Epigenetics Drugs & Diagnostic Technologies Market Analysis-2027
Epigenetics Drugs & Diagnostic Technologies Market Report Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
Global Epigenetic Drugs and Diagnostic Technologies Market: Drivers
Approval and launch of epigenetic drugs is expected to propel growth of the global epigenetic drugs and diagnostic technologies market over the forecast period. For instance, in January 2020, the U.S. Food and Drug Administration granted accelerated approval to tazemetostat (TAZVERIK, Epizyme, Inc.) for adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection.
Global Epigenetic Drugs and Diagnostic Technologies Market: Opportunities
Adoption of Artificial Intelligence (AI) for R&D in epigenetic drugs is expected to offer lucrative growth opportunities for players in the global epigenetic drugs and diagnostic technologies market.
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The global epigenetic drugs and diagnostic technologies market was valued at US$ 6,800.3 Mn in 2019 and is forecast to reach a value of US$ 28,606.6 Mn by 2027 at a CAGR of 19.7% between 2020 and 2027. Increasing approval and launch of epigenetic drugs is expected to propel growth of the global epigenetic drugs and diagnostic technologies market over the forecast period.
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Players in the market are focused on R&D of new drugs to expand their product portfolio. For instance, in July 2020, Oryzon Genomics, S.A., a clinical-stage biopharmaceutical company leveraging epigenetics for R&D of novel therapies, presented the final data from its Phase IIa clinical trial REIMAGINE at the 28th European Congress of Psychiatry, EPA 2020.
Major players in the market are also focused on raising funds for R&D of new technologies. For instance, in June 2020, Base Genomics, an epigenetics company, raised US$ 11 million to progress development of its TAPS technology, a novel chemical reaction that converts methylated cytosine to thymine under mild conditions.
Global Epigenetic Drugs and Diagnostic Technologies Market: Key Developments
June 2020: Epizyme, Inc. received the U.S. Food and Drug Administration's supplemental New Drug Application approval for TAZVERIK (tazemetostat)
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