Published On : 03 October, 2017
This article provides an overview about the global nutrigenomics market – competitive landscape & forecast to 2023, there by offering insights on key growth indicators of the present and forecasted period such as drivers, restrains, opportunities, and trends that are involved in shaping the market.
Neutrigenomics is a branch of nutritional genomics which is used to identify the effect of genetics on the nutrition. It has facilitated a new approach towards nutrition research. Nutrigenomics is the area of nutrition that uses molecular tools to search, access, and understand the several responses obtained from a certain diet. By determining the mechanism of the effects of nutrients, it helps in identifying the relationship between these specific nutrients on human health. These techniques are used to identify the mechanism of the different metabolic diseases and ultimately helps in prescribing the proper treatment of diseases. This technique aims at developing an understanding of relationship of whole body response and food via the effect of a single gene/single food compound relationships. Neutrigenomics is widely used in identifying the causes of aging of the cells. Neutrigenomics not only find its application in healthcare sector but also in food & beverages.
The market for neutrigenomics has been on rise over the past few years. Based on MRFR analysis, the global neutrigenomics market is growing at the healthy CAGR of around 16.8% and is expected to reach approximately USD 17,313.5 million by 2023. Neutrigenomics is used in nutritional research from last few decades. The growth and innovation in the market, will still continue to evolve in future. Neutrigenomics is a new technique and so limited range of products are available in the market.
Market Growth Influencer
Nutrigenomics market is majorly driven by elevating obese population, increasing applications in dermatology, and growing impact of the social medial on the life. This technique helps in identification of the effect of genetics on nutrition with the help of single nucleotide polymorphism (SNPs) or gene expression method and also detect the accumulation of free radicals on the skin due to improper diet and lack of nutrition to the cells. Thus, it is used in the field of dermatology and in diagnosis of metabolic & genetic diseases.
According to the National Laser Institute, in 2013, over 11 million non-surgical cosmetic procedures were performed in the U.S. and according to the American Society for Aesthetic Plastic Surgery 2013, Americans spent more than $12 billion on cosmetic treatments. Furthermore, rapid development in technology, increasing demand for better diagnostic method, and rising healthcare expenditure has provided a push for the growth of the market. However, higher cost of treatment and need of well-qualified physicians may restrict the growth of the market.
Nutrigenomics: Market Segmentation
The global neutrigenomics market has been majorly segmented on the basis of product, application, technique, and region.
On the basis of product, the nutrigenomics market is divided into reagents and kits, services, and others. In 2016, reagents & kits segment accounted for the largest share of 57.7% in the nutrigenomics product market.
Among application, obesity accounted for the largest share in nutrigenomics market with the value of USD 2,992.1 million in the year 2016 and is estimated to grow at a CAGR of around 16.8% during the forecast period of 2017 to 2023.
Nutrigenomics is proved to be an useful tool in the treatment of obesity. It explores the interaction between genetic factors and diet, which helps in suggesting preventive measures or treatment for obesity. Due to this, it has become a novel approach for suggesting an effective treatment of obesity. Many different techniques are used to perform the test. Saliva testing is an easy and non-invasive way of testing and thus accounted the major share for the market. Saliva segment is expected to reach USD 10,634.45 million by 2023 at a CAGR of 17.0%.
In 2016, Americas dominated the global nutrigenomics market owing to the presence of well-developed technology and large number of patients suffering from metabolic and cardiovascular diseases. 37.4% of total neutrigenomics market share belonged to the Americas and is expected to maintain its leading position during the forecast period (2017-2023). Europe accounted for the second largest market, followed by Asia Pacific. According to the World Health Organization (2014), in Europe 30%-70% people are overweight of which 10-30% are obese. Presence of large obese population and continuously growing diabetic population has boosted the growth of the market in Europe.
On the other hand, Asia Pacific is the fastest growing market due to presence of huge opportunities for the development of the market and rapidly developing economies; this is due to low labour cost in the developing countries like India and China, which attracts the foreign investors. The Middle East & Africa owned the lowest market share due to limited development of the technology in Africa region.
Prominent Market Players
Many companies are majorly focusing on the innovation of the neutrigenomics kits by increasing investments on R&D that has expected to get intensify in future due to increasing competition. The competition among existing market players for improving the quality and specifications of the product performance has played a crucial role in growth of this market. The major participants of this market are WellGen Inc. (US), Metagenics, Inc (US), Genomix Nutrition, Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India), and Cura Integrative Medicine (Australia).
MRFR Analyst View
Neutrigenomics market is observed to be the rapidly growing market. With the innovative development in the research objectives, new opportunities are coming up with the introduction of new types of kits and techniques. Based on the current scenario, increasing demand for the better diagnostic treatment and rising prevalence of diseases will act as an opportunity for the neutrigenomics market.
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