The Europe Epigenetics Market would witness market growth of 14.1% CAGR during the forecast period (2022-2028).
The Epidemiology and Genomics Research Program (EGRP) provides funding for research-related activities. The growing need for personalization in healthcare due to genetic variations, expanding application in non-oncology diseases, and target therapy is expected to provide market players with growth opportunities in the coming years. Additionally, private institutions are sponsoring, R&D projects and biopharmaceutical businesses are driving the market growth for the detection of a biomarker for medication development and disease. Furthermore, the growing geriatric population in various parts of the world is likely to support the expanding industry. However, the instruments' high initial and ongoing costs prove to be a substantial impediment to commercial expansion. The epigenetics market faces significant hurdles, such as a dearth of skilled specialists and worries about the quality of antibodies.
In addition, the market is driven by an increase in cancer, infectious diseases, and genetic abnormalities. Drugs created via extensive epigenetic research effectively treat a specific form of cancer, lowering treatment costs and allowing treatment to be delivered at affordable prices in developing and underdeveloped countries. When compared to standard cancer treatments, epigenetics offers targeted therapeutic actions that target only the host's damaged and malignant cells.
One of the key trends in the regional market is the growing geriatric population. In this region, R&D projects connected to the investigation of epigenetic bases in various diseases are on the rise. The EpiGen Research Consortium, located in the United Kingdom, has expanded its studies facility in Singapore for chronic disease research, including diabetes and obesity.
Some of the growth catalysts for the market the rising incidence and frequency of cancer, increased investment for R&D in healthcare, and rising epigenetic applications in non-oncology disorders. According to the World Health Organization, cancer causes more than 3.7 million new cases and 1.9 million deaths each year, making it the second leading cause of death and illness in the European region.
The market for cancer genetics has seen a golden period in recent years. The cost of gene sequencing has come down to the point where researchers can analyze the genomes of tens of thousands of patients, comparing the DNA of diseased and healthy tissues to uncover mutations linked to tumor formation and growth, which is linked to cancer. Epigenetic advancements are quietly constructing a toolbox for strong cancer-fighting medications. Therefore, these aspects are expected to accelerate the growth of the Epigenetics Market over the forecast years.
The Germany market dominated the Europe Epigenetics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $185.4 Million by 2028. The UK market is experiencing a CAGR of 13.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 14.9% during (2022 - 2028).
Based on Application, the market is segmented into Oncology and Non-Oncology. Based on Product, the market is segmented into Kits, Reagents, Enzymes, and Instruments. Based on End User , the market is segmented into Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Contract Research Organizations. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Epigenetics Market Size will Hit $2.9 Billion by 2028, at a CAGR of 14.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abcam plc, Agilent Technologies, Inc., Hologic, Inc., Illumina, Inc., Merck Group, PerkinElmer, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., Zymo Research, and Active Motif, Inc.
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