The size of the Epigenetics Market in the Asia Pacific is estimated to be worth USD 160.00 million in 2023 and USD 336.05 million by 2028, growing at a CAGR of 16% from 2023 to 2028.
The market for Epigenetics in the APAC region is expected to be driven by the proliferation of chronic diseases such as cancer and increasing awareness regarding the need for epigenetics. Also, the increasing applications of epigenetics in non-oncology diseases are expected to fuel market growth. The other factors, such as decreasing sequencing costs, growing geriatric population, and surge in genome mapping programs, are fuelling the market growth. In addition, increasing preference for personalized medicine and target therapies are more likely to influence the market growth.
On the other hand, the Improving technological advancements in the healthcare sector in emerging countries such as China, India, and Japan contribute to the APAC regional market growth. Key market players are adopting advanced epigenetic procedures and strategic developments, which are predicted to fuel market growth. The major players in the region are conducting research and development activities that are expected to provide lucrative growth opportunities for the market players.
Furthermore, increasing investments and funding by the government and non-government organizations for the R&D activities and for the development of healthcare infrastructure are encouraging the Epigenetics market. In addition, the market participants are implementing various strategies such as partnerships between academic, pharmaceutical, and biotechnology companies for epigenetics studies, which are projected to impact market growth positively.
However, the high cost of instruments and lack of skilled professionals are expected to restrain the market growth.
This research report on the APAC Epigenetics Market has been segmented & sub-segmented into the following categories:
By Research Area:
By Instruments & Consumables:
Geographically, the APAC is one of the emerging regional markets and is expected to have significant growth rate in the global epigenetics market. The market growth is majorly attributed to the presence of a rapid population, the prevalence of cancer, and improving the healthcare infrastructure. Because of the growing awareness of epigenetics, the expansion of the R&D sector, and the increase in penetration of significant companies in Asia-Pacific, the epigenetics market in Asia-Pacific provides lucrative possibilities for key players. Also, the presence of major market players such as China, India, and Japan are expanding the APAC regional market growth as these countries are significantly investing in R&D to develop new technologies. In addition, en Research Consortium, located in the U.K, has expanded its studies center in Singapore for chronic illness research, including diabetes and obesity.
The Chinese epigenetics market dominated the APAC Epigenetics market during the forecast period due to technological advancements in the healthcare sector and the growing adoption of epigenetics procures. In addition, a large geriatric population and growing demand for epigenetics are projected to increase market growth in the coming years.
On the other hand, emerging countries such as Japan and India are anticipated to witness a promising share in the APC epigenetics market during the forecast period. Especially the Indian Epigenetics market is likely to expand significantly due to the favorable government incentives, improving healthcare sector, and the growing usage of epigenetics for various applications has led to developments in the market India. Many pharmaceutical firms and research institutions in India spend a significant amount of time establishing modified genes.
KEY MARKET PLAYERS:
Abcam plc., Illumina, Inc., QIAGEN N.V., Merck & Co., New England Biolabs, Inc., Sigma-Aldrich Corporation, Thermo Fisher Scientific, Inc., Active Motif, Diagenode, Inc. and Zymo Research Corporation are some of the prominent companies in the APAC epigenetics market.
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