Category Archives: Health & Wellness

Brain Health Supplements

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Geographic reference: World
Year: 2020 and 2028
Market size: $7.21 billion and $13.38 billion, respectively

AARP’s 2019 Brain Health and Dietary Supplements Survey found that more than 25% of Americans aged 50 and over regularly take brain health supplements. As the population ages, the incidence of Alzheimer’s disease and other forms of dementia increases. As of 2020, about 5.8 million people in the United States had Alzheimer’s; 50 million worldwide had some form of dementia.1 The World Health Organization (WHO) estimates that there are 10 million new cases of dementia yearly — one case diagnosed every 3 seconds worldwide. The fear of loss of brain function due to aging is contributing to the adoption of brain health supplements among older adults.

The increasing awareness of mental health issues among adolescents and millennials is fueling the demand for brain health supplements among these age groups. These consumers seek treatment for depression, stress, and anxiety, all common conditions among younger people. The COVID-19 pandemic increased the occurrence of these conditions and in turn increased the demand for brain health supplements to treat them. 

Overall, by application, memory enhancement garnered the largest revenue share in 2020, more than 25%. This was followed by attention and focus, depression and mood, sleep and recovery, anti-aging and longevity, and stress and anxiety. The depression and mood segment is expected to see the fastest growth through 2028 due to the increasing rate of depression among millennials and the growing awareness of mental health and depression in countries such as India and Indonesia. According to the WHO, more than 264 million people worldwide suffer from depression.

Natural molecules accounted for more than half the market in 2020, likely due to their cost-effectiveness and ready availability. Omega-3 fatty acids, Huperzine-A and Acetyl-L-carnitine, for example, are used to improve focus and to treat depression, stress, and anxiety. Docosahexaenoic acid (DHA), eicosapentaenoic (EPA), and Alpha-linolenic acid (ALA) are three major omega-3 fatty acids used to treat depression and cognitive impairment, including Alzheimer’s disease. 

Revenues for herbal extract products are expected to grow at the fastest rate through 2028 as interest in herbal supplements rises in such countries as the United Kingdom and the United States. Demand for ginkgo biloba, ginseng, lion’s mane, curcumin, echinacea, and bacopa monieri has been increasing in recent years. The vitamins and minerals segment has the smallest market share. 

A large number of global and regional manufacturers have a presence in the industry. These companies have been using a combination of new product launches, innovation, mergers and acquisitions, and capacity expansion to increase their shares of the market. Some of the larger manufacturers include Teva Pharmaceutical Industries Ltd., HVMN Inc., Purelife Bioscience Co. Ltd., Peak Nootropics, AlternaScript, Liquid Health Inc., Natural Factors Nutritional Products Ltd., Reckitt Benckiser Group PLC, Onnit Labs Inc., and Quincy Bioscience. Leading brands include The Genius Brand, Bulletproof, Onnit Labs, Vital Vitamins, Prevagen, and Neuriva. Of the 348 brands sold on Amazon, only 18 brands garnered above a 1% share in 2020. The top 18 brands represented 56% of the market, with the other 330 accounting for the remaining 44%.

1 Figure for the United States is from the Alzheimer’s Association. Worldwide figure is from the World Health Organization.

Sources: “Global Brain Health Supplements Market Size, Share & Trends Analysis Report by Product (Natural Molecules, Herbal Extract), by Application (Memory Enhancement, Depression & Mood), by Region, and Segment Forecasts, 2021-2028,” Research and Markets Report Description, January 2021 available online here; “Brain Health Supplements Market Size, Share & Trends Analysis Report by Product (Natural Molecules, Herbal Extract), by Application (Memory Enhancement, Depression & Mood), by Region, and Segment Forecasts, 2021 – 2028,” Grand View Research Report Overview, January 2021 available online here; “Global Brain Health Supplements Market Size, Share & Trends Analysis Report 2021 – ResearchAndMarkets.com,” Business Wire, September 9, 2021 available online here; Sinan Atac, “Nootropic Supplement Sales on Amazon,” Natural Products Insider, April 2021, pp. 39-40 available online here.
Image source: formulateHealth, “Health_Supplements_-_Nutraceuticals_-_50191152323.jpg,” Wikimedia Commons, CC BY 2.0, July 30, 2020 available online here.

