Medical Nutrition Market Size to Grow USD 88940 Million by 2030 at a CAGR of 6% | Valuates Reports
BANGALORE, India, May 13, 2024 /PRNewswire/ -- Medical Nutrition Market is Segmented by Type (Pediatric Nutrition, Adult Nutrition, Geriatric Nutrition, Sport Nutrition), by Application (Pediatric Malnutrition, Gastrointestinal Diseases, Renal Failure, Cancer, Pulmonary Diseases, Diabetes, Neurological Diseases, Metabolic Disorders).
The Global Medical Nutrition Market was valued at USD 58870 Million in 2023 and is anticipated to reach USD 88940 Million by 2030, witnessing a CAGR of 6.0% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Medical Nutrition Market:
The Medical Nutrition market is experiencing notable growth driven by several key factors. Firstly, there is a rising awareness among consumers regarding the importance of nutrition in managing various medical conditions, such as malnutrition, diabetes, and gastrointestinal disorders. This heightened awareness, coupled with an increasing aging population globally, has spurred demand for specialized nutritional products tailored to address specific health needs. Furthermore, advancements in medical research and technology have led to the development of innovative nutritional solutions, including personalized nutrition and functional foods, further expanding the market. Additionally, the growing prevalence of chronic diseases and the emphasis on preventive healthcare strategies are driving healthcare providers and policymakers to prioritize medical nutrition interventions, contributing to market growth. These factors collectively propel the Medical Nutrition market forward, with significant opportunities for expansion and innovation in the foreseeable future.
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TRENDS INFLUENCING THE GROWTH OF MEDICAL NUTRITION MARKET
The medical nutrition industry is heavily impacted by the convergence of pediatric nutrition and its use in cancer care. Pediatric nutrition plays a critical role in the growth and development of newborns, children, and adolescents by addressing their specific nutritional needs. Because cancer affects appetite, metabolism, and vitamin absorption, along with the adverse effects of therapies like chemotherapy and radiation therapy, pediatric cancer patients frequently have nutritional issues throughout treatment. Because of this, there is an increasing need for specific medical nutrition products that are made to meet the dietary requirements of children with cancer. These supplements are designed to help retain muscle mass, boost immunity, promote healthy growth, and lessen the negative effects of therapy, such nausea, vomiting, and malnourishment.
Globally, the incidence of chronic conditions including diabetes, heart disease, and cancer is rising, which is propelling the medical nutrition market's expansion. Medical nutrition, which offers customized dietary treatments based on patients' medical and nutritional needs, is essential in the management of various disorders. The growing number of people living sedentary lives and aging populations are contributing to the burden of chronic illnesses, which is predicted to fuel demand for medical nutrition goods and services.
One of the main factors behind the medical nutrition market's growth is the aging population. Due to age-related changes in metabolism, digestion, and nutrient absorption, as well as the existence of chronic illnesses and medication use, elderly people frequently have special nutritional demands. As the world's population ages, medical nutrition solutions designed especially for the elderly—such as meal replacements and oral nutritional supplements—address these nutritional issues and promote healthy aging, fueling market expansion. The market for medical nutrition goods and services is being driven by rising knowledge of preventive healthcare and the role that nutrition plays in preventing disease.
The market is growing as a result of the growing uses of medical nutrition in clinical nutrition treatment, especially in healthcare settings such as clinics, hospitals, and long-term care facilities. In order to manage malnutrition, promote wound healing, and maximize nutritional status in patients with both acute and chronic disorders, medical nutrition is essential. Healthcare practitioners are adding medical nutrition therapy into their treatment regimens as a result of the growing acknowledgment of nutrition as a crucial component of healthcare. This is driving demand for specialist goods and services in the medical nutrition market.
The medical nutrition industry is expanding and innovating due to the trend toward tailored nutrition solutions. Developments in digital health technology, microbiome research, and genetics have made it possible to create customized dietary programs based on each person's distinct genetic composition, state of health, and lifestyle choices. As consumers increasingly seek personalized approaches to nutrition and wellness, medical nutrition companies are capitalizing on these advancements to offer tailored dietary supplements, functional foods, and digital health platforms that optimize nutritional intake and support individual health goals. This is driving market expansion.
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MEDICAL NUTRITION MARKET SHARE ANALYSIS
With a roughly 34% market share in 2019, North America is the primary market. Asia and Europe are lagging behind.
Among the leading businesses are Baxter, B. Braun, Grifols, Ajinomoto, Infaprim, Fresenius Kabi, Mead Johnson, Abbott Nutrition, Glanbia Performance Nutrition, and Groupe Danone. In 2019, over 40% of Russian adults were undernourished. Adult nutrition is around 41% for CIS.
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Key Companies:
- Mead Johnson
- Fresenius Kabi
- Groupe Danone
- Company
- CIS
- Abbott Nutrition
- Nestlé
- Glanbia Performance Nutrition
- Baxter
- B. Braun
- Grifols S A
- Ajinomoto
- Infaprim
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