into the market coupled with investment in research, this region is expected to maintain its dominance over the next decade. Asia Pacific region is anticipated to be the fastest growing regional segment due to rising funding on research and growing incidence of cancer.
Due to the presence of large number of market players, the global epigenetic market is highly competitive in nature. Some of the major market players are Zymo Research, QIAGEN, Abcam, Active Motif, Illumina, Diagenode, Fisher Scientific, Inc., and New England Biolabs to name a few. Firms have adopted many strategies for the development of their business.
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