ID: MRFR/Pharma/0822-CR | August 2019 | Region: Global | 168 pages
Owing to the growing problem of malnutrition, there is a need for a proper medical nutrition market to fulfill the daily nutrition requirements of a patient. At the time of diseases like diabetes, chronic obstructive pulmonary disease (COPD), cancer, immune system disorders, gastrointestinal disorders, and many others, medical nutrition is like a need of an hour. The growing awareness of medicated foods and beverages among the people and the increasing incidence of diseases has lead the growth of the medical nutrition market to great heights.
Owing to the growing awareness about health and fitness, the market of medical nutrition is expected to grow at the market value of USD 64288.7 with a CAGR of 5.40% estimated by 2027.
COVID 19 Analysis
The global pandemic of COVID 19 has made the life of people miserable. It has made the people forcibly lock themselves into their houses because of contamination of this fatal disease. But, owing to the increasing infection of this disease, awareness about the medical nutrition has increased and as a result, there is a tremendous increase in the growth of the medical nutrition market.
Also after the lockdown situation, many companies have come up with the concept of medical nutrition products to improve the mental and physical health that helps in preserving the proper nutrition value at the household, national and individual level. Also on the part of the government, there are many health-related initiatives taken.
The increase in consumption of fast-food and changing lifestyles like extended working hours, habitual smoking, increase in consumption of alcohol resulted in a deficiency of essential nutrients that is the main reason behind the tremendous growth of the medical nutrition industry. Also because of the poor digestive framework in old-age people, has lead to the growth of the medical nutrition industry. The growing population in countries like India and China is expected to boost the demand for the medical nutrition market.
As more and more awareness is spreading among people about the importance of nutrients and how they can get adequate nutrition value, the medical nutrition value is growing and is expected to grow even further in the future. Increasing awareness about infant nutrition value also acts as a contributing factor in making opportunities for the growth of the market. Also the increasing problem of the gastric problem and diabetes problem the medical nutrition market is expected to grow in the future.
The factor which is restraining the growth of the market is the poor reimbursement policy enforced by the government of various countries. Along with this, the price factor also plays an important role, as it is not afforded by everyone. Not only these, but strict guidelines from the government regarding the supplements and lack of knowledge hinders the growth of the medical nutrition market in the global market.
Value Chain Analysis
Because of an increase in the birth rate, there are more chances of premature birth across the globe. Premature birth suffers a lot of health-related consequences in the long term like cerebral palsy, sensory deficit, respiratory illness, and learning disabilities when compared with full-time birth. And the chances of early death are also there in the case of premature births. Due to this reason, the government of various countries is taking serious initiatives in expanding the growth of the medical nutrition market so that as many lives can be saved. Also with the growing chronic diseases, medical nutrition is required by all disregarding the age group. One should take adequate nutrition value for their well-being.
The global market is divided based on type, product type, application, route of administration, and distribution channel.
Based on the type
The is categorized based on the type into pediatric nutrition, elderly nutrition, parenteral nutrition, and sports nutrition. Out of all these, pediatric nutrition holds the highest market share of about 30.2% owing to the increase in premature births in nations like India, China has raised the demand.
Based on the product type
The market is divided based on the product type into amino acid solutions, multiple vitamins, antioxidants, lipid emulsions, trace elements, and chamber begs. Out of all these, the highest market share is held by amino acid solutions. During the forecast period, it is expected to see a high CAGR in lipid emulsions.
Based on the route of the administration
The market is divided based on the route of the administration into oral, parenteral, and many others.
Based on the application
The market is divided based on the application into pulmonary diseases, cancer, gastrointestinal diseases, obesity, diabetes, pediatric malnutrition, renal failure, and neurological diseases.
Based on the distribution channel
The market is divided based on distribution channels into compounding pharmacies, retail pharmacies, hospitals, and E-commerce websites.
The medical nutrition market is divided based on the region in the global market into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The largest share in the global market is held by America. In North America, the U.S. holds the largest market. Increasing disorders and diseases like geriatrics in the population have increased the growth of the medical nutrition market in this region.
The second-largest share in the global medical nutrition market is held by the Europe region. The expected fastest-growing region during the forecast period is Asia-Pacific which is expected to grow at a CAGR of 4.5%.
The major key players of medical nutrition in the global market are as follows:
Innovation, acquisition, product development, and expansion are some of the major contributing strategies followed by these giant players operating in the global medical nutrition market.
The medical nutrition market research report covers the following aspects:
This report contains all the vital information regarding the medical nutrition market, its drivers and opportunities along with the functions of the market in the past. What are the challenges faced market during the pandemic situation and its estimated growth rate is also mentioned in this report?
Artificial Intelligence (AI) powered algorithms, continuous monitoring of intra-abdominal pressure, nutrition audit, big data analytics on proteomics and metabolism, and many others.
