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Global Medical Nutrition Market size is estimated to reach $76.30 Billion by 2025 and is poised to grow at a CAGR of 7.63% during the forecast period 2020-2025. The term medicinal nutrition refers to a group of medicinal food products used under the supervision of health practitioners to manage the nutrition of a condition or disease. Medicinal Nutrition products address distinct nutritional requirements and provide adequate amounts of nutrients for a specific group of patients. The market for Global Medical Nutrition is set to grow mainly owing to the increased demand for Healthy foods. In addition, the increasing incidence of chronic diseases, the increasing purchasing power of the population, availability of the wide range of nutritional products offering new flavors, lifestyle changes and increased awareness regarding healthcare among consumers are the estimated factors to drive the growth of the global medical nutrition market over the forecast years 2020-2025.
Global Medical Nutrition Market Segment Analysis – By Route of Administration
The global Medical Nutrition Market based on Mode of Route of Administration can be further segmented into Enteral, Oral, and Parenteral. Oral segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the ease of administration and wide availability of products in the oral route of administration. In addition, the rising number of young population, as well as growing demand for varied oral nutritional products among the consumers, are the major key factors that are anticipated to drive the growth of the segment during the forecast period 2020-2025.
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Global Medical Nutrition Market Segment Analysis – By End User
The global Medical Nutrition Market based on Mode of End User, can be further segmented into Adult, Geriatric, and Pediatric. Pediatric segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the increasing number of premature births in emerging countries such as China and India has increased the demand for medicinal nutrition in Pediatric segment. In addition, the consumption of medical nutrition is high among the pediatric population, which is projected to fuel the growth of the pediatric segment in Medical Nutrition Market over the forecast years 2020-2025.
Global Medical Nutrition Market Segment Analysis – By Geography
The global Medical Nutrition Market based on Geography, can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. North America registered for the highest revenue in 2019 and is set to grow at highest CAGR over the forecast period 2020-2025 owing to the increasing number of chronic illness and a relatively larger population of health-conscious people in the region. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2020-2025 owing to the increased health awareness among consumers resulting in the consumption of nutritional products in the region, which increases the demand for Medical Nutrition Market.
Global Medical Nutrition Market Drivers
Rise in Demand
The global Medical Nutrition Market is driven by the rising awareness of healthy lifestyle along with the increasing disposable income among the consumers around the globe. The increasing health issues such as diabetes, neurological disorders, and other chronic diseases among the consumers are encouraging them to shift towards healthy diet patterns, which in turn, boost the demand for medical nutrition market. Moreover, Government initiatives, investments, and funding for medical nutritional research is projected to fuel the growth of the Global Medical Nutrition Market over the forecast years 2020-2025.
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Global Medical Nutrition Market Challenges
High incidence of side effects
Lack of awareness regarding health care, diet and proper nutritional balance in low, and middle-income economies is one of the restraint factors in the Global Medical Nutrition Market. Rural areas in low- and middle-income economies such as Africa and Asia-Pacific have very low awareness of nutritional products and diseases associated with undernutrition, which is estimated to be a major cause of slowing down the adoption of nutritional food production in these regions, thus impedes the market growth. However, the high cost and the side effects caused by the medical nutritional products are acting as a challenge for the market during the forecast period 2020-2025.
Global Medical Nutrition Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Medical Nutrition Market. Key companies of this market Abbott, Baxter, Danone S.A., DSM, GlaxoSmithKline Plc, Fresenius Kabi AG, Sun Pharmaceuticals Inc., Pfizer, and Sanofi.
In September 2020, Sanofi announced that it has acquired Principia Biopharma Inc for $100 per share in cash. This acquisition further strengthened to develop Sanofi’s core areas of autoimmune and allergic diseases.
In October 2019, Akcea Therapeutics, Inc and Pfizer Inc, announced that the companies have entered into a licensing agreement for AKCEA-ANGPTL3-LRx, an investigational antisense therapy, which is developed to treat patients with certain cardiovascular and metabolic diseases.
Geographically, the North America is poised to see extraordinary development owing to the increasing number of chronic illness and a relatively larger population of health-conscious people in the region and is set to continue during forecast period 2020-2025.
The global demand for the Global Medical Nutrition Market is owing to the rising incidences of illness across the globe among the consumers around the globe.
The high cost of nutritional products and side effects of medical nutrition are estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Global Medical Nutrition Market report.
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