Filters

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automotive air filters
Automotive air filter
Geographic reference: World
Year: 2020 and 2028
Market size: $70.38 billion and $101.88 billion, respectively

Clean air and clean water. Two essentials for life on earth. In many ways, the use of filters is necessary for achieving this. Today’s market size shows total global revenues for filters in 2020 and projected for 2028. Growing concerns about reducing emissions from automotive and industrial applications as well as the increasing popularity of air and water purifiers among consumers will fuel demand for filters over this time period. 

By application, motor vehicles garnered more than 47% of the market in 2020, followed by consumer goods, utilities, industrial and manufacturing, and others. Increasing automotive production, especially in China, Indonesia, South Korea, Japan, Malaysia, and Taiwan along with stringent regulations aimed at reducing automotive pollution will create increased demand for automotive filters. Filters are used in several motor vehicle applications: oil intake, air filtration, and emission filtration. Filters for internal combustion engines accounted for more than 40% of the market in 2020. 

Fluid filter demand will increase due to the increased construction of water treatment plants globally. Fluid filters are also used in cold sterilization of beverages and pharmaceuticals, petroleum refining, dairy processing, and wine production. Air filters are expected to experience the fastest revenue growth through 2028 due to governments mandating the reduction of pollutants from vehicle emissions and the growing popularity of air purifiers that kill harmful bacteria and viruses in homes, hotels, airplanes, and train compartments. Demand for filters in the industrial and manufacturing sectors will center around Europe, North America, and the emerging industrialized regions of India, South Africa, Brazil, Thailand, and Indonesia.

The Asia-Pacific region held a 42% revenue share in 2020 due to the rapid industrialization in the region. The increasing pollution levels are leading governments to impose environmental quality regulations. As a result, demand for air and water filtration devices is expected to grow. In Europe, the rising demand for air filtration equipment in industries such as cement, chemicals, and metallurgy along with increasing adoption of air purifiers in Germany, France, Italy, and Spain will spur growth in this region. The North American automotive industry is expected to contribute to growth in filter revenue in this region. Also, technological breakthroughs in filtration processes, such as the implementation of nanotechnology, will lead to increased demand. In Central and South America, fluid filter demand is expected to significantly increase through 2028 as several wastewater treatment plants undergo construction due to growing water pollution levels in Brazil, Argentina, and Uruguay among others. The use of filters in Brazilian mining operations to control emissions is also expected to fuel demand in the region.

There are several major filter manufacturers around the world. Many companies are developing sustainable products that offer improved efficiency and value. Some are expanding their production capabilities to meet demand in various markets. Some major companies in this industry include 3M, Airex Filter Corp., Koch Filter, Freudenberg Filtration Technologies SE & Co. KG, Donaldson Co. Inc., Camfil AB, Parker Hannifin Corp., DENSO Corp., Clark Air Systems, and Spectrum Filtration Pvt. Ltd.

Sources: “Filters Market Size, Share & Trends Analysis Report by Product (ICE Filters, Air Filters, Fluid Filters), by Application (Motor Vehicles, Consumer Goods), by Region, and Segment Forecasts, 2021 – 2028,” Grand View Research Report Summary, March 2021 available online here; “Filters Market Size Worth $101.88 Billion By 2028 | CAGR: 4.7%: Grand View Research, Inc.,” CISION PR Newswire, April 5, 2021 available online here.
Image source: bb20_pt10, “air-filter-automotive-car-2690190,” Pixabay, August 28, 2017 available online here.

Next Generation Sequencing

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Next Generation Sequencing; DNAs double helix structure
On April 25, 1953, molecular biologist James Dewey Watson’s academic paper presenting DNA’s double-helix structure was published in the scientific journal, Nature.
Geographic reference: World
Year: 2020 and 2028
Market size: $3.99 billion and $11.7 billion, respectively

April 25th was National DNA Day. Events and celebrations commemorating the day are organized by the Human Genome Research Institute to encourage “people to learn more about the science that makes them genetically unique.”1 Why April 25th? On April 25, 1953, molecular biologist James Dewey Watson’s academic paper presenting DNA’s double-helix structure was published in the scientific journal, Nature. Francis Crick and Maurice Wilkins were co-authors. Almost 50 years to the day, on April 14, 2003, Human Genome Project scientists announced that the mapping of the human genome was complete.

