Medical nutrition products play a vital role in managing various chronic diseases and health conditions. They help address the specific nutritional needs of patients. This includes nutrition requirements for cancer, chronic kidney disease, gastrointestinal disorders, diabetes, and more. The growing prevalence of such chronic and lifestyle-related diseases has significantly boosted the demand for specialized nutritional support. According to World Health Organization (WHO), chronic diseases are estimated to account for over 70% of all deaths globally.
The global Medical Nutrition Market is estimated to be valued at US$ 16.52 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of chronic diseases is one of the key factors driving the growth of the medical nutrition market. Chronic conditions like diabetes, cancer, gastrointestinal disorders are on the rise owing to changing lifestyles and dietary patterns. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 643 million by 2030 and 783 million by 2045. Proper nutrition plays a critical role in managing these medical conditions. Thus, the increasing healthcare costs associated with chronic diseases have prompted consumers to opt for nutritional support through food and beverages. This has accelerated the demand for disease-specific medical nutrition products during the forecast period.
Segment Analysis
For the medical nutrition market, the dominant segment is pediatric nutrition, which accounts for over 35% of the market share. This segment dominates due to the high prevalence of pediatric malnutrition globally, especially in developing regions. Pediatric nutrition products aim to address the specific nutritional needs of infants and children through formulas enriched with proteins, vitamins, minerals and other important nutrients for growth and development.
Key Takeaways
The Global Medical Nutrition Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. Favorable governmental policies and programs aimed at addressing malnutrition, a rising focus on preventive healthcare and nutrition management and a growing prevalence of chronic diseases are key factors driving the market. Rising disposable incomes in developing regions are also expanding access to medical nutrition products. The global Medical Nutrition Market is estimated to be valued at US$ 16.52 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024-2031.
Regional analysis: North America currently dominates the global market, accounting for over 35% revenue share. This is due to the robust healthcare infrastructure and widespread adoption of enteral nutrition therapies in the region. However, Asia Pacific is expected to emerge as the fastest growing regional market. Rising medical tourism for nutritional therapies along with the large underserved population in countries like India, provide lucrative opportunities for players in the APAC medical nutrition market.
Key players: Key players operating in the medical nutrition market include Abbott Nutrition, Nestle Health Science, Danone, Mead Johnson Nutrition and Bayer. Abbott Nutrition holds the leading market share owing to its wide product portfolio and geographic footprint. Other major players like Nestle and Danone are focusing on product innovation and partnerships to strengthen their positions in high growth market segments like pediatric nutrition and disease-specific formulas.
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