The medical nutrition market has grown tremendously over the last few decades. With rising chronic disease burden and awareness about the role of nutrition in disease management and prevention, the demand for specialized nutritional products is at an all-time high. Medical nutrition products cater to the unique nutritional needs of patients with various health conditions like diabetes, cancer, gastrointestinal disorders, metabolic disorders and more. These products come in forms like nutritional shakes, drinks, oral nutritional supplements and are formulated with specific nutrient proportions tailored to the patient’s health needs.
The Global Medical Nutrition Market is estimated to be valued at US$ 13.91 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period between 2024 to 2030
Key Takeaways
Key players operating in the medical nutrition market are Aprea Therapeutics, Novartis AG, Rocket Pharmaceuticals, Inc., GeneDx, BioMarin Pharmaceutical Inc., AbbVie Inc., Bristol Myers Squibb, Pfizer Inc., Vertex Pharmaceuticals Incorporated, CRISPR Therapeutics, Editas Medicine, Fate Therapeutics, Inc., Regenxbio Inc., Orchard Therapeutics, uniQure N.V. The market leaders are focusing on new product launches, acquisitions and partnerships to cater to the rising demand.
The growing prevalence of chronic diseases worldwide is a major factor fueling the demand for specialized medical nutrition products. Nutrition-based therapies are gaining recognition in disease management, therefore supplement intake is increasing.
The Medical Nutrition Market Growth is also witnessing expansion in emerging economies due to improved access and rising healthcare expenditure in these countries. Leading brands are focusing on geographical expansion and entering into collaborations with local players to strengthen their footprint in high growth markets.
Market Key Trends
Personalization is a key trend shaping the future of the medical nutrition industry. As understanding of diseases improves at molecular and genetic levels, nutrition recommendations are becoming more personalized. Companies are investing in R&D to develop tailored supplements with specific formulations for different patient cohorts based on their genetic makeup, disease severity, lifestyle and more. This personalized approach promises better outcomes and drives higher customer loyalty and treatment adherence.
Porter’s Analysis
Threat of new entrants: The Medical Nutrition Market Challenges And Opportunities has moderate threat of new entrants due to high costs associated with research, development, production and marketing.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes in the market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to presence of many suppliers in the market.
Threat of new substitutes: Threat of new substitutes is low as it requires substantial investment and time for developing new substitutes.
Competitive rivalry: The competitive rivalry is high among existing players to gain market share.
Geographical Regions
North America accounts for the largest share of the global medical nutrition market owing to increasing prevalence of chronic diseases, growing geriatric population, and presence of developed healthcare infrastructure in the region.
Asia Pacific is expected to witness the fastest growth over the forecast period due to increasing healthcare expenditure, rising awareness about disease management, and growing population in countries such as China and India.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile