Wilmington, New Castle, Delaware, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Nutrigenomics Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type (Reagents and Kits, Services), by Applications (Obesity, Diabetes, Cardiovascular Diseases, Cancer Research), by End User (Online Platforms, Hospitals and Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global nutrigenomics market generated $435.7 million in 2022, and is anticipated to generate $2.1 billion by 2032, rising at a CAGR of 17.2% from 2023 to 2032.
Prime Determinants of Growth
The rising prevalence of chronic diseases, advancements in nutrigenomics testing, and growing awareness of personalized nutrition among people across the globe are the factors expected to drive the growth of the global nutrigenomics market in the forecast period from 2023 to 2032. However, limited awareness and government regulation regarding genetic research or testing may hamper market growth in the coming future. On the contrary, the expansion of direct-to-consumer nutrigenomics services and the integration of nutrigenomics in healthcare systems are expected to offer remunerative opportunities for the expansion of the nutrigenomics market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $435.7 million |
| Market Size in 2032 | $2.1 billion |
| CAGR | 17.2% |
| No. of Pages in Report | 280 |
| Segments covered | Product Type, Applications, End User, and Region |
| Drivers | Growing prevalence of chronic diseases |
| Rising awareness about personalized nutrition | |
| Advancements in genomic technologies | |
| Opportunities | Ever-increasing impetus to nutrigenomics |
| Integration of nutrigenomics in healthcare systems | |
| Restraints | Ethical and regulatory challenges related to genetic testing, privacy, and data security, |
COVID-19 Scenario
- The COVID-19 pandemic outbreak had a significant impact on the global nutrigenomics market’s growth as people were seeking to monitor their health and prevent COVID-19 infection.
- Due to travel restrictions and limited access to healthcare providers, nutrigenomic testing emerged as a convenient alternative for consumers. Individuals could obtain health information from the safety and comfort of their homes, reducing the risk of exposure to the virus.
- Moreover, the pandemic opened up fresh business prospects for the companies operating in the nutrigenomic testing market. Numerous enterprises shifted their focus towards COVID-19 testing, expanding their product portfolios to cater to the growing demand.
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Product Type: Reagents and Kits Sub-segment to Flourish Immensely by 2032
The reagents and kits sub-segment accounted for the largest global nutrigenomics market share of 65.1% in 2022 and is expected to grow at the highest CAGR of 17.5% during the forecast period from 2023 to 2032. This is mainly due to the increase in number of chronic diseases and personalization of diet to prevent diseases due to unhealthy lifestyle and dietary change. Besides, the rising adoption of telehealth services that include pharmacy services, online medical visits, and memberships is driving the demand for reagents & kits.
Applications: Obesity Sub-segment to Dominate During the Forecast Period
The obesity sub-segment accounted for the largest market share of 37.0% in 2022 and is expected to the highest grow at a CAGR of 18.1% during the forecast period. This is mainly due to the increasing overweight population across the globe. The World Obesity Federation’s 2023 Atlas anticipates that more than 4 billion people, constituting 51% of the global population, will be either obese or overweight in the next 12 years.
End User: Hospitals & Clinics Sub-segment to Hold Major Market Share by 2032
The hospitals & clinics sub-segment of the global market accounted for the highest share of 46.8% in 2022 and is projected to continue to hold major market share by 2032. This is mainly owing to the rapidly evolving and uncertain regulatory landscape of telehealth. The presence of medical professionals in hospitals and clinics ensures accurate sample collection, result interpretation, and effective communication of findings to patients. This professional expertise enhances the credibility of nutrigenomic testing.
Region: North America Market to be the Most Dominant During the Forecast Period
The nutrigenomics market in the North America region accounted for the largest share of 43.9% in 2022 and is predicted to be dominant and grow at the highest CAGR of 18.0% during the forecast period. This growth is mainly due to growing health disorders in the region. In addition, companies in North America are releasing genetic reports for their subscribers, which is contributing towards nutrigenomics research. Moreover, the presence of major nutrigenomics companies in the region is expected to generate opportunities in the nutrigenomics testing market in the coming years.
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Leading Players in the Nutrigenomics market:
- Nutrigenomix Inc.
- Metagenics, Inc.
- The Gene Box
- DNA Life
- GX Sciences Inc.
- Genova Diagnostics
- Holistic Health
- Cura Integrative Medicine
- Xcode Life
- Interleukin Genetics
The report provides a detailed analysis of the key players of the global nutrigenomics market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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