Today’s market size shows total global revenues for next generation sequencing in 2020 and projected for 2028. Next generation sequencing (NGS), or massively parallel sequencing, describes a number of different modern sequencing techniques to directly determine the nucleic acid sequence of a DNA or cDNA molecule. NGS technology allows for the sequencing of DNA and RNA more quickly and cheaply2 with less DNA or RNA material needed than previous methods. Large-scale whole-genome sequencing can be done in one sequencing experiment. The Human Genome Project, which involved scientists at 20 institutions in France, Germany, Japan, China, the United Kingdom, and the United States, took 13 years to complete using the first-generation technique called Sanger sequencing. Sanger sequencing only sequences a single DNA fragment at a time. NGS sequences millions of fragments simultaneously. As a result, NGS may detect more novel or rare genetic variants.

NGS technology is popular among molecular biologists specializing in functional genomics. Functional genomics involves studying how genes function within a biological system, how genes interact with each other, and how genes interact with the environment. The oncology segment accounted for the largest share of revenues in 2020 at 28%. Leading companies are working toward an NGS-based diagnostics tool to detect cancer and analyze the genomic profiles of tumors to develop treatments for specific types of tumors. Some companies offer genetic testing to identify people who may be at higher risk of developing certain cancers. The development of targeted therapies, therapies targeted toward patients with specific or rare genetic biomarkers, is also increasing. 

The infectious disease segment of the industry is expected to be driven by the use of NGS technology to identify coronavirus strains. The technology is used to study the spread of COVID-19 and to map its evolution. The Covid-19 Genomics U.K. Consortium was formed in March 2020 to use Whole-Genome Sequencing (WGS) to analyze the coronavirus genome. Research is ongoing in the use of NGS technology to develop vaccines and therapies to treat the virus. WGS technology is expected to grow at a significant rate from 2021 to 2028 due to its use in tackling COVID-19.

Targeted sequencing and resequencing had a 73% revenue share in 2020. This is an economical alternative for WGS and allows for the in-depth investigation of genomic regions. RNA-based targeted sequencing is expected to have significant growth through 2028 due to the increasing demand for differential expression analysis. The use of this technology for the diagnosis of schizophrenia and other disorders and the increased availability of expression kits for customized panels are expected to contribute to its growth over this time period also.

Sequencing is a critical step in the genomics workflow. This segment experienced a 54% revenue share in 2020. Revenue in this segment is also expected to have the fastest compound annual growth rate through 2028 as the use of WGS increases. As the use of WGS increases, so too does the amount of data that needs to be analyzed. Increased spending on analysis and management tools for the sequenced data is expected to have a positive effect on revenue share.

Academic research had a 53% share in 2020, followed by clinical research, hospitals and clinics, and then pharmaceutical and biotech companies. Research accomplished at universities and research centers is expected to contribute to growth in the academic research sector through at least 2028. The clinical research segment is expected to grow the fastest from 2021 to 2028 due to the rising use of NGS-based diagnostic tests and the availability of commercial clinical research solutions from various companies. 

North America had a revenue share of 49.77% in 2020. The market was driven by several clinical laboratories that use NGS technology. Also, the development and launch of several new products using NGS technology are expected to increase market share through 2028. In August 2020, Quest Diagnostics started using the Automated NGS Engine to offer genetic risk screening for blood disorders, colon cancer, breast cancer, and heart diseases as part of AncestryHealth, a consumer genetics product of Ancestry. Although Ancestry decided to discontinue offering such tests in January 2021, Quest is continuing to develop applications that use NGS technology. The Asia Pacific region is expected to experience the fastest revenue growth through 2028 due to the presence of several leading NCS service providers in the region that offer their services to thousands of clinicians and hospitals across South Asia and India. 

