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Medical Nutrition Market Projected to Grow at a CAGR of 6.8% During the Forecast Period 2021-2026

(Entertainment-NewsWire.com, October 13, 2021 ) Medical nutrition Market size was estimated at $1.3 billion in 2020, projected to grow at a CAGR of 6.8% during the forecast period 2021-2026. Medical nutrition industry has witnessed huge demand owing to the patients changing lifestyles, along with the growth of uncommon illnesses such as dysphagia, renal disorders and others. Medical nutrition is a term used to describe therapeutic nutritional supplements that are recommended to meet a patient's unique nutritional needs such as oncology nutrition and parenteral nutrition. It caters to the nutritional needs of people suffering from chronic illnesses such as cancer, diabetes, gastrointestinal problems, malnutrition, and so on. Dietary changes, education and counselling, intravenous nutrition, tube feeding, and medical food are all part of medical nutrition. Dieticians or physicians typically utilize it as a pharmacological adjunct to traditional therapy. Medical specialists have carefully suggested this diet, and it is also taken under medical supervision. The world's aging population is nowadays seen as a major worldwide concern. Changes in lifestyle have resulted in accelerated population aging, increasing the prevalence of numerous illnesses. According to the World Population Report, the number of more established persons must increase from 841 million in 2013 to more than 2 billion in 2050. Furthermore, illnesses like anxiety parenteral, Parkinson's, diabetes, and organ system failure are increasingly common in the senior population. These individuals suffer from the negative consequences of restricting their food intake and require parenteral nutrition to maintain their nutritional dimensions. One of the leading causes of impairment is chronic obstructive pulmonary disease (COPD). COPD has long been considered one of the leading causes of mortality by the World Health Organization (WHO), and its prevalence is expected to rise. It is predicted that it was responsible for the deaths of 3 million individuals worldwide in 2015. Malnutrition is one of the most prevalent issues among COPD patients who require medicinal nutrition assistance to live. The worldwide medical nutrition industry is also likely to be driven by an increase in disease-related malnutrition. Developments in biotechnology have thrown the medical nutrition industry for a loop, with manufacturers increasingly focusing on the research and development of better and more personalised medical nutrition products. As a result, the creation of disease-specific specialist medical nutrition items, particularly in developed countries, is on the rise. Parenteral medical nutrition therapy is an essential therapeutic method for the treatment and management of a variety of chronic diseases. The basic reason for using parenteral nutrition is to ensure that patients receive adequate nourishment when oral or enteral feeding is insufficient to fulfil their nutritional needs. Owing the higher costs of parental nutrition, consumers are more likely to choose for oral and enteral nutrition intake, which is expected to stymie the segmentation of the parenteral medical nutrition market.

Medical nutrition Market Segment Analysis – By Indication:

Based on Product Type, Medical nutrition market is segmented into Diabetes, Oncology Nutrition, Hepatic Disorders, Dysphagia, IBD & GI, Neurological Disorders, General Well-being, Renal Disorders, Respiratory Disorders and others. Oncology nutrition segment is accounted for the largest revenue market share in 2020 owing to the rising number of cancer patients globally. According to the World Health Organization (WHO), the global incidence of cancer grew yearly in 2017, with an estimated 14.1 million new cases and 8.2 million people dying from cancer-related causes. Neurological disorders Segment is predicted to grow with the fastest CAGR of 7.3% in the forecast period 2021-2026 owing to cerebrovascular disease, dementia, dysphagia and strokes are so common in neurological disorders, medical nutrition is heavily consumed by patients suffering from these conditions.

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Medical nutrition Market Segment Analysis – By End User:

Based on End User, Medical nutrition market is segmented into Pediatric Nutrition, Parenteral Nutrition, Elderly Nutrition and Sports Nutrition. Pediatric Nutrition, is accounted for the largest revenue market share in 2020 as medical nutrition intake is highest among newborns under the age of one year in the pediatric population. The usual length of hospital stay for pediatric patients is shorter than for adult and geriatric patients, which explains why adult and geriatric end-climes have larger market shares. The market for pediatric nutrition is driven by an increase in the frequency of preterm deliveries and malnourished newborns. Increased awareness camps and programs held by domestic governments and other organizations, as well as the regular release of new newborn nutritional products to the market, would help the category develop. Milk-based baby feeding formulas are the most popular since their nutritional composition is similar to that of breast milk. Parenteral Nutrition anticipated to grow with the fastest CAGR of 7.0% in the forecast period 2021-2026. This is majorly attributed to the rising prevalence of enfeebling illnesses and the expanding elderly population, the parenteral nutrition market will develop. The growing number of patients with cancer, ischemic bowel disease, Crohn’s disease, and short bowel syndrome who require external nutrition and trace elements will boost segment growth. Furthermore, favorable reimbursement regulations and the expansion of home healthcare will help the company develop.

Medical nutrition Market Segment Analysis – By Geography

Based on Geography, North America Medical Nutrition Market accounted for the 40% revenue share in 2020. This is majorly attributed to the presence of key market players and also by the widespread adoption of sedentary lifestyles and poor eating habits, a large number of individuals are suffering from chronic diseases such as obesity and diabetes. Over the projection period, the U.S. market would be driven by the growth of the home healthcare segment as well as increased awareness of clinical nutrition formulas. Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026 owing to a high senior population and rising rates of chronic diseases such as diabetes and cancer as a result of dietary changes. The presence of organizations like the Japan Society of Nutrition and Food Science (JSNFS) that seek to promote public health and raise understanding of clinical nutrition would aid market growth.

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Medical nutrition Market Drivers

Rising Awareness of Medical Nutrition:

The need for paediatric and adult nutrition formulas has increased as people become more aware of medical nutrition. Industry participants are concentrating their efforts on producing nutritional solutions that can meet the nutritional needs of people of all ages, from children to adults. Nestle Health Science, for example, introduced Compleat, a tube feeding formula for adults and children, in January 2017. Growing geriatric population, rising prevalence of chronic diseases, and widespread adoption of unhealthy diets have resulted in an increase in the number of people suffering from incapacitating conditions, necessitating nutritional supply via various routes such as parenteral and enteral nutrition delivery. Furthermore, the growing number of births, particularly preterm births, will fuel the clinical nutrition industry’s expansion. Moreover, demand for healthy and wellness foods is on the rise. In addition, factors such as rising chronic disease incidence, growth in population purchasing power, increasing demand for food products, availability of a wide range of product offerings with new taste and flavors, changing lifestyles, and upsurge in healthcare awareness are expected to propel the global medical nutrition market forward.

Medical nutrition Market Challenges

Emergence of COVID-19 Pandemic:

The COVID-19 pandemic is having a significant impact on clinical studies. On April 23, 2020, according to a survey conducted by Medidata Solutions, Inc. (an American technology company that develops and markets software as a service for clinical trials), 63% of survey respondents reported that they had stopped recruiting new patients for ongoing clinical trials, and 43% of respondents had postponed their studies. Patients’ consent is obtained over the phone or via video conferencing by healthcare practitioners. According to a poll done on April 23, 2020 by Medidata Solutions, Inc., 45 percent of respondents chose virtual/telemedicine for consulting. Moreover, high costs, on the other hand, is expected to limit the global medical nutrition market’s growth in the upcoming years.

Medical nutrition Market Segment Landscape:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Medical nutrition Market. Medical nutrition Market top 10 companies are Nestle Health Science, Abbott, Mead Johnson & Company, LLC., DuPont de Nemours, Inc., Danone India., Baxter, GlaxoSmithKline plc., B. Braun Melsungen AG, Bayer AG.

Acquisitions/Product Launches:

DSM and Wellmetrix, a personal health testing company, announced a research partnership in October 2019 to investigate the use of Wellmetrix’s diagnostic platform to perform non-invasive and point-of-need measurements of key health biomarkers as part of a nutrition intervention using DSM’s nutritional solutions.

In July 2019. Finomel, a ready-to-use triple-chamber bag for parenteral nutrition (PN), was released in Europe by Baxter International Inc. Finomel has increased its line of premixed PN formulations, giving healthcare practitioners more alternatives for meeting the nutritional needs of adult patients. Grifols, S.A.

Key Takeaways

According to the WHO, Cancer is the leading cause of death globally, in 2020 it is reported that nearly 10 million deaths were caused by cancer.

Increase in prevalence of various cancer, increasing aging population and growing medical tourism in various developing countries are the other factors boosting the market growth and provide lucrative growth opportunities for the global market expansion.

The desire for higher-quality therapies and healthcare facilities in developed countries is also expected to drive the medical nutrition industry forward.

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