Nutrigenomics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Nutrigenomics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The nutrigenomics market is expected to witness a CAGR of 15.5% during the forecast period.

The COVID-19 pandemic had a potential economic impact and implications on most sectors, including the medical devices, pharmaceutical, and biotech industries. Worldwide governments responded to the threat of COVID-19 with all the essential measures, such as social distancing, nationwide lockdown, travel restrictions, and large-scale quarantines, anticipated to impact the businesses and consumer spending negatively. Many countries had been in lockdown and have suspended the trades with other countries, leading to declining market capitalizations of major companies, worldwide, along with a decline in industrial production and other businesses.​

Moreover, COVID-19 showed an impact on the market. Globally, rising awareness regarding nutrition habits and healthy food, food allergies, personalized and preference for personalized health, among other factors, has brought people to go for pharmacogenetics testing and has shown growth in the market.

Some of the factors driving the market growth include increasing awareness among the target population, the rising prevalence of obesity, and the growing trend of personalized diet among athletes.

Furthermore, globally, there is an increasing incidence of cancer, which is driving the market growth. For instance, according to the Globocan Database, in 2020, around 19,292,789 new cancer cases and 9,9581,33 deaths took place due to cancer. Moreover, it is estimated that the number of new cancer cases may grow from 18.1 million to 29.4 million, between 2018 and 2040. Furthermore, proper diet nutrition on an individual level may reduce the susceptibility to cancer, thus, boosting the overall market.

According to the World Heart Federation 2018, coronary heart disease was the leading cause of death, worldwide. An estimated 3.8 million men and 3.4 million women die each year from coronary heart disease. In addition, 80% of the deaths occur in low- and middle-income countries. Coronary artery disease (CAD) is the number one cause of cardiovascular morbidity and mortality.

Additionally, cardiovascular diseases are found as most prevalent across the world, and they are the leading causes of death. As per the 2020 updates of WHO, ischemic heart disease, responsible for 16% of the world’s total deaths. Since 2000, the largest increase in deaths has been for ischemic heart disease, rising by more than 2 million to 8.9 million deaths in 2019.

Furthermore, market players adopting various strategies, such as product launches, collaborations, acquisitions, mergers, and expansions, to increase market share. For instance, in April 2019, Nutrigenomix Inc. launched a genetic test for vegetarians and vegans with plant-based personalized nutrition.

As nutrigenomics helps understand the genetic role in health and diseases, providing better therapeutic intervention helps in diagnosing the diseases. The rising importance of nutrition among the population and several advantages such as a focus on disease prevention rather than disease management and impeding the sign aging will result in propelling the nutrigenomics market. However, the lack of regulatory approvals in the field of nutrigenomics may hamper the market.

Key Market TrendsBased on Application, Obesity in Nutrigenomics Market is Expected to Witness a Healthy Growth in Future

Globally, obesity is a major health concern, worldwide, which can lead to various diseases, such as cardiovascular, type 2 diabetes, metabolic syndrome, and sometimes cancer.

According to a research article by Ahmed M. Abbas et al., published in Obesity Medicine Journal September 2020, globally, the rate of obesity was increased during this COVID-19 epidemic 2020. Moreover, obesity is dangerous in COVID-19 patients as it is associated with other co-morbidities that may affect the prognosis of COVID-19 patients.

Additionally, the high burden of obesity, worldwide, results in high demand for treatment, thus, propelling the nutrigenomics market. For instance, according to a research article by Rujuta Sachin Hadaye et al., published in the Indian Journal of Community Medicine September 2020, in India, the prevalence of obesity was 42.01%, and that of normal-weight obesity (NWO) was 16.1%. A high protein diet, sex, heavy physical activity, and alcohol intake were significantly associated with obesity.

According to the World Health Organization (WHO), estimated that around 57.8% of adults worldwide are expected to be classified as obese by 2030.

Nutrigenomics helps in understanding the population on an individual gene level. According to the genes, a proper nutrition diet is given, which further results in decreased obesity. This novel approach of nutrigenomics helps in the effective prevention and treatment of these diseases and is the key driving factor propelling the segment growth. Hence, from the factors mentioned above, the segment is estimated to witness significant growth over the forecasted period.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

Some factors driving the North American nutrigenomics market are introducing and developing direct-to-consumer nutrigenomics kits and increasing intake of specialized food and diet. Moreover, the rising prevalence of obesity population with the presence of an aging population, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure.

As per World Obesity Federation, obesity-related conditions seem to worsen the effect of COVID-19 patients. Moreover, the Centers for Disease Control and Prevention (CDC) reported that people with heart disease and diabetes are at higher risk of COVID-19 complications.

As per the Centers for Disease Control and Prevention (CDC), the prevalence of obesity among United States adults was 42.4% in 2017–2018. Additionally, the prevalence of obesity was 40.0% among younger adults aged 20–39 years, 44.8% among middle-aged adults aged 40–59 years, and 42.8% among older adults aged 60 years and above.

As per the Heart and Stroke Foundation 2019 report, each year, more than 62,000 people get attack with stroke in Canada, and that number is expected to rise. More than 405,000 people in the country live with the effects of stroke. Furthermore, the number of people who die in the hospital within 90 days is 7.6 times higher for people with heart valve disease and heart failure than heart valve disease alone. Thus, nutrigenomics helps understand the genetic role in health and cardiovascular diseases by providing better therapeutic intervention that helps diagnose and manage the disease, which is likely to boost the market growth in the future.

Competitive Landscape

The nutrigenomics market is fragmented competitive and consists of several major players. The market players with more funds for R&D have established their position in the market. Moreover, several companies are shifting their focus on the development of tailor-made food to match a particular gene profile, such as strengthening the weak immune system and decreasing the intake of cholesterol compounds. Some market players are DSM, BASF SE, Danone, Genova Diagnostics, Cell-Logic, Metagenics Inc, and GeneSmart, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned
 
Panvo Organics Pvt Ltd
GTC Bio Corporation
Dupont Corporation
KitoZyme SA
KIMICA Corporation
Dainichiseika Color & Chemicals Mfg Co. Ltd
Heppe Medical Chitosan GmbH
Meron Biopolymers
Qingdao Yunzhou
Biophrame Technologies
ChitoTech
Marshal Marine
BIO21 Co. Ltd
Austanz Chitin Pty Ltd
KiOmed Pharma

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