Medical nutrition products contain nutrients which provide health benefits that assist or support the treatment of medical conditions including chronic and acute diseases as well as specific nutritional requirements of different age groups. These products help in preventing or managing diseases and supply balanced nutrition.
The global medical nutrition market is estimated to be valued at US$ 14.34 Bn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased focus on preventive healthcare is driving the demand for medical nutrition products. Preventive healthcare emphasizes proactive care including disease prevention and health promotion through nutritional guidance and consuming foods that provide nutrition. The onus is shifting from therapeutic to preventive healthcare to curb escalating healthcare costs associated with diseases. This is encouraging adoption of medical nutrition products to meet nutritional needs and stay healthy. personalized nutrition recommendations backed by genetic testing is gaining traction and boosts sales of condition-specific medical nutrition products.
Segment Analysis
The global medical nutrition market is dominated by the enteral nutrition and parenteral nutrition sub-segments. Enteral nutrition accounted for the largest share of the market in 2023 due to the increasing prevalence of chronic diseases that require tube feeding. The sub-segment is expected to continue dominating the market during the forecast period owing to the high preference of enteral tube feeding over parenteral feeding as it is a safer and more cost-effective mode of nutrition delivery compared to parenteral nutrition.
Key Takeaways
The Global Medical Nutrition Market Demand is expected to witness high growth during the forecast period of 2023-2030. The increasing incidence of chronic diseases such as cancer, diabetes, neurological disorders is driving the demand for medical nutrition products.
Regional analysis: North America dominated the global medical nutrition market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to the increasing healthcare spending and the rising prevalence of target diseases in the region. The Asia Pacific region is projected to witness the fastest growth during the forecast period owing to improving healthcare infrastructure and rising medical expenditures in emerging economies such as China and India.
Key players operating in the medical nutrition market are Abbott Nutrition, Nestle Healthcare Nutrition, Baxter International Inc., B. Braun Melsungen AG. These players are focusing on new product launches and expansion strategies to strengthen their market position. For instance, in 2022, Nestle Healthcare Nutrition launched a fibre-containing feed for tube-fed patients to provide the benefits of fibre to people who are unable to eat solid foods.
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