Medical Nutrition Market Overview
Medical Nutrition Market insights report has valued the industry size at USD 45.1 billion in 2021 is projected to grow from USD 47.53 Billion in 2022 to USD 68.69 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.40% during the forecast period (2022 – 2030).
Primary Drivers and Impediments
Medical nutrition is generally recommended by a medical practitioner and is taken under supervision. It addresses all the dietary requirements of the person dealing with perpetual disorders like cancer, diabetes, reduced immune system and more. Changes in the way of living for the worse along with the emergence of more diseases have bolstered the need for medical nutrition.
The burgeoning elderly population across the globe has been favorable as well, given that this demography is highly prone to a number of diseases such as Parkinson’s, anxious scatters, organ failure, diabetes, to name a few. These patients encounter issues related to poor food ingestion and therefore, need parenteral medical nutrition that can cater to their nutritional requirements.
The medical nutrition market also stands to benefit from the rising preference of the patients for Home Parenteral and Enteral Nutrition (HPEN). Meanwhile, the supportive reimbursement scenario across developed countries also fosters market growth. Heightened demand for better quality of healthcare facilities and therapies will also work in favor of the global industry in the following years.
The global industry has been considered with respect to type, product type, application, route of administration, and distribution channel.
The types of medical nutrition are elderly nutrition, pediatric nutrition, sports nutrition and parenteral nutrition. Between these, pediatric nutrition has garnered the biggest share of 30.2% in the worldwide market, thanks to the rapid increase in premature births across China and India.
Considering the product type, the market primarily caters to multiple vitamins, amino acid solutions, lipid emulsions, antioxidants, chamber bags and trace elements. In the lead is the amino acid solutions segment and could soar at a substantial rate in the following years.
With respect to route of administration, the major segments can be parenteral, oral, and others. Parenteral route of administration is the most common technique due to a host of advantages such as higher bioavailability of the active pharmaceutical ingredients with a small therapeutic index.
The applications of medical nutrition are cancer, renal failure, obesity, gastrointestinal diseases, pediatric malnutrition, diabetes, neurological diseases and pulmonary diseases. The pediatric malnutrition segment might capture a significant growth rate in the near future, given the surge in lactose intolerance, maple syrup urine disease, allergy to cow’s protein milk, insulin resistance and phenylketonuria among children and infants worldwide.
Major distribution channels studied in the MRFR report include retail pharmacies, compounding pharmacies, E-commerce websites and hospitals.
Asia Pacific/APAC, MEA or Middle East & Africa, Americas and Europe are the key markets for substance abuse treatment worldwide.
The biggest market for medical nutrition belongs to America, with the US standing at the vanguard. Escalating number of disorders, especially among the elderly people and children should elevate the medical nutrition market share in the region. Recent years have witnessed a rising focus of firms and hospitals on aging, disease prevention and health and wellness. This is more so due to the escalation in chronic diseases, like ischemic stroke, coronary artery disease, cancer and diabetes, which has raised the need for preventive nutrition. Availability of responsive, efficient and equitable health systems across the region also facilitates market expansion to a large extent.
The fastest growth rate is expected to be witnessed by Asia Pacific, considering that the region is witnessing a surge in premature births as well as rising birth rate. Mounting awareness levels among people and the improvement in medical facilities, has fostered the demand for medical nutrition. The infant category in the APAC market for clinical nutrition is anticipated to be quite profitable in the years to come.
Solace Nutrition (U.K.), Danone (France), Abbott Nutrition (U.S.), Nutricia Advanced Medical Nutrition (Netherlands), Primus Pharmaceuticals (U.S.), Baxter International (U.S.), Mead Johnson and Company, LLC. (U.S.), Braun Melsungen AG (Germany), AYMES Nutrition International Ltd. (U.K.), NeoMed (U.S.), Nestle Health Science (Switzerland), are some of the leading firms profiled in the medical nutrition market outlook report.
Most of these companies are engaged in acquisition, innovations, and expansion to gain the edge over their competitors and capture a bigger share in the global market.
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