Medical Nutrition Market Is Anticipated To Expand At 9.2 % CAGR During The Forecast Period (2017-2023) Owing To The Increasing Prevalence Of Chronic Diseases, Asserts Market Research Future (MRFR).
Medical nutrition is a therapeutic composition which is developed to fulfill the nutritional requirements in patients suffering from chronic diseases like diabetes, cancer, gastrointestinal disorders, chronic obstructive pulmonary disease, immune system disorder, and others. The nutrition is strictly prescribed by medical professionals and is consumed under medical supervision.
The major players operating the global market are Mead Johnson & Company LLC. (US), Baxter International (US), Nestlé Health Science (Switzerland), NeoMed (US), Danone (France), Nutricia Advanced Medical Nutrition (Netherland), Primus Pharmaceuticals (US) Inc., Solace Nutrition (UK), Abbott Nutrition (US), AYMES Nutrition International Ltd. (UK), B. Braun Melsungen AG (Germany), and others
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The global medical nutrition market has been segmented on the basis of type, application, and region.
By mode of type, the global medical nutrition market has been segmented into parenteral nutrition, pediatric nutrition, elderly nutrition, sports nutrition, and others. Among these, the parenteral nutrition segment is presumed to dominate the global medical nutrition market.
By mode of application, the global medical nutrition market has been segmented into sarcopenia, pediatric malnutrition, diabetes, renal failure, obesity, cancer, and others.
Drivers and Constraints Impacting the Market
With the rising incidences of chronic diseases such as cancer, diabetes, immune system disorder, and more, which requires additional nutrients, the global market for medical nutrition is likely to propel. Also, growing awareness among the people associated with the benefits of medicated beverages and food items are contributing to the market growth. Moreover, changing lifestyle such as over-consumption of alcohol, habitual smoking, relying on fast-food, and extended work hours has resulted in the lack of adequate nutrients. The demand for better quality healthcare facilities and therapy in developed countries are also likely to boost the market growth. Medical nutrition products comprise probiotics and prebiotics that focuses on the aging population. Such factors are likely to unlock the door of opportunities for the market globally.
On the flip side, the high price associated with medical nutrition products and critical reimbursement policies enforced by the government of several countries are anticipated to retard the market growth in the coming years.
Geographically, the medical nutrition market span across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is estimated to dominate the global medical nutrition market during the assessment period and is presumed to gain significant market share in terms of revenue. The growth is attributed to the vast population pool suffering from chronic diseases and the presence of a large number of health-conscious people in this region.
The Asia Pacific region is considered to be the most rapidly rising region owing to the high development in the healthcare sector and increasing population-level suffering from chronic diseases such as diabetes and cancer.
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