As 2024 unfolds, the realms of life and food sciences are poised for groundbreaking transformations. From cutting-edge biotechnologies to sustainable food solutions, this article provides a captivating glimpse into the future. Discover how these top 10 trends are not just revolutionizing scientific research, but also reshaping our everyday lives, offering new perspectives on health, sustainability, and the global food landscape.
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Below, the Top 10 Life & Food Sciences Emerging Trends according to SCOUT, our Future Intelligence platform.
Genetic Engineering is a pivotal trend in 2024, driven by a remarkable growth trajectory. The market is projected to reach USD 5811 million by 2030, expanding at a robust CAGR of 24.20%. This surge is fueled by significant governmental investments in genomics. The genetic markers segment, essential in personalized medicine and molecular biology research, dominates the market, accounting for 60.4% of revenue. Innovations like real-time polymerase chain reaction (RT-PCR) tests for monkeypox by GenScript USA and the use of gene guns in agriculture and medicine signify the sector's dynamic growth [source]. The United States leads in market share, owing to increased government investments and advancements in gene therapy research. This includes initiatives like the NIH and USFDA partnering with pharmaceutical companies and non-profits to accelerate gene therapy development for rare diseases. The rising investment in gene therapy underscores the sector's potential and growth trajectory in the United States [source].
Gene therapy is a key trend in 2024, with the market projected to grow at a robust CAGR. The global gene therapy market is anticipated to reach a value of USD 10.11 billion in 2024, with a forecast of USD 29.51 billion by 2030, showcasing a growth rate of 19.5% from 2024 to 2030 [source]. North America, especially the United States, is a major contributor, with significant government investments and advancements in gene therapy research. Key developments include FDA approvals of novel therapies like Zolgensma for spinal muscular atrophy and Evrysdi for babies with SMA. Collaborations between major pharmaceutical companies and non-profits, aiming to accelerate the development of gene therapies for rare diseases, are notable drivers of this market growth. Leading companies in this sector, including Novartis AG, Amgen Inc., and Gilead Sciences, Inc., are actively pursuing product approvals and strategic collaborations to strengthen their market [source].
Machine Learning is set to be a significant trend in 2024, also in the life and food sectors. The global market is expected to reach USD 1.80 billion by 2024, growing at a CAGR of 43.90% to USD 11.12 billion by 2029. In the life sciences sector, machine learning is revolutionizing drug discovery, personalized medicine, and genetic research. Cloud-based platforms from AWS, Google Cloud AI, and Microsoft Azure are enabling large enterprises to leverage vast datasets for predictive modeling and complex simulations. In the food industry, machine learning is enhancing food safety, supply chain optimization, and consumer behavior analytics. The technology is key in developing sustainable food production methods and personalized nutrition plans, addressing global food security challenges. Regionally, North America leads in adoption due to its focus on ethical AI, while Asia Pacific's growth is fueled by governmental initiatives and innovative applications like Baidu Inc.'s chatbot service. Europe's market growth is driven by increased IT investments post-COVID-19, and emerging markets in the Middle East, Africa, and Latin America are rapidly adopting AI technologies, including in the life and food sectors [source][source].
Regenerative Medicine is a transformative trend, with the market poised to grow significantly in life and food sectors. By 2024, the global market size is estimated to be USD 38.65 billion. In life sciences, regenerative medicine is making strides in treating diseases like cancer and diabetes, and in developing gene therapies that target diseases at a genomic level. In the food sector, regenerative medicine's potential is being explored in improving food safety and quality. Advancements in tissue engineering and biomaterials are expected to play a crucial role in developing sustainable and healthier food options, aligning with the global shift towards ethical and environmentally friendly food production methods [source]. Key players in the regenerative medicine market include AstraZeneca plc, F. Hoffmann-La Roche Ltd., Integra Lifesciences Corp., and Astellas Pharma Inc., among others. These companies are investing in R&D and forming strategic collaborations to develop innovative regenerative therapies [source].
The global personalized medicine market is a significant trend in the life & food sectors, with its market size valued at USD 567.32 billion in 2023 and projected to reach USD 922.72 billion by 2030, growing at a CAGR of 7.20%. In life sciences, personalized medicine is revolutionizing patient care by offering tailored therapies based on individual genetic profiles, especially in oncology, neurology, and cardiology. In the food sector, personalized medicine's impact is seen in the development of personalized nutrition and wellness programs. These programs use individual's genetic information to tailor dietary and wellness recommendations, enhancing health outcomes and preventing diseases. Key players in this market include Abbott, Merck & Co., Inc., AstraZeneca, Pfizer Inc., and GlaxoSmithKline plc. These companies are actively involved in launching new products and forming strategic partnerships to expand their market presence [source] [source].
