North America Epigenetics Market - Segmented by Kits, Reagents, Enzymes, Instruments, Application, Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The North America epigenetics market is estimated to register a CAGR of around 20%, during the forecast period. Epigenetics is defined as the study of changes in gene expression, which are caused by certain base pairs in DNA, or RNA, being turned off or on again, through the chemical reactions.
Increasing Incidence and Prevalence of Cancer
It is estimated that nearly 6% of the malignancies occur in the United States. According to the American Cancer society, nearly 40,000 people in the United States are diagnosed with head and neck cancer, of which 12,000 were supposed to die in the year 2014 alone. This depicts the large patient pool of cancer patients, which will propel the growth of the epigenetics market. As this epigenetics is used in the study of changes in gene expression which are useful in the cancer diagnosis. So, with the increasing cancer prevalence the market is expected to grow. The other factors, like increasing funding for R&D in healthcare and the rising epigenetic applications in non-oncology diseases, are driving the North America epigenetics market.
Rising Cost of Instruments
The epigenetic instruments cost is rising gradually, and this increase is becoming one of the major restrains for the growth of the market. The instruments, such as mass spectrometers, sonicators, and the next generation sequences, are already costly, and the rising cost of these instruments are going to increase the cost for the genetic test, which simultaneously decreases the adoption rate of epigenetics. Additionally, lack of skilled researchers is restraining the North America epigenetics market.
The US has the Highest Market Share
In North America, the US is dominating the epigenetics market due to the factors, such as increasing prevalence rate of cancer, increasing funding for the R&D, and the increasing collaborations between several large pharmaceutical companies for development of enhanced therapeutics.
Key Developments in the Market
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