Burlingame, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The global medical nutrition market size was valued at US$ 13.55 Billion in 2022, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030, according to a new study conducted by Coherent Market Insights, Inc. The medical nutrition includes specialized nutritional products manufactured to meet the dietary requirement of individuals with specific medical conditions or illnesses. The medical nutrition market is growing on the account of growing prevalence of malnutrition, cancer, gastrointestinal disorders, metabolic disorders, diabetes, and more. Medical nutrition products are formulated to provide targeted nutrients and support to help manage various chronic disease.
Key Industry Insights & Findings from the report:
In January 2022, Herbalife Nutrition, a premier global nutrition company, introduces its latest science-backed product, Fat Release, to support its consumers' healthy and active lifestyles.
In January 2023, Nutricia has launched Fortimel PlantBased Energy – the Danone brand’s first plant-based oral nutritional supplement. Made from pea and soy protein, the new offering is meant to meet the dietary needs of malnourished patients and those at risk of becoming malnourished
Global Medical Nutrition market is expected to exhibit a CAGR of 5.8% during the forecast period, owing to growing prevalence of chronic disease, increasing healthcare expenditure, growing geriatric population, and increasing research and development activities in medical nutrition products.
On the basis of Nutrition Type, multi-vitamins and antioxidants segment is expected to hold a dominant position, owing to the growing prevalence of chronic disease.
On the basis of Patient Type, Geriatric Nutrition segment is expected to hold a dominant position, owing to the growing geriatric population coupled worldwide.
On the basis of Indication, Cancer segment is expected to hold a dominant position, owing to the high prevalence of cancer around the globe and it is a second leading cause of death worldwide.
On the basis of Route of Administration, oral segment is expected to hold a dominant position, owing to the fact that it is easily consumable products and is also easily available.
On the basis of End User, Hospitals segment is expected to hold a dominant position, owing to the increasing number of hospital and growing spendings on healthcare facilities.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to increasing prevalence of chronic disease, growing healthcare expenditure, and rising awareness regarding the medical nutrition products.
Read full market research report, "Medical Nutrition Market, by Nutrition Type (Proteins, Carbohydrates, Multi-vitamins and Antioxidants, Amino Acids, Fibers, Minerals, and Others), by Patient Type, and by Region, Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030", published by Coherent Market Insights.
Key Trends and Analysis of the Global Medical Nutrition Market:
Advancements in medical research is to develop new product is a growing trend. Ongoing research into the relation between nutrition and disease management has resulted in the advent of innovative products that address specific nutritional needs of patients. For instance, in May 2023, Arla Foods Ingredients (AFI) has developed a solution that increases the protein content of juice-style oral nutrition supplements (ONS) for medical nutrition to 7% without compromising taste or mouthfeel.
Medical Nutrition Market Report Coverage
| Report Attribute | Details |
| Market size value in 2022 | US$ 13.55 billion |
| Forecast Period: | 2023 to 2030 |
| Growth rate | CAGR of 5.8% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2021 |
| Forecast period | 2023 - 2030 |
Market Drivers:
Growing prevalence of chronic disease to drive medical nutrition market growth
Rise in prevelanec of disease due to sedentary lifestyle is creating demand for medical nutrition product. According to the National Informatics Centre( NIC ), Chronic or the Non-communicable diseases are on the rise across the globe accounting for 73% of all deaths. In India, non-communicable diseases accounts for 53% of all deaths and 44 % of disability-adjusted life-years lost.
Increasing geriatric population to propel market growth
Growing geriatric population is subsequently increasing the prevalence of chronic disease and need for various nutritious medical products. This has expanded the potential customer base for medical nutrition products. According to the World Health Organization, in 2050, 80% of older people will be living in low- and middle-income countries. By 2030, 1 in 6 people in the world will be aged 60 years or over. The pace of population ageing is much faster than in the past. In 2020, the number of people aged 60 years and older outnumbered children younger than 5 years. The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
Market Opportunities:
Improvement in healthcare infrastructure across developing countries to provide significant market opportunities
Imporvement in healthcare facilities due to increasing investment is projected to serve major growth opportunities. According to the U.S. Centers for Medicare & Medicaid Services, U.S. health care spending grew 2.7 percent in 2021, reaching $4.3 trillion or $12,914 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 18.3 percent
Detailed Segmentation:
- Global Medical Nutrition Market, By Nutrition Type:
- Proteins
- Carbohydrates
- Multi-Vitamins and Antioxidants
- Amino Acid
- Fibers
- Minerals
- Others
- Global Medical Nutrition Market, By Patient Type:
- Infant Nutrition
- Adult Nutrition
- Geriatric Nutrition
- Global Medical Nutrition Market, By Indication:
- Diabetes
- Cancer
- Gastrointestinal Diseases
- Metabolic Syndromes
- Others
- Global Medical Nutrition Market, By Route of Administration:
- Oral
- Enteral
- Parenteral
- Global Medical Nutrition Market, By End User:
- Hospitals
- Home Care Settings
- Long Term Care
- Ambulatory Surgical Centers
- Global Medical Nutrition Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
- Company Profiles
- Abbott
- Baxter
- Danone S.A.
- Nestle
- GSK Plc
- Fresenius Kabi AG
- Sun Pharmaceutical Industries Ltd.
- BASF SE
- DSM
Related Market Intelligence Reports:
Sulfasalazine Market, By Product Type (Generic Sulfasalazine, Branded Sulfasalazine), By Application (Rheumatoid Arthritis, Inflammatory Bowel Diseases, Crohns Disease, Ulcerative Colitis), And By Geography, Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
Aortic Stenosis Market, By Type (ongenital Aortic Stenosis, Acquired Aortic Stenosi), By Age Group(ediatric Aortic Stenosis, Adult Aortic Stenosis), By Severity (Mild Aortic Stenosis, Moderate Aortic Stenosis, Severe Aortic Stenosis, and By Geography, Size, Share, Outlook, and Opportunity Analysis, 2023- 2030
Sprycel Market, By Demographic (Age, Gender, Income), By Geographic (Region, Country), By Psychographic (Lifestyle, Attitudes), By Behavioral, And By Geography, Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Browse through Coherent Market Insights Pharmaceutical Research Reports.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