The NGS industry is highly competitive. To gain market advantage companies have been focused on launching platforms that are rapid, small in size, and less expensive. In 2020 some companies introduced products to support research and development for COVID-19 vaccine development and products to sequence the complete genomes of viruses. Some leading companies in the NGS market include Illumina, QIAGEN, Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd., Oxford Nanopore Technologies, Genomatrix GmbH, PierianDx, DNASTAR Inc., Eurofins GATC Biotech GmbH, Perkin Elmer Inc., BGI Genomics, and Bio-Rad Laboratories Inc.

1 Source: “National DNA Day — April 25, 2021,” National Today available online here.
2 In less than 20 years, the cost of sequencing the human genome dropped from $100 million to less than $1,000.

Sources: “Next Generation Sequencing Market Size, Share & Trends Analysis Report by Technology (Targeted Sequencing & Resequencing), by Application (Oncology, Consumer Genomics), by Workflow, by End-Use, and Segment Forecasts, 2021-2028,” Grand View Research Report Summary, February 2021 available online here; “Next Generation Sequencing Market Size Worth $11.7 Billion by 2028: Grand View Research, Inc.” CISION PR Newswire, February 23, 2021 available online here; “National DNA Day — April 25, 2021,” National Today, February 17, 2020 available online here; “Who Was Involved in the Human Genome Project?” your genome, June 13, 2016 available online here; “Ancestry to Discontinue NGS-Based AncestryHealth Service,” GenomeWeb, January 15, 2021 available online here.
Image source: Gerd Altmann, “dna-genetic-material-helix-proteins-3539309,” Pixabay, July 15, 2018 available online here.

Yoga Mats

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Yoga mats
Geographic reference: World
Year: 2019 and 2026
Market size: $14.29 billion and $23.3 billion, respectively

April 7, 2021 is World Health Day. Established as one of the first official acts of the World Health Organization in 1949, it’s a day to promote and celebrate physical, mental, and emotional well-being worldwide. 

A growing number of people around the globe are incorporating yoga into their health and wellness routine. Practiced in India for thousands of years, yoga is a spiritual discipline that focuses on bringing harmony between mind and body, Man and Nature, with the ultimate goal being the “union of individual consciousness with that of the Universal Consciousness,” according to Dr. Ishwar V. Basavaraddi of the Ministry of External Affairs for the Government of India.1 The word “yoga” is derived from the Sanskrit root “yuj” which means “to join” or “to unite”.

Currently there are more than 300 million practitioners around the world with 50% being in India, although it is becoming less popular with younger generations there. In other parts of the world, yoga’s popularity has been on the rise in recent years with interest growing yearly. In Canada 1 in 5 people practice yoga. In the United States, about 1 in 10 do, with 37% of parents who practice reporting their children practice also.

Traditional yoga practice focuses more on the meditative aspect and as a consequence incorporates few standing poses. Modern yoga, with its wide variety of standing poses, is considered more of a physical wellness tool with a meditative component. There are more than 100 types of yoga being practiced around the world. Most people who start practicing yoga say they want to improve their flexibility. Other reasons for beginning the practice include stress relief and becoming mentally and physically stronger, healthier and fitter.

As stay-at-home orders became widespread and gyms and fitness centers closed during the coronavirus pandemic, people were finding ways to exercise at home and relieve stress. Home fitness equipment sales skyrocketed, with e-commerce sales of yoga equipment soaring 154% in 2020 compared to 2019. Today’s market size shows revenues for one type of yoga equipment, the yoga mat, for 2019 and projected for 2026. Unsurprisingly, the Asia-Pacific region held the highest market share in 2018.2 This was due to an increasing number of yoga practitioners in India, China, Japan, and Australia.

Yoga mats made of PVC (polyvinyl chloride) accounted for more than a third of the market in 2018. Its widespread availability and relatively low cost contributed to its popularity among consumers. However, revenues for cotton/jute mats are expected to grow at the fastest compound annual growth rate through 2026 as consumers seek eco-friendly products made of natural materials.

