Wilmington, Delaware, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The medical nutrition market was estimated to have acquired US$ 36.5 billion in 2017. It is anticipated to register a 6.2% CAGR from 2018 to 2027 and by 2027, the market is likely to gain US$ 62.7 billion.
The key element driving the market for medical nutrition is the aging population, which is increasing, leading to a higher prevalence of age-related health conditions such as malnutrition, diabetes, and sarcopenia. The factor drives the demand for medical nutrition products tailored to the specific needs of elderly individuals.
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Rising chronic diseases like diabetes, cardiovascular diseases, are also driving the demand for medical nutrition and cancer necessitates specialized nutritional support, which is creating a substantial market for medical nutrition products.
Rising awareness among consumers and healthcare professionals about the importance of nutrition in managing health conditions has boosted the demand for medical nutrition products. Ongoing research and development efforts have led to the creation of innovative medical nutrition products with enhanced nutritional profiles, bioavailability, and ease of consumption.
Global Medical Nutrition Market: Key Players
A number of dominant worldwide firms hold the majority of the market share in the medical nutrition industry. The market's major companies are concentrating on diversifying their product lines. The big players' primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global medical nutrition market:
- Abbott Laboratories
- Nestlé Health Science
- Danone S.A.
- Fresenius Kabi AG
- Mead Johnson Nutrition Company (Acquired by Reckitt Benckiser Group plc)
- B. Braun Melsungen AG
- Perrigo Company plc
- Nutricia (a subsidiary of Danone)
- Meiji Holdings Co., Ltd.
- GlaxoSmithKline plc
- Medifast, Inc.
Key developments in the global medical nutrition market are:
- In 2023, Nestlé Health Science launched a new line of medical nutrition products for people with Alzheimer's disease.
- In 2023, Danone acquired Nutricia, a leading provider of medical nutrition products for infants and children.
- In the same year, Baxter International expanded its product line of medical nutrition products for people with critical illnesses.
- In 2022, Fresenius Kabi launched a new line of medical nutrition products for people with cancer.
- In the same year, Abbott Laboratories acquired Mitra Biotech, a leading developer of medical nutrition products for people with digestive disorders.
Key Findings of the Market Report
- The incorporation of probiotics and products promoting gut health is a growing trend, as research links the gut microbiome to various health conditions, including immune function and mental health.
- Consumers are seeking medical nutrition products with clean labels, minimal additives, and transparent ingredient lists. Brands that prioritize transparency in their formulations gain consumer trust.
- Companies are investing in technology to offer personalized medical nutrition plans based on an individual's health data, dietary preferences, and genetic makeup.
- Expanding into the functional beverages category, such as medical nutrition drinks and shakes, provides a convenient and appealing way to deliver necessary nutrients to consumers.
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Market Trends for Medical Nutrition
- Untapped markets in developing countries offer significant growth opportunities as healthcare infrastructure improves and awareness of medical nutrition benefits spreads.
- The intersection of medical nutrition and sports nutrition presents opportunities to develop specialized products for athletes and fitness enthusiasts.
- Leveraging digital health technologies like telehealth and mobile apps can enhance the delivery and monitoring of medical nutrition interventions.
- Medical nutrition's role in preventive healthcare is gaining recognition, opening avenues for interventions that reduce the risk of chronic diseases.
Market for Medical Nutrition: Regional Outlook
Various reasons are propelling the growth of the medical nutrition market in different countries. These are:
North America
- North America has a significant aging population, and elderly individuals often require specialized medical nutrition products to manage age-related health conditions and maintain overall well-being.
- The region is witnessing a surge in chronic diseases like diabetes, obesity, and cardiovascular disorders. Medical nutrition plays a crucial role in managing these conditions and preventing complications.
- The high prevalence of obesity in North America has led to an increased demand for weight management and bariatric medical nutrition products, including meal replacements and low-calorie diets.
Europe
- Hospitals, clinics, and healthcare institutions across Europe rely on clinical nutrition products for patient care, creating a significant market within the healthcare sector.
- Europe is a hub for medical and nutritional research, fostering innovation in the development of specialized medical nutrition products catering to various health conditions.
- European governments often support initiatives promoting good nutrition and healthy lifestyles. The initiatives boost awareness and drive the adoption of medical nutrition.
Global Medical Nutrition Market Segmentation
Product Type
- Standard Formula
- Specialized Formula
Indication
- General Well-being
- Enteral Nutrition
- Parental Nutrition
- Renal Disorders
- Enteral Nutrition
- Parental Nutrition
- Hepatic Disorders
- Enteral Nutrition
- Parental Nutrition
- Oncology Nutrition
- Enteral Nutrition
- Parental Nutrition
- Diabetes
- Enteral Nutrition
- Parental Nutrition
- Dysphagia
- Enteral Nutrition
- Parental Nutrition
- Respiratory Disorders
- Enteral Nutrition
- Parental Nutrition
- IBD & GI
- Enteral Nutrition
- Parental Nutrition
- Neurological Disorders
- Enteral Nutrition
- Parental Nutrition
- Others
- Enteral Nutrition
- Parental Nutrition
End User
- Adult
- Geriatric
- Pediatric
Flavor
- Regular
- Flavored
- Chocolate
- Vanilla
- Strawberry
- Apple
- Mixed Berries
- Orange
- Nut Flavors
- Others
Distribution Channel
- Direct
- Indirect
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
- Others
Region
- North America
- Latin America
- Europe
- APEJ
- Oceania
- Japan
- Middle East and Africa
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