Nutrigenomics market information, by products (reagents & kits, services), by techniques (saliva, buccal swab, blood, others), by applications (obesity, diabetes, anti-aging, chronic diseases) – Global forecast till 2023
Market Research Future (MRFR) asserts that the global nutrigenomics market is likely to garner USD 17,313.5 million, projecting a CAGR of 16.8% during the forecast period (2017-2023). 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.
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Industry Updates
In Nov 2018 a top digital health and genetic testing company named Prenetics had announced the launch of Circle. This is a consumer DNA testing platform which provides nutrigenomics tests along with cancer DNA test.
Sep 2018 Nutrigene, a startup uniting the vitamin business with another lucrative aspect of revenue in consumer DNA analysis. Nutrigene will use an individual’s genes to create tailor-made liquid vitamin supplements created on a lifestyle quiz and an individual’s DNA.
Nov 2018 Prenetics, a top genetic testing and digital health company has announced the launch of Circle, which is a consumer DNA testing platform. The platform currently offers cancer DNA test and nutrigenomics tests.
Market Potential and Pitfalls
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.
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.
Competitive Dashboard
The prominent players operating the global nutrigenomics market are Cura Integrative Medicine (Australia), Metagenics Inc (US), WellGen Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India), and Genomix Nutrition Inc. (US).
Segments for Global Nutrigenomics Market
The global nutrigenomics market has been segmented on the basis of products, application, and techniques.
By mode of products, the global nutrigenomics market has been segmented into reagents & kits and services.
By mode of techniques, the global nutrigenomics market has been segmented into buccal swab, saliva, 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.
Regional Analysis for Global Nutrigenomics Market
Geographically, the nutrigenomics market span across regions namely, America, Asia Pacific, Europe, and the Middle East & Africa.
Considering the global scenario, the American region is predicted to dominate the global nutrigenomics market and is likely to retain its dominance in the coming years. The growth is predicted to the presence of a huge patient population suffering from obesity and diabetes. In this region, North America is predicted to occupy the largest share. As per the CDC, approximately 9.3% of the total American population is suffering from diabetes. Economies such as Canada and the U.S. have adopted latest technologies which are triggering the demand for nutrigenomics in this region.
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The European region is predicted to occupy the second-largest share of the global market owing to the presence of well-developed healthcare sector coupled with high expenditure on healthcare. Moreover, the increasing adoption of technology and augmenting incidences of lifestyle diseases are likely to favor the market growth in this region.
The Asia Pacific region is estimated to expand at a rapid pace during the appraisal period due to the rising awareness of health and treatments, demand for holistic treatment, and increased expenditure on healthcare.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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