USD 13.45 Billion
Report ID:
SQMIG35D2252 |
Region:
Global |
Published Date: May, 2024
Pages:
218
|Tables:
125
|Figures:
86
Global Medical Nutrition Market Report size was valued at USD 13.45 Billion in 2022 and is poised to grow from USD 14.1 Billion in 2023 to USD 21.80 Billion by 2031, at a CAGR of 5.6% during the forecast period (2024-2031).
The global population is getting older, and this trend is seen in almost every country. Older people are more likely to have age-related health issues like nervous disorders, Parkinson’s disease, diabetes, and organ failure. Many elderly patients have trouble eating regular food and need special nutrition delivered directly into their bloodstream (parenteral nutrition) to stay healthy. Hospitals see more elderly patients and often need longer stays. This increase in elderly patients has led to more use of parenteral nutrition in recent years. Home parenteral nutrition therapy is becoming more common among elderly people with chronic illnesses like diabetes, cancer, and AIDS, which is expected to boost the medical nutrition market. The rise in chronic diseases is also leading to more cases of malnutrition, especially among patients with chronic obstructive pulmonary disease (COPD), a major cause of disability and death worldwide. Treating malnutrition in these patients requires specialized nutrients considered as medications, not just supplements. Medical nutrition products help keep patients healthy by providing essential nutrients like minerals and vitamins.
Several factors are driving the growth of the medical nutrition market, including the increasing prevalence of metabolic disorders, higher healthcare spending, and the growing middle class in emerging economies. The number of people diagnosed with metabolic disorders is rising, creating opportunities for medical nutrition companies. Healthcare spending is increasing faster than economic growth in many countries, leading to higher demand for medical nutrition products. There are also funding opportunities for clinical nutrition research from governments and private foundations, which are helping to grow the market.
Global Market Size
USD 13.45 Billion
Largest Segment
Oral
Fastest Growth
Parenteral
Growth Rate
5.6% CAGR
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The global medical nutrition market is segmented based on type, product type, administration route, application, distribution channel and region. By type, the market is segmented into paediatric nutrition, elderly nutrition, parenteral nutrition, and sports nutrition. By product type, the market is segmented into amino acid solutions, multivitamin supplements, antioxidants, lipid emulsions, trace elements, and chamber beads. By administration route, the market is segmented into oral, parenteral, and intravenous. By application, the market is segmented into pulmonary disease, cancer, gastrointestinal disease, obesity, diabetes, paediatric malnutrition, renal failure and neurological diseases. By distribution channel, the market can be segmented into compounding pharmacies, hospitals, retail pharmacies, and ecommerce websites. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Analysis By Type
The largest segment is pediatric nutrition, which focuses on providing specialized nutrition for infants and children. This segment is significant due to the high demand for nutrition products tailored to the unique needs of growing children.
The fastest-growing segment is parenteral nutrition, which involves delivering nutrients directly into the bloodstream. This method is increasingly used for patients who cannot eat or digest food normally, such as those undergoing surgery or with digestive disorders. The demand for parenteral nutrition is growing rapidly due to the rising prevalence of chronic diseases and surgical procedures requiring nutritional support. Additionally, advancements in medical technology and research are leading to the development of more specialized parenteral nutrition formulations, further fueling the growth of this segment.
Analysis By Product Type
The largest segment is multivitamin supplements, which provide a combination of essential vitamins and minerals to support overall health. These supplements are widely used by individuals of all ages and are considered essential for maintaining proper nutrition.
The fastest-growing segment is amino acid solutions, which provide essential building blocks for proteins needed for tissue repair and growth. These solutions are in high demand for patients with medical conditions that require additional protein intake, such as surgery recovery or muscle wasting diseases. The increasing prevalence of chronic diseases and surgical procedures that require nutritional support is driving the growth of this segment. Additionally, advancements in medical technology and research are leading to the development of more specialized amino acid solutions tailored to specific patient needs, further fueling the growth of this segment.
Analysis By Administration Route
The largest segment is oral nutrition, where patients consume supplements or formulas by mouth. This method is the most common and convenient for many patients, making it the largest segment.
The fastest-growing segment is parenteral nutrition, where nutrients are delivered directly into the bloodstream. This method is increasingly used for patients who cannot eat or digest food normally, such as those undergoing surgery or with digestive disorders. The demand for parenteral nutrition is growing rapidly due to the rising prevalence of chronic diseases and surgical procedures requiring nutritional support. Additionally, advancements in medical technology and research are leading to the development of more specialized parenteral nutrition formulations, further fueling the growth of this segment.
Analysis By Application
The largest segment is pediatric malnutrition, focusing on providing nutrition for children who are malnourished. This segment is significant due to the high prevalence of malnutrition among children globally.
