Medical Nutrition Market Global Research Report by Type (Sports Nutrition, Pediatric Nutrition and Others), Product Type (Chamber Bags, Trace Elements), Application (Pediatric Malnutrition, Diabetes, Obesity, Renal Failure, Sarcopenia, Cancer and others)
pune, India - July 5, 2019 /MarketersMedia/ —
Market Highlights
As per the latest analysis by Market Research Future (MRFR), the worth of the global medical nutrition market is estimated to be highly lucrative by 2023. In addition, the market is expected to surge at a growth rate of 5% during the forecast period (2015-2023).
Growth Drivers and Top Challenges
The expanding healthcare industry, with growth in technological advancement is diminishing the threat of mortality by a significant margin. The lifespan of people has increased compared to that of people in the past centuries, giving way to the expansion of the geriatric population. In addition, the rise in the birth rate along with the growing cases of successful premature births has given a much-needed thrust to the medical nutrition market in recent times.
The continuously evolving lifestyle the world over has led to a surge in the number of chronic diseases like diabetes and cancer. Obesity is proving to be a perennially daunting burden for medical professionals with the onslaught of a variety of ailments arising. Hence, medical nutrition products are known as the best way to combat such diseases. On that note, malnutrition has created a massive upsurge in the medical nutrition market, with a burgeoning patient pool receiving medical attention on account of the lack of nutrition across the globe.
However, one of the main market dampeners will come in the form of strict government policies about medical nutrition products. Having said that, growing cases of premature birth, malnutrition, lifestyle-associated diseases, and expanding geriatric populace are some factors striving to ensure that the market has a smooth run over the coming years.
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Competitive Landscape
Notable players in the Medical Nutrition Market include
• Baxter Healthcare Corporation (U.S.)
• B. Braun Melsungen AG (Germany),
• Danone Nutricia (France),
• Mead Johnson Nutrition Company (U.S.),
• Nestlé Health Science (Switzerland),
• Fresenius Kabi AG (Germany).
• Grifols S.A. (Spain),
• GlaxoSmithKline Plc (U.K.)
• Abbott Nutrition (U.S.)
• Danisco (Denmark)
• Bayer AG (Germany)
• Pfizer Inc. (U.S.)
• Sanofi (France)
Market Segmentation
The worldwide medical nutrition market has been segmented on the basis of type, product type, route of administration, application and distribution channel.
In terms of type, the medical nutrition market is considered for pediatric nutrition, parenteral nutrition, elderly nutrition, and sport nutrition. Between these, pediatric nutrition makes up the biggest share valued at USD 7,902.55 million, which is set to reach USD 9,121.97 million by 2023. Meanwhile, sport nutrition is projected to depict the fastest growth rate of 5.4% in the following years, in addition to reaching the valuation of USD 5,969.16 million.
Depending on the product type, the market can be broken down into amino acid solution, multiple vitamins & antioxidants, lipid emulsion, trace elements, chamber bags, and others. Amino acid solution is set to experience the best growth among these, with the estimated value of USD 12,307.25 million. The segment is expected to attain the value of USD 14,146.84 million during the evaluation period. But it is the chamber bags segment that is predicted to demonstrate the fastest growth rate of 5.39%, inching towards the value of USD 2,852.42 million by 2023.
The routes of administration covered in the report include parenteral, oral, and others. Parenteral covers the largest share worth USD 20,003.02 million, predicted to touch the valuation of USD 23,693.66 million by 2023. Although, the oral segment is poised to enjoy the highest growth rate of 4.47% compared to its counterparts, during the conjectured time frame.
Application-wise, the medical nutrition market has been segmented based on pediatric malnutrition, gastrointestinal diseases, renal failure, cancer, pulmonary diseases, diabetes, neurological diseases, and others. Pediatric malnutrition is believed to be on the way to obtain the maximum value of USD 14,675.13 million by 2023. Whereas, the diabetes segment is anticipated to be surging at the fastest CAGR of 4.44% between 2015 to 2023.
As per the distribution channel, the medical nutrition market caters to into hospitals, compounding pharmacy, retail pharmacy, and e-commerce websites. Hospitals is to garner the maximum share in the upcoming years, with its value set to cross USD 10,439.54 million and reach USD 12,262.16 million. On the other hand, the retail pharmacies segment is slated to thrive at the highest CAGR of 5.19% over the review period.
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Regional Insight
The geographical analysis of the medical nutrition market has been done for the key regions of the Americas, Asia Pacific (APAC), Europe, as well as the Middle East & Africa (MEA).
The Americas managed to attain the top spot, garnering the largest share in the medical nutrition sector market. The regional market was valued at USD 15,207.6 million in 2018 and is expected to cross that value to arrive at USD 17,765.1 million in the evaluation period. Unequalled infrastructure, growing healthcare spending, and surge in the awareness among people has resulted in the regional market gaining global dominance.
Among the frontrunners is Europe, with the market just behind the Americas and is poised to increase from USD 13,008.4 million valuation of 2018 to the value of USD 16,036.4 million during the forecast period. The region is slated to grow at the rate of 4.3% in the years ahead, with the elevated spending on research and development and subsequent increase in the product demand within the region.
The market growth in Asia Pacific region is expected to demonstrate the fastest growth rate of 4.5% during the appraisal period, with predictions of its valuation reaching the USD 12,092.7 million mark. The region boasts of a well-established healthcare sector, with several countries in the region currently striving to revamp the healthcare structure. Also, with the government undertaking initiatives to spread awareness, the medical nutrition market in the region is bound to achieve further success soon.
The Middle East and Africa market has been identified as the slowest growing market, in terms of revenue, with the projected value to be USD 6,501 million during the review period. Having said so, the growth rate of the regional market is believed to be better than that of the Americas, which is going to be 4.1% in the following years.
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