Industry Background:
Nutrigenomics is defined as basically interaction of nutrition and genes in order to the treatment of disease. It is also known as nutritional genomics. Advantages of nutrigenomics testing allow them to make positive changes to their lifestyle, shifting the focus from disease management to disease prevention and health promotion and other benefits. Introduction and development of direct to consumer nutrigenomics kits and rising intake of specialized food and diet are some of the major drivers which are propelling the growth of the market.According to AMA, the market for Nutrigenomics is expected to register a CAGR of 5.2% during the forecast period to 2026. This growth is primarily driven by Rising Healthcare Expenditure, and Encouraging Government Support for Research and Development, Increasing Awareness of Health and Treatments and Increased Spending On Healthcare and a Demand for Holistic Treatments.
Globally, a noticeable market trend is evident Technology Advancement in Nutrigenomics. The Biotechnology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cura Integrative Medicine (Australia), NutraGene (United States), XCODE Life Science Pvt. Ltd. (India), Nutrigenomix (Canada), WellGen Inc. (United States), Genomix Nutrition Inc. (United States), Royal DSM (Netherlands), BASF SE (Germany), Danone S.A (France) and GeneSmart (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2018, the Prenetics Limited (Hong Kong) Company has acquired DNAFit Ltd (United Kingdom) Company for more than USD 10 Million, which serves customers with pharmacogenomics, nutrigenomics, cancer, and reproductive health tests. Hence, this acquisition will help in strengthening the position of the company.
Market Drivers
- Rising Healthcare Expenditure, and Encouraging Government Support for Research and Development
- Increasing Awareness of Health and Treatments
- Increased Spending On Healthcare and a Demand for Holistic Treatments
Market Trend
- Technology Advancement in Nutrigenomics
Restraints
- Issue related to High Cost Associated with the Treatment
Opportunities
Growing Demand from Emerging Economies such as China as well as India
Challenges
Lack of Physicians Qualified to Provide Nutrigenomics Treatments
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Nutrigenomics Study Sheds Light on
The Nutrigenomics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Nutrigenomics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Nutrigenomics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.