Medical nutrition manufacturers and distributors, pharmaceutical manufacturers, government research organizations, hospitals and clinics, regulatory agencies, pharmaceutical companies, and many others.
Frequently Asked Questions (FAQ) :
Medical nutrition market projected to grow at approximately 5.0% CAGR during the assessment period (2018-2023).
The valuation of the global medical nutrition market is estimated to increase to USD 52,395.3 MN by the end of 2023.
Rising prevalence of chronic diseases and awareness about the benefits among general population, are major tailwinds pushing the growth of the global medical nutrition market.
North America holds the largest share in the global medical nutrition market, followed by Europe and the Asia Pacific, respectively.
NeoMed (US), Primus Pharmaceuticals (US), Inc., AYMES Nutrition International Ltd. (UK), Abbott Nutrition (US), Nutricia Advanced Medical Nutrition (Netherland), Danone (France), Baxter International (US), Mead Johnson & Company, LLC. (US), B. Braun Melsungen AG (Germany), Solace Nutrition (UK), and Nestlé Health Science (Switzerland), are some of the top players operating in the global medical nutrition market.
Global Medical Nutrition – Summary
Medical nutrition is a revolutionary step in the healthcare sector to comply with the nutritional requirements of patients. It has become even more popular with the growing prevalence of diseases such as cancer, diabetes, gastrointestinal disorders, immune system disorders, and others. Transforming lifestyle hurts general intake pattern where over-reliance on fast food and addiction to narcotics and alcohol have caused a dip in nutrition amount. This has considerably boosted the medical nutrition market demand. The global medical nutrition market can expect a steady 5.40% CAGR during the forecast period (2019-2027). Market Research Future’s (MRFR) report suggests a leap from the present valuation of USD 41,014.8 million to USD 52,395.3 million which is expected to be driven by factors such as high birth rate and increasing cases of premature birth, lifestyle-related diseases, malnutrition, and growing geriatric population.
Technological advancement in the healthcare sector has taken down the threat of mortality by a considerable margin. People are now living longer than most from the past centuries. This has given rise to the geriatric population. Furthermore, increasing birth rate and cases of successful delivery of premature babies are also substantially growing which is giving the medical nutrition market much-needed thrust.
Transforming lifestyle has resulted in an increasing number of chronic diseases such as cancer and diabetes. Obesity is setting a perennially daunting task for medical practitioners to counter diseases as it also provokes other ailments to spread their web. Medical nutrition products are considered to be the best supplement for such diseases. Malnutrition across the globe is also creating much upsurge in the medical nutrition market. The growing number of patients receiving medical attention due to lack of nutrition can be adjudged from the reports of Europe where in 2015, 35% of the hospitalized patients got treated for malnutrition.
However, stringent government policies regarding such products can be considered a market dampener. Reimbursement policies in various countries are also not very supportive. Furthermore, a lack of awareness can be considered another potential market irritant.
Nutritional products are getting traction from the infant category where parents are ready to shell out more money to keep their children better. Countries with high birth rate are expected to extend the limit of the medical nutrition market. Home care treatment is also getting momentum owing to a deliberate attempt to prevent money from fizzling out in costly hospital treatments. This could ensure further market growth for medical nutrition.
By type, the medical nutrition market can be segmented into pediatric nutrition, parenteral nutrition, elderly nutrition, and sport nutrition. Pediatric nutrition holds the largest market share of USD 7,902.55 million which by 2023 would reach USD 9,121.97 million, whereas, sport nutrition is expected to show the fastest growth rate during the same time by reaching a valuation of USD 5,969.16 million with a 5.4% CAGR during the forecast period.
Based on product type, the market can be segmented into amino acid solution, multiple vitamins & antioxidants, lipid emulsion, trace elements, chamber bags, and others. Amino acid solution has the largest market valuation of USD 12,307.25 million which could reach USD 14,146.84 million during the forecast period. However, chamber bags segment can register the fastest market growth with 5.39% CAGR, and its anticipated market value would be USD 2,852.42 million by 2023.
Based on route of administration, the market comprises parenteral, oral, and others. Parenteral has the maximum market share of USD 20,003.02 million which could go up to USD 23,693.66 million by 2023. However, oral segment is going to enjoy the maximum CAGR of 4.47% among the peers during the forecast period.
By application, the medical nutrition market can be segmented into pediatric malnutrition, gastrointestinal diseases, renal failure, cancer, pulmonary diseases, diabetes, neurological diseases, and others. Pediatric malnutrition can be expected to touch the maximum valuation of USD 14,675.13 million by 2023. However, in this neck-to-neck segmental competition diabetes can anticipate the fastest CAGR of 4.44% during the forecast period.