Digital health's significance lies in its potential to transform the healthcare landscape by offering accessible, efficient, and personalized solutions that enhance patient care and promote overall well-being. It's projected to grow significantly, reaching USD 296.46 billion in 2024 and further expanding to USD 655.57 billion by 2029 at a CAGR of 17.20%. The market's growth is driven by the increased use of smartphones, wearables, and health apps, as well as a growing focus on fitness and well-being. In life sciences, digital health technologies are revolutionizing healthcare delivery and patient engagement. The diabetes segment, for instance, dominates the application of digital health due to the prevalence of the condition and the need for continuous monitoring and management. In the food sector, digital health is playing a critical role in personalized nutrition and wellness. Mobile health applications are increasingly being used to track dietary habits, nutritional intake, and physical activities, aligning with the global trend towards healthier lifestyles. Prominent companies in this sector include Koninklijke Philips N.V., Abbott, Medtronic, Apple Inc., and Cerner Corporation, among others. These companies are focusing on developing innovative solutions to meet the growing demand in the market [source] [source].
Genome editing is prominently featured in the 2024 list of top trends for the food & sciences industry due to its significant market growth and technological advancements. The global genome editing market was valued at approximately USD 6.39 billion in 2022 and is projected to grow at a CAGR of 17.8% from 2023 to 2030. In life sciences, genome editing technologies like CRISPR, TALEN, and ZFN are revolutionizing the field by enabling precise genetic modifications for disease treatment and drug development. Significant investments by governments in genomics research and the availability of funding for academic and governmental institutes are key factors driving this growth [source]. In the food sector, genome editing is emerging as a crucial tool for enhancing food quality and safety testing. It's being used in plant and animal genetic engineering, with applications ranging from improving crop yields to creating nutraceuticals from algae [source]. Key players include System Biosciences LLC, Horizon Discovery Group PLC, Takara Bio, GeneCopoeia, Inc., and Cellecta, Inc. These companies are engaging in strategic initiatives like mergers, acquisitions, and collaborations to enhance their market presence and are involved in ongoing research and development to develop new products [source].
The global computational biology market is set to witness significant growth in 2024, with a projected CAGR of 22.5% between 2024 and 2032, reaching a value of over USD 32.55 billion by 2032. This growth is primarily driven by increased bioinformatics research, advancements in drug discovery and disease modeling, and the rising demand for personalized medicine [source]. The segment of drug discovery and disease modeling is the largest shareholder in the computational biology market and is estimated to reach a value of USD 9,365 million by 2030 at a CAGR of 19.6%. This growth is attributed to computational methods accelerating the drug discovery process, thereby reducing costs and transforming medication design. Key players in the computational biology market include Dassault Systèmes SE, Chemical Computing Group ULC, Genedata AG, Instem PLC, and Compugen Ltd [source]. These companies are focusing on developing cost-efficient and technologically advanced products through various strategies such as new product launches, mergers, and acquisitions.
The global nutraceutical market is expected to experience substantial growth, with a projected CAGR of 5.09% from 2024 to 2029, reaching an estimated value of USD 626.02 billion by 2029. This surge is driven by rising consumer awareness about health benefits, increasing demand for functional foods and dietary supplements, and a shift towards preventive healthcare. Key product types fueling market growth include dietary supplements, functional foods, and beverages, with a focus on antioxidants, probiotics, and polyunsaturated fatty acids for health issues like obesity and heart disease. Major players in the global nutraceutical market include Pfizer Inc., General Mills Inc., Danone, Nestlé S.A., Herbalife Nutrition Ltd., Amway Corporation, PepsiCo Inc., Glanbia Plc, Archer Daniels Midland Company, and Royal DSM N.V. [source].
Protein Engineering is a key trend in 2024, with the market poised for significant growth. Valued at USD 3.72 billion in 2023, it's expected to expand to USD 15.25 billion by 2032, propelled by a robust CAGR of 16.97%. The instrument segment dominates the market, underscoring the importance of advanced tools in protein manipulation and modification for therapeutics and industrial processes. The rational protein design segment leads in technology, leveraging computational methods for precise protein modification. Monoclonal antibodies, used extensively for therapeutic purposes, particularly in cancer and autoimmune disorders, form the largest protein type segment. The market's expansion is fueled by collaborations, state grants, and advancements in AI and automation. Key players like Amgen Inc., Thermo Fisher Scientific, GenScript Biotech Corp, and PerkinElmer Inc. are driving innovation through advanced research, development of novel protein therapies, and provision of critical analytical tools and technologies [source].
As we wrap up our journey through the article, it's evident that these trends are not just shaping the present but are paving the way for a brighter, more innovative future. The remarkable advancements in genetic engineering, gene therapy, and protein engineering, coupled with the transformative potential of machine learning and computational biology, signal a new era of discovery and solution-oriented approaches in both life and food sciences. These trends are more than just scientific breakthroughs; they are beacons of hope, promising improved health, enhanced sustainability, and a deeper understanding of the intricate tapestry of life. As we look towards this promising horizon, we are reminded that the future is not just something we inherit, but something we create with our ingenuity, curiosity, and relentless pursuit of knowledge.
Technology Intelligence can be defined as the synergistic combination of artificial intelligence (AI) with scouting and landscaping methodologies. Scouting involves actively seeking out and gathering information on emerging technologies, trends, and developments across various domains. Meanwhile, landscaping involves analyzing and mapping the technological landscape to identify key players, innovations, and potential disruptions. By leveraging AI algorithms and advanced data analytics, Technology Intelligence enables organizations to gain actionable insights into the ever-changing technological landscape, empowering them to make informed decisions, anticipate market shifts, and stay ahead of the competition.
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