The International Nutrigenomics Market was around USD 4,860.2 million in 2016 and is expected to reach USD 17,313.5 million by 2023 which is a projected CAGR of 16.8%.
Increasing prevalence of metabolic diseases, rising obese population, and increasing application of Nutrigenomics in dermatology has driven the growth of the market. Moreover, increasing healthcare expenditure, government support for research & development and advancement in technology has fueled the market growth. On the other hand, high cost of the treatment may slow the growth of the market.
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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: saliva, buccal swab, blood, others. On the basis of application the market is segmented: obesity, diabetes, anti-aging, chronic diseases.
World Nutrigenomics Market – Regional Analysis:
The World Nutrigenomics Market is mainly driven by the burgeoning markets such as Clinical Nutrition, Medical Nutrition, Sport Nutrition, and Animal Nutrition among other. Nutrigenomics has also evolved in Animal Care (Companion Care, Pet’s Nutrition/ Animal Nutrition etc.) exploring the growth prospects investigating and analysing the nutrition requirements of Animals based on their genetic make-up. The nutritional approach may not yield the best outcome and that each species often has a slightly different nutrient requirement regardless of similarities between breed, training regime, age etc. Additionally, increasing healthcare expenditure, and government support for research & development has fuelled the market growth.
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.
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Nutrigenomics Market Major TOC:
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
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