Medical nutrition can be defined as a therapeutic configuration to balance the regular need for various nutrients, which normal food habits fail to provide. This is required in cases like chronic obstructive pulmonary disease (COPD), cancer, diabetes, immune system disorders, gastrointestinal disorders, and others. Several factors are expected to impact the market, Market Research Future (MRFR) suggests. These factors are changes in lifestyle, transforming dietary habits, growth in smoking and alcohol consumption, increasing fast-food intake, and others. The global market for medical nutrition can surpass the market valuation of USD 52,395.3 million by 2023 from a CAGR of 5.0% over the forecast period from 2018 to 2023. Other factors like geriatric population and rising concerns for children can impact the market as well.
The global medical nutrition market requires an in-depth study that would provide necessary details regarding the market. This segmentation includes the route of administration, type, application, product type, and distribution channel. Insights and factorial details can be uncovered from these segments upon a minutely focused analysis.
By type, the market for medical nutrition includes elderly parenteral nutrition, nutrition, pediatric nutrition, and sports nutrition. The pediatric nutrition segment covered 30.2% of the global market share in the year 2017.
By product type, the medical nutrition market includes multiple trace elements, vitamins, amino acid solutions, lipid emulsions, antioxidants, and chamber bags. The amino acid solution was in charge in 2017. Lipid emulsions have a better chance to grow with the highest CAGR over the review period.
By route of administration, the medical nutrition market comprises parenteral, oral, and others.
By application, the medical nutrition market includes renal failure, pulmonary diseases, cancer, diabetes, gastrointestinal diseases, pediatric malnutrition, obesity, and neurological diseases.
By distribution channel, the medical nutrition market comprises retail pharmacy, compounding pharmacy, hospitals, and E-commerce websites.
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The geographical analysis of the global medical nutrition market in the report focuses on the Americas, Asia Pacific, and Europe substantial market contributors, whereas the Middle East and Africa (MEA) can expect a slow down due to poor economic growth in the African region.
The Americas include North America and South America. North America has better market grasp owing to its superlative technology, growing awareness, better pharmaceutical integrations, detailed government plans, and others. The US and Canada are expected to impact the market substantially in the coming days. Changes in lifestyle and dietary habits are expected to make a dent in personal health, which can be managed by medical nutrition. The high geriatric population can also trigger a hike in the intake of such products.
The APAC market is expecting hike in the sector due to growing attention from various companies who are trying to tap the market to maximize their profit. The main reason for driving this cause is the vast population that can be explored well for better analysis. India, Indonesia, China, Japan, and others are expected to impact the market substantially.
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The global market for medical nutrition gets impacted by several companies who are known for their extensive impact on the global market. Their strategic moves create substantial expansion possibilities in the market, which yields better results upon exploration in a proper way. MRFR listed a few companies in the group and charted their growth track to understand the better market movement. These companies are Sanofi, Nestle Health Science, Baxter Healthcare Corporation, Abbott Nutrition, Pfizer Inc., Mead Johnson Nutrition Company, B. Braun Melsungen AG, GlaxoSmithKline PLC (GSK), Danone Nutricia, Bayer AG, Grifols SA, Danisco (DuPont), and Fresenius Kabi AG.
In September 2019, Genomma Lab Nacional and UP International declared that they would collaborate in spreading awareness regarding child nutrition in Mexico. Genomma Lab would launch an extensive campaign focusing on Novamil and Novalac that would help them gain a significant foothold in Mexico. The product includes additional nutrients that a child require apart from breast milk as the company believes in breastfeeding as the primary source of nutrients for children.
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