Global Epigenetics Drugs & Diagnostic Technologies Market, by Type (Epigenetic Drugs, (DNMT Inhibitors (Azacitidine and Decitabine), HDAC Inhibitors (Vorinostat, and Romidepsin) and Others) and Epigenetics Diagnostic Technologies (DNAMethylation and CHIP Technology) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 9,408.7 million in 2022 and expected to exhibit a CAGR of 18.8% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Market players are focusing on raising funds for epigenetics drugs and epigenetics diagnostic product development. The table below provides the details of funds raised by the companies, which are developing epigenetics drugs and epigenetics diagnostic products:
|Cambridge Epigenetix||88 million||November 2021||
The Series D financing was led by Temasek along with new investors such as New Science Ventures, Sequoia, and Ahren Innovation Capital
|Chroma Medicine, Inc.||125 million||November 2021||
The funding was led by Newpath Partners and Atlas Venture
|Oryzon Genomics, S.A||1.14 million||December 2018||
The funds were granted by the FEDER Funds from the European Union and the Ministry of Science, Innovation and Universities, Government of Spain
Moreover, research institutes are also receiving grants for understanding epigenetic mechanisms for various disorders such as cancer and alcohol abuse disorders. For instance, in June 2020, University of Illinois at Chicago was granted US$ 8.2 million for understanding the epigenetic mechanisms in alcohol abuse disorders. The grants were provided by the National Institute on Alcohol Abuse and Alcoholism for understanding the biological mechanisms of alcoholism.
Global Epigenetics Drugs & Diagnostic Technologies Market – COVID-19 Impact (Demand and Supply Chain Analysis)
The COVID-19 pandemic and lockdown in various countries had a negative impact on the economy of the private healthcare sector.
This lockdown resulted in the closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of pharmaceutical products.
Thus, COVID-19 pandemic has affected the economy in three main ways:
Supply chain and manufacturing activities in the U.S., Asia Pacific, Europe, and other regions had been disrupted due to lockdowns.
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which are required to ensure safety in hospitals and provide treatment to patients with other diseases, which had also impacted the overall healthcare market negatively.
One of the biggest challenges is supplying the raw materials required to manufacture drugs was the irregularities in the transportation system. Additionally, due to the increasing number of patients suffering from COVID-19 and other life-threatening illnesses, COVID-19 drug product distributors witnessed increasing demand for COVID-19 drug products from retailers.
Browse 20 Market Data Tables and 21 Figures spread through 149 Pages and in-depth TOC on “Epigenetics Drugs & Diagnostic Technologies Market”- Global Forecast to 2022, by Type (Epigenetic Drugs, (DNMT Inhibitors (Azacitidine and Decitabine), HDAC Inhibitors (Vorinostat, and Romidepsin) and Others) and Epigenetics Diagnostic Technologies (DNAMethylation and CHIP Technology) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Epigenetics Drugs & Diagnostic Technologies Market, click the link below:
Factors such as increasing strategic mergers, acquisitions, and collaborations by key players to expand their market presence are expected to drive the epigenetics drugs & diagnostic technologies market growth.
For instance, In June 2021, MorphoSys, a commercial-stage biopharmaceutical company acquired Constellation Pharmaceuticals, Inc. a biopharmaceutical company that uses its expertise in epigenetics for developing novel therapeutics. The Constellation Pharmaceuticals inc., has two investigational product candidates, pelabresib and CPI-0209 for patients with various haematological and solid tumors. The acquisition will help MorphoSys to strengthen its position in hematology-oncology.
Key Takeaways of the Global Epigenetics Drugs & Diagnostic Technologies Market: