The Global Medical Nutrition Market is expected to reach to the market value of USD 52,395.3 million by 2023 from USD 41, 014.8 million in 2017, and is expected to grow at CAGR of 5.0% during the forecast period from 2018 to 2023.
The increase in awareness about the importance to adopt a healthy diet over cling on to synthetic medications is observed to surge the medical nutrition market, aiding it sets pace to touch a lucrative valuation during the forecast period.
The growing number of patients suffering from chronic diseases is urging the need for an effective treatment that does not cause side-effects of medications, is expected to spur the global medical nutrition market growth. Medical nutrition therapy focuses on enhancing the nutrition intake of patients thereby, eliminating the possibilities of adverse effects which can occur due to prolonged medications. The American Dietetic Association reported that medical nutrition therapy can improve health condition besides, preventing complications through dietary modifications.
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As a result of sedentary lifestyle, an increase in the number of obese adults have been observed. Obesity is a major cause for diseases like type 2 diabetes, persistence of allergies, and heart disorders. The increase in awareness about medical nutrition therapy to be the best treatment for obesity is anticipated to bolster its market growth.
Market Key Players
MRFR enlisted prominent companies operating in the medicine nutrition market are –
- Grifols SA
- Fresenius Kabi AG
- Abbott Nutrition
- Baxter Healthcare Corporation
- Pfizer Inc.
- GlaxoSmithKline PLC
- Nestlé Health Science
- Bayer AG
- Mead Johnson Nutrition Company
- Braun Melsungen AG
- Danone Nutricia.
The non-invasiveness nature of medical therapy seems promising for treating malaises like cancer and HIV. Additionally, the availability of proficient dieticians is subsequently rising the adoption rate of medical nutrition therapy among the growing patient pool afflicted cancer and HIV. Hence, likely to amplify the market expansion.
The global medical nutrition market study has been segmented on the basis of product type, application, distribution channel, type, and route of administration.
Based on the product type, the medical nutrition market has been multiple vitamins and antioxidants, lipid emulsions, trace elements, amino acid solutions, and chamber bags.
Based on the application, the medical nutrition market has been segmented into gastrointestinal diseases, parenteral malnutrition, pulmonary diseases, neurological diseases, diabetes, cancer, and renal failure.
Based on the distribution channel, the medical nutrition market has been segmented into compounding e-commerce websites, pharmacies, hospitals, and retail pharmacies.
Based on the type, the medical nutrition market has been segmented into pediatric nutrition, sports nutrition, parenteral nutrition, and elderly nutrition.
Based on the route of administration, the medical nutrition market has been segmented into parenteral and oral.
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Based on the region, the medical nutrition market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The medical nutrition market in North American is likely to maintain its dominance in the global market over the assessment period. The growing number of people suffering from chronic disorders like gastrointestinal conditions, diabetes, and others due to sedentary lifestyle is a major factor that is expected to augment the regional market. The firm medical infrastructure backed by continuous technical upgradations in the North American region is another factor that is anticipated to contribute to the medical nutrition market growth.
Followed by the lead, Asia Pacific is expected to hold a large market share during the review period. The growing incidences of diabetes in countries like China, India, and Japan, in Asia Pacific, is expected to contribute to the medical nutrition market growth, significantly. The presence of influential companies in Asia Pacific is also likely to bolster the medicine nutrition market growth.
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- Medical nutrition manufacturers and distributors
- Pharmaceutical manufacturers
- Government research organizations
- Hospitals and clinics
- Regulatory agencies
- Pharmaceutical companies
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