Nutrigenomics Market Scenario
The Nutrigenomics Market is growing at a enormous pace. The Nutrigenomics market is expected to grow at the CAGR of 16.8% during the forecast period and is estimated to cross USD 17,313.5 million by 2023. The increasing obese and diabetic population are favoring the market growth to a large extent. Nutrigenomics is referred to as the study of the interaction of genes and nutrients. It studies the impact of food and its constituents on the genes. It helps to explore the impact of bioactive dietary elements and nutrients on the gene expression and study the risk of a disease on an individual.
Factors such as augmenting application of nutrigenomics in dermatology, increasing obese and diabetic population, and rising demand for advanced diagnostic methods are highly contributing to the market growth. As per the International Diabetes Federation (2016), approximately 420 million adults suffered from diabetes which is anticipated to reach 625 million by the end of 2040. With the increasing expenditure on healthcare and support for R&D by the government, the nutrigenomics market is estimated to flourish. Moreover, the increasing prevalence of lifestyle diseases combined with the accelerating demand for effective cosmetic treatments, the market is estimated to experience an upthrust. The growing importance for nutritious food among the preventive measures for cardiovascular diseases, obesity, and malnutrition is considered to impel the market growth throughout the assessment period.
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Nutrigenomics also help bridge the gap between genetics and the response to the diet taken. The development of lactose and gluten-free food products can be assumed as changes made as per the specific gene variants that can lead to gluten and lactose intolerance. Nutrigenomics is employed in the evaluation of food safety and the personalization of nutrition. The developments likely to take place in this field is considered to bring evolution in the field of nutrition and diet, thereby positively impacting the market. Scientific developments have also enabled the use of nutrigenomics in the field of anti-aging. Also, customized nutritional solutions are introduced in the form of supplements in order to meet the optimal nutritional requirement of the body which lowers the aging of cells by forming several free radicals. Thereby, nutrigenomics is extensively used in reducing the signs of aging and controlling obesity.
On the contrary, the high cost of treatment coupled with the need for well-qualified physicians is some of the top barriers considered to vitiate the market growth during the appraisal period.
Industry Prominent Players
- Cura Integrative Medicine (Australia),
- Metagenics Inc (US),
- WellGen Inc. (US),
- Nutrigenomix (US),
- NutraGene (India),
- XCODE Life Sciences Pvt. Ltd. (India),
- Genomix Nutrition Inc. (US)
Nutrigenomics Market: Segmental Analysis
The Global Nutrigenomics Market Segmentation – by products, application, and techniques.
With respect to the product, the market has been considered for reagents & kits and services.
Technique-based segments covered by the report are saliva, buccal swab, blood, and others.
By mode of application, the global nutrigenomics market has been segmented into diabetes, obesity, anti-aging, and chronic diseases. Among these, the obesity segment is considered to occupy the largest market share due to unhealthy food choices and sedentary lifestyle.
Nutrigenomics Market: Regional Insights
A regional analysis of the worldwide nutrigenomics market has been done for the Americas, Asia Pacific (APAC), Europe, and Middle East & Africa.
Considering the global space, the Americas controls the largest market for nutrigenomics. The presence of highly developed countries like the United States (U.S.) and Canada encourages market growth to a large extent. The market’s imminent expansion in the following years will be the result of the rise in direct to consumer nutrigenomics kits. Also, the increased intake of specialized food in the region does wonders for the market. Latest data reveals that at least in nine nations in the region, close to 9000 individuals are willing to adopt nutrigenomics as long as there is legal guarantee and the genetic data is not misused.
The nutrigenomics market in Europe is the second-largest, due to the mounting adoption rate of advanced technology and the presence of a well-established healthcare & medical research industry. Surge in a number of lifestyle diseases is another important growth-inducing factor. It is predicted that Europe could obtain a CAGR of 17% in the given time frame.
Asia Pacific market’s fast pace from 2017 to 2023 will be backed by the increasing awareness among people about health and treatments. Other than this, rising spending on healthcare and the robust demand for holistic treatments gives way to market growth. The nutrigenomics market in the region is expected to grow at the rate of 17.1% during the review period. Moreover, the region also notes growing demand for functional foods & beverages, which has pushed the demand for nutrigenomic techniques. Japan is reckoned to be the highest consumer of functional foods in the region, which could stimulate the overall market growth in the subsequent years.
Given the prevalence of malnutrition and poverty in Africa, Middle East and Africa could witness dismal run during the review period. Yet, the Middle East market could note better growth in the near future owing to the presence of developed economies like the United Arab Emirates (U.A.E) and Qatar. The rise in lifestyle diseases and subsequently obesity could also benefit the market in Middle East during the conjectured timeframe.
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