Epigenetics can be defined as the study of chemical modifications of some specific genes of an organism. A gene can be altered with change in the sequence of its DNA or epigenetic programming. Epigenetic drugs make it possible to reverse the aberrant gene expression which leads to various disease states.
Statistics:
The global epigenetic drugs and diagnostic technologies market is estimated to account for US$ 28,606.6 Mn in terms of value by the end of 2027.
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Global Epigenetic Drugs and Diagnostic Technologies Market: Drivers
Increasing prevalence of cancer is expected to propel growth of the global epigenetic drugs and diagnostic technologies market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Moreover, R&D in epigenetic drugs is also expected to aid in growth of the market. For instance, the study, ‘Vorinostat in the acute neuroinflammatory form of X?linked adrenoleukodystrophy’, published in May 2020, in Annals of Clinical and Translational Neurology, reported that treatment with certain epigenetic medicines may help compensate for a deficiency in the ABCD1 gene in patients with adrenoleukodystrophy.
Statistics:
North America held dominant position in the global epigenetic drugs and diagnostic technologies market in 2019, accounting for 40.8% share in terms of value, followed by Europe and Asia Pacific, respectively.
Global Epigenetic Drugs and Diagnostic Technologies Market: Restraints
Longer durations of R&D for developing epigenetic drugs is expected to hinder growth of the market. It takes a new drug 12 years to go from research lab to patient, with many thousands of candidates discarded along the way.
Moreover, lack of evidence regarding the efficacy of epigenetic therapy in solid tumors is also expected to limit the market growth.
Global Epigenetic Drugs and Diagnostic Technologies Market: Opportunities 
Funding for R&D in epigenetics is expected to offer lucrative growth opportunities for players in the global epigenetic drugs and diagnostic technologies market. For instance, in June 2020, The University of Illinois at Chicago, U.S., received US$ 8.2 million from the National Institute on Alcohol Abuse and Alcoholism to continue the Center for Alcohol Research in Epigenetics and its research on how alcohol affects genes through epigenetics.
Moreover, development machine-learning algorithms to aid in epigenetic drug discovery is also expected to boost the market growth. For instance, in October 2019, researchers at Sanford Burnham Prebys Medical Discovery Institute, U.S, developed a machine-learning algorithm that gleans information from microscope images in order to allow high-throughput epigenetic drug screens.
Statistics:
The global epigenetic drugs and diagnostic technologies market was valued at US$ 6,800.3 Mn in 2019 and is forecast to reach a value of US$ 28,606.6 Mn by 2027 at a CAGR of 19.7% between 2020 and 2027.
Market Trends/Key Takeaways
The market is witnessing R&D of novel epigenetic drugs. For instance, in November 2019, researchers with the Pasteur Institute and CNRS (French National Center for Scientific Research), France, reported identifying epigenetic inhibiting drugs that can inhibit DNA methylation and eliminate even the most resistant of the malaria parasites, Plasmodium falciparum, in the journal ACS Central Science.
The market is also witnessing entry of new players. For instance, in September 2019, Omega Therapeutics, a biotech startup, announced its entry in R&D of medicines based on epigenetics.
Global Epigenetic Drugs and Diagnostic Technologies Market: Competitive Landscape
Major players operating in the global epigenetic drugs and diagnostic technologies market include, 4SC AG, Acetylon Pharmaceuticals, Inc., Astex Pharmaceuticals Inc., CellCentric Ltd., Celleron Therapeutics Ltd., Celgene Corporation, Chroma Therapeutics Ltd., Epigentek Group Inc., Eisai Co. Ltd., EnVivo Pharmaceuticals Inc., Base Genomics, and Oryzon Genomics, S.A.
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Global Epigenetic Drugs and Diagnostic Technologies Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in July 2020, EpiGentek launched a series of SARS-CoV-2 research assays in combatting the ongoing COVID-19 pandemic.
Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in June 2020, Oryzon Genomics, S.A., a clinical-stage biopharmaceutical company leveraging epigenetics for R&D of new therapies, collaborated with Institute of Medical and Molecular Genetics (INGEMM) of the La Paz University Hospital in Madrid for R&D of precision medicine in patients with Phelan-McDermid Syndrome.
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