Specialty stores garnered more than half of the global revenue in 2018 and are expected to continue to have the highest market share by far through 2026. Customers prefer the guidance offered at these establishments which allows them to choose the accessories that are right for them. An increasing number of specialty stores, especially in China, South Korea, and Australia, is also contributing to a high market share in this sector. E-commerce is expected to be the fastest-growing distribution channel over this time period due to increasing internet access worldwide, the ability to comparison-shop, the availability of products, and the convenience of shopping 24/7. E-commerce had the third-highest market share in 2018, behind supermarkets and hypermarkets. By 2026, e-commerce’s share is expected to rank number two. Leading global manufacturers of yoga mats include Manduka, Jade Fusion, prAna, Hugger Mugger, Adidas, Lululemon Athletica, Ecoyoga, Aurorae Yoga LLC, Eupromed, and Yaazhtex.

The household segment held the highest share of the market before the pandemic and will likely continue to do so during and after. Forecasts initially predicted that the health club and fitness center sector would experience the fastest growth through 2026 due to an increasing number of health clubs and fitness centers opening and more and more of them offering yoga classes. However, this may not be the case in the near future. During the beginning of the pandemic, these types of businesses were shut down due to health concerns. As of September 30, 2020, in the United States, 15% closed permanently. In November, IHRSA, the International Health, Racquet and Sportsclub Association, predicted that 25% of facilities would close permanently by the end of 2020. By the fourth quarter of 2020 and continuing through the beginning of 2021, some health clubs and fitness centers were allowed to open at reduced capacity but even after reopening, revenue continued to decline and membership was down an average of 70%. Revenue and membership declines relative to 2019 levels are expected to continue through 2021. It remains to be seen what the fitness industry will look like post-pandemic in 2022 and beyond and how this will affect yoga mat sales going forward.  

1 Source: Dr. Ishwar V. Basavaraddi, “Yoga: Its Origin, History and Development,” Ministry of External Affairs, Government of India, April 23, 2015 available online here.
2 Source: Shankar Bhandalkar and Roshan Deshmukh, “Yoga Mat Market by Material (PVC, TPE, Rubber, Cotton/Jute, and Others), End User (Yoga & Fitness Clubs, Household, and Others), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Ecommerce, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026,” Allied Market Research Report Summary, February 2020 available online here. A July 2019 report by Grand View Research states that North America held the highest market share in 2018. The discrepancy may be due to the date of publication and scope of each report.

Sources: “COVID-19 Impact on Yoga Mat Market 2020 Global Analysis, Market Size, Share, Key Players, Trend, Opportunity and Revised Forecast Till 2026,” Wall Street Call, May 14, 2020 available online here; “World Health Day — April 7, 2021,” National Today available online here; Aleksandar Hrubenja, “Yoga Statistics and Facts: 2021 Edition,” Modern Gentlemen, November 30, 2020 available online here; Dr. Ishwar V. Basavaraddi, “Yoga: Its Origin, History and Development,” Ministry of External Affairs, Government of India, April 23, 2015 available online here; “COVID-19’s Impact on the Yoga Industry – Yoga Equipment Witnesses Growth of 154%,” GlobeNewswire, May 6, 2020 available online here; Randi Gollin, “Online Shopping Gains Momentum,” American Express Credit Intel, October 28, 2020 available online here; Sanela Puac, “30 Fresh Yoga Statistics & Facts You Should Know in 2021,” Loud Cloud Health, January 5, 2021 available online here; Melissa Rodriguez, “One in Four Health & Fitness Clubs Could Close by Year-End,” IHRSA, November 30, 2020 available online here; Shankar Bhandalkar and Roshan Deshmukh, “Yoga Mat Market by Material (PVC, TPE, Rubber, Cotton/Jute, and Others), End User (Yoga & Fitness Clubs, Household, and Others), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Ecommerce, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026,” Allied Market Research Report Summary, February 2020 available online here; “Yoga Mat Market Size, Share & Trends Analysis Report by Material (Cotton/Jute, PVC, TPE, Rubber, PE), by Distribution Channel (Specialty Store, Online Channel), by Region, and Segment Forecasts, 2019 – 2025,” Grand View Research Report Summary, July 2019 available online here.
Image source: bmwalkiewicz, “yoga-exercise-mats-3967979,” Pixabay, February 1, 2019 available online here.