The Nutrigenomics Market has gathered a lot of traction of late and is growing at an incredible pace. Market Research Future, a firm which specializes in Nutrigenomics Market reports related to the healthcare sector among others, recently published a report on this market. The market is anticipated to develop at a CAGR rate of 16.8% during the forecast period and is estimated to reach USD 17,313.5 million by 2023.
As individuals have become more conscious of their nutritional intake, there has been a lot of focus and attention on the Nutrigenomics sector as a result. High number of cases related to metabolic diseases have further pushed the development pace of the sector to new highs. Increasing investment and government support has contributed positively to the growth of the market.
The global nutrigenomics market has been segmented on the basis of products, techniques and application. On the basis of products, the market is categorized into reagents & kits, services. On the basis of techniques, the market is segmented into saliva, buccal swab, blood, others. On the basis of application the market is segmented into obesity, diabetes, anti-aging, chronic diseases.
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Detailed Regional Analysis:
Considering the global scenario of the market, America dominates the global nutrigenomics market owing to the presence of huge population suffering from diabetes and obesity. North America holds the largest market share in America nutrigenomics market. According to the Centers for Disease Control and Prevention (2015), in America approximately 9.3% of the total America population is suffering from diabetes. Europe has the second largest market for the nutrigenomics which is followed by Asia Pacific. Presence of well-developed healthcare sector and high healthcare expenditure, the nutrigenomics market in Europe is growing at a CAGR of 17%. Asia Pacific is also witnessing a rapid growth in this market which is mainly due to rapidly increasing awareness of treatments, presence of huge diabetic and obese population and rising healthcare expenditure. Asia Pacific nutrigenomics market is expected to grow at a CAGR of 17.1% during the forecasted period. The Middle East & Africa is expected to have limited growth. Middle East is dominating this market by holding 64.3% of the Middle East & Africa market share.
Global Competitive Analysis:
The sector is considerably undergoing transformation which has enhanced the growth pace of the sector. The industry players in the segment are utilizing their primary resources to initiate a trend of solid, volume-driven growth that has been observed in the market with the development of different varieties of product types. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. However, with companies aiming to capture a considerable share of the market segment as early as possible, they implementing and experimenting with various advantage points.
Some of the major players in this market are: WellGen Inc. (US), Metagenics, Inc (US), Genomix Nutrition, Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India), Cura Integrative Medicine (Australia)
Oct 2017 Alibaba, China’s US$460 billion online shopping giant, has invested in one of Asia’s top genetic testing startups. Prenetics, which makes a series of DNA-testing products, has pocketed US$40 million, led by Alibaba and Beyond Ventures, with three other investors joining in its series B funding. It comes 19 months after the Hong Kong crew’s first major round, worth US$10 million. The service has processed nearly 200,000 DNA samples since it launched late 2014. Its line-up now consists of genetic disease risk screening, cancer screening, and family planning screening. The “digital health” part consists of nutrigenomics and pharmacogenomics.
Dec 2017 Food giant Nestlé has agreed to acquire Canadian supplement maker Atrium Innovations for $2.3 billion. Atrium’s supplement brands include Garden of Life and Pure Encapsulations. Atrium was owned by a consortium led by private-equity firm Permira. The consortium acquired Atrium in 2013 in a deal that was valued at $591 million. Atrium will be housed within Nestlé’s health sciences arm, which makes products to address diabetes, malnutrition and neurological disorders among other things. The deal is expected to close in the first quarter of 2018, pending regulatory approval.
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Major TOC Nutrigenomics Market Research Report – Global Forecast till 2023:
1 Report Prologue
2.1 Scope of Study
2.2 Research Objective
2.3 Assumptions & Limitations
2.4 Market Structure
3 Research Methodology
3.1 Market Size Estimation
3.1.1 Market Share analysis
3.2 Market Pricing Approach
4 Market Dynamics
4.1.1 Increased applications in dermatology
4.1.2 Increased applications in diagnosis of metabolic and genetic diseases
4.1.3 Increased application in food and beverages
4.1.4 Increased use in the diagnosis of bone diseases caused by Vitamin D metabolism
4.2.1 High cost and time-consuming process
4.2.2 Need of well qualified physicians
4.2.3 Strict ethical implication
4.3.1 Opportunities in the biomedical sciences
4.4.1 Misconception toward nutrigenomics
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