The Epigenetics Market size in Europe is expected to grow at a CAGR of 13.2% and reach USD 348.26 million in 2028 from USD 187.36 million in 2023.
Factors such as increased cancer incidence and prevalence, growing funding for R&D, and increased epigenetic use in non-neoplastic diseases are a few of the significant factors promoting the European epigenetics market. According to the World Health Organization (WHO), more than 3.7 million new cancer cases and 1.9 million people die each year. Cancer is the second leading cause of death and morbidity in Europe. Epigenetics is used to study changes in gene expression that can be used to diagnose disease. Therefore, it represents a massive pool of cancer patients driving the epigenetic market.
The epigenetics market in the European region is presumed to show modest growth during the forecast period with the discovery of epigenetic drugs. Cancer epidemics and advances in technology in epigenetic research are also foreseen to drive Europe epigenetics market growth. The untapped potential of the emerging European Epigenetics Market is expected to provide various opportunities for market expansion. Advances in the epigenetic industry are focusing on the detection of methylation markers associated with cancer development. For example, the Geometrics Epi proLung BL Reflex test helps diagnose lung cancer by determining methylation of the SHOX2 biomarker gene.
However, increasing equipment costs are assumed to limit market growth, and the shortage of skilled technicians is suspected of hindering the European epigenetics market growth.
The European epigenetics market is fairly competitive and consists of several key players. In terms of market share, several vital players currently dominate the market. With the growing demand for mobile healthcare and ultrasound technology development, some small businesses have entered the European epigenetics market and have a significant share. However, the intense competition from leading players can suppress the revenue portion of new entrants.
This research report on the Europe Epigenetics Market has been segmented & sub-segmented into the following categories:
By Research Area:
By Instruments & Consumables:
Regionally, Europe is the second-largest market owing to the stable economy and presence of market leaders. The market growth in this region is driven by the growing occurrence rate of cancer in Europe and many patient populations.
The German epigenetics market is expected to dominate the European market accounting for the highest market share during the forecast period owing to the raising funds for research and development activities towards cancer and growing collaborations and mergers among the large numbers of pharmaceutical companies for the success of improved therapeutics. Extensive usage of these epigenetic applications is increasing towards non-oncology diseases.
The UK epigenetics market is predicted to have a notable growth during the forecast period due to the growing consciousness relevant to the diseases, the early treatment diagnosis, and the increasing elder aging population. As a result, research and development activities related to examining the epigenetic base of different diseases are escalating in this region. The EpiGen Research Consortium has expanded its research facility center in Singapore to research chronic diseases like obesity and diabetes in the UK.
KEY MARKET PLAYERS:
A few of the notable companies operating in the Europe epigenetics market profiled in this report are 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.
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