The global medical nutrition market assists in meeting the nutritional requirements of individuals who cannot consume normal food or absorb sufficient nutrients from their diets due to certain medical conditions, disease states, or disorders. Medical nutrition products encompass all nutrition solutions, including dietary supplements and enteral formulas designed to deliver total or partial nutrition for patients who are unable to obtain sufficient intake through their natural oral food and beverage consumption. This involves oral nutritional supplements as well as enteral formulas for tube feeding. The global medical nutrition market offers products for chronic kidney disease, diabetic care, liver disease, weight management, oncology care, hepatic diseases, gastrointestinal diseases, and more. Demand for personalized and condition-specific medical nutrition formulas is on the rise due to the increasing prevalence of chronic and lifestyle diseases.
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 Dynamics:
Rising Prevalence of Chronic Diseases: Chronic diseases such as diabetes, cancer, gastrointestinal disorders, kidney diseases, and others are major drivers of the global medical nutrition market. These conditions often require medical nutrition management due to deficits or malabsorption issues during treatment. As per the National Center for Chronic Disease Prevention and Health Promotion, chronic diseases are the leading causes of death and disability in the US. The economic cost of chronic diseases amounts to over $3.7 trillion annually or over $30,000 per person diagnosed with a chronic medical condition in the US. Factors such as the rapidly aging population, genetic predisposition, environmental factors, and increasingly sedentary lifestyles are contributing to a rising chronic disease burden worldwide. This growth in prevalence of chronic medical ailments directly increases demand for specialized medical nutrition formulas designed for their management.
Segment Analysis
The medical nutrition market is segmented into pediatric nutrition, parenteral nutrition, elder nutrition, and sport nutrition. The pediatric nutrition segment dominates the market with over 35% share owing to increasing incidence of chronic diseases among infants and children, growing awareness among parents about nutritious diet, and technological advancements in pediatric nutrition formulations.
PEST Analysis
Political: The governments across major countries are promoting research on disease-specific medical nutrition and formulating regulations to ensure product quality and safety. Economic: The aging population and rising income levels have stimulated the demand for nutritional and dietary products. Social: Growing health consciousness and adoption of preventive healthcare are driving consumers toward medical nutrition products. Technological: Advancements in formulation techniques have expanded the product variety in terms of formulation formats, tastes, and delivery mechanisms.
Key Takeaways
The Global Medical Nutrition Market Growth is expected to witness high over the forecast period owing to the aging population, increasing prevalence of chronic diseases, rising health expenditure, and growing demand for nutritional products.
Regionally, North America commands the major share in the global medical nutrition market due to supportive reimbursement policies, strong demand for disease-specific formulations, and presence of key market players.
Key players operating in the medical nutrition market are Nestle Health Science, Abbott Nutrition, Danone, Mead Johnson Nutrition, and Fresenius Kabi.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