The fastest-growing segment is cancer, where medical nutrition plays a crucial role in supporting patients undergoing treatment. Cancer patients often experience appetite loss and difficulty eating, making it essential to provide them with specialized nutrition to maintain their strength and overall health. The increasing incidence of cancer worldwide and the recognition of the importance of nutrition in cancer care are driving the growth of this segment.
Analysis By Distribution Channel
The largest segment is hospitals, where medical nutrition products are commonly prescribed and administered to patients as part of their treatment plans. Hospitals have extensive infrastructure and healthcare professionals to provide comprehensive care, making them the primary distribution channel.
The fastest-growing segment is ecommerce websites, as more consumers are turning to online platforms to purchase medical nutrition products for convenience and accessibility. This trend is driven by the increasing availability of medical nutrition products online and the growing preference for online shopping among consumers. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, further boosting the growth of ecommerce channels for medical nutrition products.
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The dominating region in the Global Medical Nutrition Market Report is North America, which holds a significant market share, followed by Europe. The rising cases of malnutrition have boosted the medical nutrition market in North America. In the US alone, around 2 million people suffer from hunger, including 13 million children (about twice the population of Arizona). North America has a big share of 35% in the medical nutrition market. The region sees a lot of cancer and metabolic health issues, so medical nutrition is used a lot. Also, there are more elderly people there. For example, by 2025, Canada and the USA will have around 30% of their population aged 60 and above. North America is expected to continue dominating the global medical nutrition market by 2031. Additionally, the US is expected to show significant growth in this market.
Asia-Pacific has been the fastest growing market in the Global medical nutrition market. In the Asia Pacific region, the prevalence of inflammatory bowel disease (IBD) and gastrointestinal (GI) tract disorders is increasing, which is driving growth in the medical nutrition market. In the Asia-Pacific region, there's a great opportunity for growth in the next few years, from 2024 to 2031. This is because people in low-middle income countries are living six years longer, and in high-income countries, they're living four years longer. Also, the fertility rate has decreased from 2.6 to 2.1. This increase in life expectancy and decrease in fertility rates are linked to better medical facilities. As a result, there's been an increase in metabolic and neurological disorders, creating more demand for medical nutrition products. This is why the medical nutrition market is expected to grow in this region. Asia Pacific is expected to be the leading region for medical nutrition market growth due to the rising number of diseases like diabetes and cancer. The increasing prevalence of cancer is also expected to contribute to the global medical nutrition market growth.
However, the Middle East and Africa region are expected to have slower growth in the medical nutrition market due to limited access to quality healthcare.
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Drivers
The Rising Senior Population Worldwide
Rising Healthcare Expenditure
Treating Acute Malnutrition in Non-Hospital Settings
Dietary Shifts and the Growth of Medical Nutrition Industry
Restraints
Side Effects and Complications
High Production Costs
Low Exposure Towards Nutrition
Adapting to Evolving Dietary Guidelines in Medical Nutrition Industry
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The global medical nutrition market is primarily consolidated, with a few key players dominating the industry. Companies such as Nestlé Health Science, Abbott Nutrition, and Danone Nutricia hold significant market shares due to their extensive product portfolios and established distribution networks. However, the market also features some fragmentation, with smaller players and emerging startups carving out ideal position with specialized offerings. Competitors in the medical nutrition industry must offer cost effective treatments and products to expand and survive in an increasingly competitive and rising market environment. One of the primary businesses strategies adopted by manufacturers in the medical nutrition industry to benefit patients and expand market sector is to manufacture locally to reduce operating costs. Despite some fragmentation, the market is predominantly consolidated, with major players driving industry trends and innovation.
Top Player’s Company Profile
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Medical Nutrition Market Report analysis, there are several factors which shape the path of the medical nutrition market. Medical nutrition products are mostly used by elderly people, but adults are also using them for overall health. This creates good opportunities for companies in the market. By focusing on specialized products for specific conditions, companies can expect to grow. People are willing to pay more for these products. With increasing global health issues, sales of medical nutrition products are expected to rise. The paediatric segment is expected to hold the medical nutrition market, driven by the unique nutritional needs of children. Meanwhile, the cancer segment is experiencing quick growth due to the increasing incidence of cancer and the importance of specialized nutrition in supporting patients undergoing treatment. These trends indicate significant opportunities for companies operating in the medical nutrition market to cater to the specific needs of these segments and drive growth. Leading the global parenteral nutrition market, North America is driven by the presence of established healthcare infrastructure, high healthcare expenditure, and increasing prevalence of chronic diseases. One big trend is choosing eco-friendly and plant-based options because they're sustainable. Medical nutrition companies should focus on meeting changing consumer needs to increase profits. They should expand globally and target growing markets like Asia-Pacific (AP), Europe (EJ), and the Middle East and Africa (MEA) to grow their business.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.45 Billion |
Market size value in 2031 | USD 21.80 Billion |
Growth Rate | 5.6% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Medical Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Nutrition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Nutrition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35D2252
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