The Epigenetics Market size in the Middle East & Africa is estimated to reach USD 131.09 million by 2027 from a market value of USD 79.57 million in 2022, registering a CAGR of 10.5% during the forecast period.
The increasing prevalence of chronic diseases such as cancer and other targeted diseases drives the MEA Epigenetics market. Also, the growing geriatric population, rising awareness about Epigenetics are expected to augment the market growth. Other growth-inducing factors include creating DNA and RNA modifying enzymes such as acetylases, methyltransferases, reverse transcriptase, and ligases and introducing sensitive and selective testing and instruments.
In addition, increasing funding for epigenetics research and a growing number of applications of epigenetics in non-oncology diseases boost the market growth during the forecast period. On the other hand, the growth opportunities in developing countries such South Africa, UAE, and Saudi Arabia are estimated to provide lucrative growth opportunities to the market players. However, growing partnerships between academic, pharmaceutical, and biotechnology companies expand the MEA Epigenetics market.
Moreover, the unexpected outbreak of coronavirus disease (COVID-19), on the other hand, presents market participants with growth opportunities. Various research institutes, for example, are conducting advanced epigenetic testing to study the virus's influence on the human genome and creating methods for early detection, risk assessments, and personalized therapies. Further, the region's major players are conducting R&D activities in the biotechnology field due to the growing funding by the government and private organizations.
The main factors limiting the epigenetics market growth are the scarcity of qualified people at diagnostic centers who can use the systems and the high costs of the equipment and treatment choices. In addition, the absence of government payment systems, particularly in emerging countries, and a lack of awareness of various epigenetic techniques are expected to hinder the market growth.
This research report on the MEA Epigenetics Market has been segmented & sub-segmented into the following categories:
By Research Area:
By Instruments & Consumables:
The MEA is projected to register a considerable share in the Epigenetics market during the forecast period. Government initiatives for encouraging the development of biopharmaceutical and biotechnology companies in the MEA are propelling market growth. In recent years, many companies researching techniques to detect methylation-induced DNA alteration have remained relatively constant. The developing countries such as South Africa, Saudi Arabia, and UAE significantly contribute to the MEA regional market growth.
South America is anticipated to be the major country to have a significant share in the Epigenetic market. The market growth is attributed to the improving healthcare sector, growing adoption of applications in non-oncology diseases, and increasing healthcare expenditure. Moreover, a growing partnership between academic, biotechnology, and pharmaceutical companies to provide lucrative growth opportunities for the market players is expanding the market growth.
On the other hand, Saudi Arabia and UAE are projected to witness a promising share during the forecast period. The proliferation of cancer, the growing geriatric population, and improving technological advancement in the healthcare sector. Also, advancing healthcare infrastructure, favorable government funding, and rising healthcare expenditure fuel market growth.
KEY MARKET PLAYERS:
Companies such as 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 playing a leading role in the MEA Epigenetics Market.
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