Nutrigenomics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Nutrigenomics Market is expected to grow with a CAGR of 15.5% during the forecast period.
The COVID-19 pandemic had a potential economic impact and implications on most of the 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 that were 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 across the world, 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 which are driving the market growth include increasing awareness among the target population along with rise in the 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, there were around 19,292,789 new cancer cases and 9,9581,33 deaths due to cancer in 2020. Moreover, it is estimated that the number of new cancer cases would 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 of cancer thus results in 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.
Adding to that, Cardiovascular diseases are found to be 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, merges and expansions to increase market share. For instance, in April 2019, Nutrigenomix Inc., launched genetic test for vegetarians and vegans that is plant-based personalized nutrition.
As nutrigenomics helps in understanding the genetic role in health and diseases with providing better therapeutic intervention that helps in diagnosing the diseases. With rising importance of nutrition among the population and several advantages such as a focus on disease prevention rather 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.
Based 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 could affect the prognosis of COVID-19 patients.
In addition, the high burden of obesity worldwide results in high demand for treatment and thus of 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%. High protein diet, sex, heavy physical activity, and alcohol intake were found to be significantly associated with obesity.
According to the World Health Organization (WHO), estimated that around 57.8% of adults worldwide expected to be classified as obese by 2030.
Nutrigenomics helps in understanding the population on individual gene level and according to the genes, proper nutrition diet is given which further result 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 aforementioned factors the segment is estimated to witness a 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 of the factors which are driving the North America nutrigenomics market are introduction and development of 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 seems 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 Centers for Disease Control and Prevention (CDC), the prevalence of obesity among United States adults was 42.4% in 2017-2018. In addition, the prevalence of obesity was 40.0% among younger adults who were aged 20-39, 44.8% among middle-aged adults who were aged 40-59, and 42.8% among older adults aged 60 and over.
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 in comparison to heart valve disease alone. Thus, nutrigenomics helps in understanding the genetic role in health and cardiovascular diseases with providing better therapeutic intervention that helps in diagnosing and management of the disease which will boost the market growth in near future.
The Nutrigenomics Market is fragmented competitive and consists of several major players. The market players with more funds for research and development 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 of the weak immune system and decreased intake of cholesterol compounds. Some of the market players are DSM, BASF SE, Danone, Genova Diagnostics, Cell-Logic, Metagenics, Inc, GeneSmart and others.