Press release
Worldwide Nutrigenomics Market | expected to reach USD 3034.1 million | Top Key Players - WellGen Inc. (US), Metagenics, Inc (US), Genomix Nutrition, Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India)
Nutrigenomics Market
The global nutrigenomics market has been evaluated as a speedily growing market and it is expected to grow continuously during forecasted period. 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. According to WHO (2014), the number of people with diabetes was approximately 422 million.
Increasing prevalence of metabolic diseases, rising obese population, and increasing application of neutrigenomics 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.
The market for nutrigenomics 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%
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Major players in Nutrigenomics market:
There are plenty of large and small market players which operate in this market: WellGen Inc. (US), Metagenics, Inc (US), Genomix Nutrition, Inc. (US), Nutrigenomix (US), NutraGene (India), XCODE Life Sciences Pvt. Ltd. (India), Cura Integrative Medicine (Australia).
Regional Analysis:
Considering the global scenario of the nutrigenomics market, there are four main regions: America, Europe, Asia Pacific, and the Middle East & Africa.
America accounts for the largest market owing to the presence of huge patient population suffering for diabetes and obesity. A well-developed healthcare sector and high healthcare spending has also provided a push for the growth of the market. America consists of two regions namely, North America and South America. North America is the major market share holder.
Europe holds the second largest market share in global nutrigenomics market. Some major factors that attribute the growth of Europe nutrigenomics market are, rise in prevalence of metabolic diseases and government support for researched development. Germany, France and UK are the major contributor in the Europe nutrigenomics market.
Asia Pacific is the fastest growing market. Improving healthcare infrastructure, presence of huge patient population, rising awareness about nutrigenomics has driven the growth for this market in Asia Pacific. However, the Middle East & Africa accounts for the lowest share in the global nutrigenomics 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.
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