PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1461231
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1461231
The global epigenetics market is projected to witness a CAGR of 14.73% during the forecast period 2024-2031F, growing from USD 1.54 billion in 2023 to USD 4.61 billion in 2031F. Various factors shape the global epigenetics market, these include exposure to external stimuli, heightened awareness of genetic testing, increased focus on research, the use of epigenetics for early disease detection, biotechnology companies raising funds, the growing popularity of AI-based software, and the growing use of epigenetics for the treatment of cancer.
Major companies in the global epigenetics market are heavily investing in research and development, especially in high-income countries, to promote advancements in the epigenetics industry. The increased exposure of the public to harmful chemicals, such as pesticides and heavy metals, poses a significant threat to their health and well-being by tampering with the DNA and its repair process, leading to mutation in the genes and illnesses. The increased number of illnesses has boosted the need for epigenetic testing assays and kits, further propelling the expansion of the global epigenetics market.
Artificial intelligence is capable of documentation, elucidation, and forecasting of data obtained in the epigenetics sector. The use of AI-based software has transformed the research methods in the field and resulted in boosting innovation and development in the global epigenetics market. In patients suffering from malignant and untreatable cancer, epigenetics has become an important treatment alternative that helps in reversing genetic aberrations that occur in cancer. Applications of epigenetics expand beyond cancer, such as the formation of tailored medicines and early detection of chronic diseases, which, in turn, have led to significant growth in the global epigenetics market.
For example, in January 2024, a genomic medicine startup, Moonwalk Biosciences announced that the company had raised a fund of USD 57 million through Series A fundraising. Through the funding, the company aims to move the products in the epigenetic pipeline and development of epigenetic engineering technology and profiling platform.
Increased Focus on Research
Major companies in the epigenetics industry are investing heavily in research activities to foster innovation, thereby boosting the growth of the global epigenetics market. The potential of epigenetics for discovering new treatment options for diseases, especially diseases short of effective therapies, has garnered attention of the investors. Also, an increased number of research activities has led to the development of new and advanced products that can be used in the treatment of cancer and other chronic diseases. These medications target blood biomarkers in cancer cells, thus representing one of the key factors contributing to the global epigenetics market growth.
For instance, the National Institute of Health (NIH) awarded a grant of USD 374,000 for three years for research focused on epigenetics in June 2022. In this research, the epigenetic changes occurring in many generations of a roundworm are being studied to shed light on epigenetic inheritance for disease and health.
Use in Early Disease Detection
Epigenetics is extremely useful in the early detection of diseases since the underlying causes of a disease can be very well understood by the insights proposed by epigenetics, which give out various reasons for mutations in gene expression that are a result of factors other than changes in the DNA sequence. Epigenetic study aids in decrypting the alterations caused by the epigenetic factors in cell specialization, gene expression, and tissue development processes to help understand the nature of the disease. It is a highly useful method of treatment for a wide range of diseases, including cancer, neurological, and cardiovascular disorders.
For instance, in January 2024, Barts Health NHS Trust and Queen Mary University of London announced their aim to investigate the early signs of disease using AI technologies through a £3 million (USD 3.78 million) partnership. The companies will focus on exploring the capacity of blood markers on DNA.
Growing Popularity of AI-Based Software
Gene is a storehouse of complex information and is responsible for the synthesis of many RNA transcripts and proteins. AI-based epigenetic software can easily manage the data stored in the gene because of its ability to analyze composite epigenetic data with precision and efficiency. The software can easily detect any abnormalities in data and predict the outcome of the disease, boosting the demand for AI-based software in the global epigenetics market. By combining multiomics data, AI can be used in combination with epigenetic information to provide customized solutions that fit each patient's unique genetic profile. The growing popularity of AI-based software will drive the growth of the global epigenetics market.
For example, FoxO Technologies Inc., an epigenetic biomarker company, announced its partnership with KR8,ai Inc. in January 2024 to secure the license for VITHAR AI Health Coach, KR8's AI-based software that provides epigenetic wellness solutions.
Increased Product Usage for Treating Cancer
Epigenetics is increasingly being used in the treatment of cancer, which is bolstering the growth of the global epigenetics market. Several factors are responsible for the growing preference for epigenetics to cure cancer. Firstly, epigenetic drugs are desirable in the personalized cancer treatment of patients who are resistant to certain drugs because of their ability to reverse drug resistance and can also be used in combination with other therapies. Secondly, unlike irreversible genetic mutations, epigenetic changes are reversible, opening new therapeutic options. Lastly, epigenetic mutations can also be used to stimulate the immunological response of the host boosting antitumoral effects.
For example, in June 2023, the clinical-stage biotechnology company Zenith Epigenetics Ltd. announced progress in the development of ZEN-3694, a BET inhibitor intended for the treatment of NUT Carcinoma.
North America Dominating the Market
North American countries endure a large geriatric population making a large section of the population prone to chronic diseases which greatly affects the healthcare system posing a huge burden on the economy. It is estimated that by 2040, one in five Americans will be 65 years of age or older. Around 23.5% of older Americans reported having fair or poor health in 2022, whereas the percentage of obese people varies from 32% to 46%, which fuels the need for development of innovative solutions. North America has a robust healthcare system housing one of the largest biotechnology companies in the world. The governments support the local companies by helping them launch and improve their products and invest in research and development initiatives. All these factors are responsible for the dominance of North America in the global epigenetics market.
For example, Cardio Diagnostics, Inc., a cardiovascular medicine diagnostic company announced a collaboration with Mana Capital Acquisition Corp, a cardiovascular testing company in May 2022. The corporation aimed to capture a $51 billion epigenetics market share in the US with this partnership.
Future Market Scenario (2024 - 2031F)
The global epigenetics market will be driven by the development of epigenetic editing tools such as CRISPR-based technologies.
Increased impact of deteriorating environmental conditions in developing countries will increase the disease susceptibility boosting the growth of the global epigenetics market.
Increased investigations in transgenerational epigenetic inheritance can create the desired opportunities for the global epigenetics market.
Integration of epigenetics with proteomics, genomics and transcriptomics will bolster the growth of the global epigenetics market.
Key Players Landscape and Outlook
Major companies in the global epigenetics market are opting for collaborations to grow in the marketplace. Collaborations foster innovation, creativity, and knowledge exchange. By working together, companies can easily overcome challenges and increase their chances of success in the fiercely competitive industry. It helps in improving their reputation and provides more funding opportunities to speed up the research and development efforts. Market leaders are collaborating to automate the epigenetics sector which improves the efficiency of the procedure and increases the outcomes.
For example, Bayer's Consumer Health division formed a partnership with Hurdle, a diagnostic testing company in November 2023 to develop breakthrough technologies in the field of healthy aging. With the help of Hurdle's AI-powered multi-omics the partnership aims to measure biological age using epigenetic biomarkers.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.