Increasing incidence of cancer is also expected to upsurge Epigenetics Market in the near future. For instance, the global cancer prevalence was predicted to be 32.5 million in 2012, by Cancer Research UK, which is expected to increase by 68% by 2030. Furthermore, according to National Cancer Institute (NCI), people undiagnosed cancer patients reached nearly 14.5 million in 2014, and the number is expected to reach 19 million by 2024.
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Furthermore, organic and inorganic growth strategies such as merger, collaboration, acquisition and product launches by market players of epigenetics market are expected to fuel growth of the epigenetics market. For instance, in 2012, Epizyme partnered with Summit, a subsidiary of Celgene to develop personalized therapeutics for patients with genetically defined cancers by inhibiting histone methyl transferases (HMTs), an important epigenetic target class.
Under this agreement, Celgene will receive an exclusive license outside the U.S. to some of Epizyme’s programs for the period of three years and has the right to extend this option period for one year with additional funding. Moreover, In January 2016, Merck collaborated with the Cancer Research Technology in U.K., to develop inhibitors of protein arginine methyltransferase 5 (PRMT5).
For instance, Constellation Pharmaceuticals, in April 2018, invested US$ 100 million for development of cancer epigenetics platform and ongoing ProSTAR and ORIOn-E trials, which are designed to demonstrate the potential for CPI-1205 and CPI-0610, used for cancer therapy. Moreover, increasing whole genome sequencing projects such as Human Genome Project is resulting into increasing adoption of epigenetic-based products, which in turn is driving growth of the epigenetics market size.
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Increasing government initiatives to enhance epigenetic research is fueling growth of the epigenetics market. For instance, in 2017, National Institutes of Health (NIH) planned to award 10 grants for supporting social epigenomics research in health disparities. The National Institute on Minority Health and Health Disparities (NIMHD), a part of the National Institutes of Health, committed US$ 26.2 million for nine awards over the term of five year.
High maintenance and cost of the instruments such as next generation sequencing or qPCR, implemented for epigenetic study are expected to be the key factors hindering growth of the epigenetics market.
Epigenetics market is highly fragmented. Major players operating in market include Illumina Inc., Thermo Fisher Scientific Inc., Merck Millipore Limited, Bio-Rad Laboratories, Inc., Qiagen Inc., Zymo Research Corporation, Diagenode s. a., Enzo Life Sciences, Inc. and New England Biolabs Inc.
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