Based on distribution channel, the medical nutrition market can be segmented into hospitals, compounding pharmacy, retail pharmacy, and e-commerce websites. Hospitals to gain maximum during the forecast period as its market valuation would leap from USD 10,439.54 million to USD 12,262.16 million. However, retail pharmacies can expect the highest CAGR of 5.19% during the forecast period.
Geographic analysis of the medical nutrition market spans across namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is the largest market in medical nutrition sector with a valuation of USD 15,207.6 million in 2018 which is anticipating growth to USD 17,765.1 million during the forecast period. Superior infrastructure, increasing healthcare spending, and increasing people awareness are giving the market the much-necessary push.
Europe’s market is marginally behind which can grow from USD 13,008.4 million valuation of 2018 to USD 16,036.4 million with a CAGR of 4.3% during the forecast period. The region is spending vast amount of money on research and development which can further the benefits for regional markets.
The APAC region can expect the fastest growth with a CAGR of 4.5% during the forecast period, and its market valuation could touch USD 12,092.7 million mark. The region is experiencing a booming healthcare sector as many countries are revamping their healthcare structure and governments are also taking initiatives in spreading awareness.
The MEA would have the least share of the revenue generated, and its market valuation can reach USD 6,501 million, but the growth rate would be better than the Americas. It can expect a CAGR of 4.1% during the review period.
The intense market competition has its share of strategical implementations which includes merger, acquisition, collaboration, and other methods. Apt tactical ventures often help the companies to stay afloat. Acquisitions play a huge role in it, and it commands almost 36.4% of the market share. Abbot is leading the market with 29.3% of the market, whereas Nestle has 17.5% of the market share. Nestle’s acquisition of Atrium Innovations can be considered a decisive strategic move to stay ahead in the market. Sanofi, on the other hand, acquired Protein Sciences as it would help them better their manufacturing technologies.
Prominent players in medical nutrition market are Baxter Healthcare Corporation (U.S.), Bayer AG (Germany), Grifols S.A. (Spain), Abbott Nutrition (U.S.), Danone Nutricia (France), Nestle Health Science (Switzerland), Danisco (Denmark), Sanofi (France), Pfizer Inc. (U.S.), B. Braun Melsungen AG (Germany), GlaxoSmithKline Plc (U.K.), Mead Johnson Nutrition Company (U.S.), Fresenius Kabi AG (Germany), and others.
Global Medical Nutrition Market: Competitive Landscape
Abbott Nutrition, Mead Johnson Nutrition Co., Nestle, Danone Nutricia, NeoMed, B. Braun Melsungen AG, Nutricia, and Baxter International, Inc. collectively accounted for more than 47% of the market share of the global medical nutrition market in 2017. These companies continue to retain their strong global presence through expansion, merger & acquisition, and extensive product portfolio.
The global medical nutrition market is currently dominated by Abbott Nutrition with 19.6% of the total market share. Abbott Nutrition operates as a subsidiary of Abbott Laboratories. The company focuses on discovery, development, manufacturing, and sales of healthcare products. The company operates through four reportable segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and vascular products. Furthermore, the company has two non-reportable segments, namely, diabetes care and medical optics. The diabetes care division of the company is located in California, US and provides blood glucose meters, blood glucose test strips, sensors, data management decision software, and accessories. The company manufacturers its blood glucose test strips at Witney, the UK site. For example, in March 2016, Abbott introduces two new products Ensure & Enlive into the market to help rebuild lost muscle and regain strength and energy by pairing the latest in science and nutrition. This will help the company to extend its product portfolio in muscle and strength category of products.
Mead Johnson Nutrition Company is the second position in term of market share for the global medical nutrition market. The company operates as a subsidiary of Johnson & Johnson Services Inc. J&J manufactures medical devices for various specialties, such as orthopedics, cardiovascular diseases, and many others. J&J Services has acquired and merged with various other companies to expand its portfolio of endoscopic devices. Ethicon, a subsidiary of J&J offers a broad range of suture needle products. Janssen Pharmaceuticals, Inc. is one of the companies of Johnson and Johnson engaged in developing medicines for the treatment of pain.
For Example, In December 2017, Nestlé confirmed on the acquisition of privately held Atrium Innovations, one of the global leader focusing on nutritional health products. This strategic acquisition made by Nestlé will enhance the company’s growth opportunities in consumer healthcare to complement the company’s focus on high-growth food and beverage categories. This transaction will get closed in the first quarter of 2018 followed by completing customary approvals and closing conditions.
Danone Nutricia operates as a food company worldwide. The company distributes its products through retail chains and traditional market outlets, as well as through hospitals, clinics, and pharmacies
Furthermore, in October 2014, Nature’s Products acquired Nutri-Health and Sedona Labs leading brands in the probiotic and enzyme nutritional supplement market. With the acquisition of these two brands, the company has reserved a reasonable amount of share in global medical nutrition market.
These strategies implied by the players in this market is continuous innovation and development of the new and better products to beat the opponents and strive in this big market.