The Global 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%
Nutrigenomics is the study of interaction of nutrition and genes. It is used to diagnose the exact mechanism of different metabolic diseases such as diabetes and obesity. Aging of the cells occur because of accumulation of free radicals formed due to improper diet and lack of nutrition to the cells. Beside this, pollution, stress, food, etc. are also responsible for causing aging of the cells. Nutrigenomics has found its application in the field of dermatology.
Nutrigenomics has made it possible to identify the specific causes that result in skin aging and thus by taking appropriate preventive measures, the onset of aging and the formation of wrinkles can be delayed. Nutrigenomics are used in the diagnosis of different diagnostic metabolic diseases. Diseases like diabetes, obesity, and many other genetic diseases can be diagnosed by this method. Diabetes and obesity is one of the major problems across the globe.
The global nutrigenomics market is growing at a very reasonable pace. The market is expected to grow at the CAGR of 16.8% during the forecast period. Continuous research in the field of nutrigenomics has helped to introduce new and better methods for diagnosis and treatment of these diseases that has supported the growth of the market.
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According to a recent study report published by the Market Research Future, The global nutrigenomics market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
The market is expected to grow with the same trends during the forecast period. The major factors contributing for the growth of the market are rising diabetic and obese population, increasing applications in dermatology, and increasing demand for the advanced diagnostic methods. According to the International Diabetes Federation (2016), 420 million adults were suffering from diabetes which is expected to reach 625 million by 2040. Further, as per the World Health Organization (2014), more than 600 million adults were obese and 1.9 billion adults, were overweight. Moreover, increasing healthcare expenditure, and government support for research & development has fuelled the market growth. However, high cost of treatment and need of well qualified physicians may restrain the growth of market.
Global Nutrigenomics Market – Competitive Analysis
DSM (Netherlands), Unilever (U.S.), Genova Diagnostics (U.S.), WellGen Inc. (US), Metagenics, Inc (US), Genomix Nutrition, Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India), Cura Integrative Medicine (Australia) are some of the prominent players at the forefront of competition in the Global Nutrigenomics Market and are profiled in MRFR Analysis.
Nutrigenomics offers a tremendous opportunity for biomedical scientists as it helps them in understanding nutrition and genetic factors governing a particular disease. A number of different factors are coming together that offer the chance to make nutrigenomics a major new area of research. It became possible to do large-scale clinical trials on specific topics in the field of nutrition, which will open new doors of opportunities for nutrigenomics research. Moreover, major players are launching their products in the market making it more competitive.
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For instance, companies like in April 2017, Genomix Nutrition launches 55 gene nutrigenomic testing platform. It is the advanced version of 26 SNP test. The company believes that this test will provide an in-depth understanding of an individual’s genetic makeup and how that impacts their overall health and wellbeing
Moreover, in April 2017, Genomix Nutrition also acquired San Antonio Nutrigenomic laboratory for genetic testing. This acquisition will help the company to deliver quicker test results to patients. It will also improve operational efficiencies, ensuring that the company’s nutrigenomic tests remain affordable and accessible to patients and providers.
Additionally, February 2016, Metagenics announces an educational collaboration with ReachMD to provide evidence based learnings in clinical nutrition and lifestyle medicine to improve patient management and reduce healthcare utilization.
Furthermore, in May 2016, Genomix Nutrition, Inc. launches nutrigenomic testing platform (26 SNPs test) and empowers providers with the ability to provide nutritional support based on an individual’s DNA.
Therefore, the growing innovations in the field of nutrigenomics and rising launches of various the competitive products by the major players has spurred the growth of the market.
Global Nutrigenomics Market – Segments
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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