The India Medical Nutrition Market is estimated to be valued at US$ 466.5 million in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medical nutrition refers to nutritional products that are used to meet the needs of patients having malnutrition or certain diseases as well as the needs of individuals wishing to supplement their intake of certain vitamins and minerals. These products include both nutritional supplements taken orally and specific nutritional products used enterally, via a tube feeding. They help meet the additional nutritional needs of patients suffering from conditions including cancer, gastrointestinal disorders, neurological disorders, diabetes, etc. Medical nutrition has an advantage over conventional foods as it provides balanced nutritional support to patients who are unable to meet their dietary requirements through normal food intake.
Market Dynamics:
The growth of the India Medical Nutrition Market is mainly driven by the increasing healthcare expenditure in India as well as rising prevalence of chronic diseases in the country. Healthcare expenditure in India is increasing at a significant rate, which can be attributed to factors such as rising affordability, increasing awareness among people, launch of various government-sponsored insurance schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY), and expansion of medical infrastructure. In addition, increasing prevalence of chronic and age-related diseases like cancer, diabetes, gastrointestinal disorders, etc. in India is augmenting the demand for medical nutrition products for disease management. For instance, according to the Ministry of Health and Family Welfare, Government of India, cancer burden in India is estimated to increase to over 1.7 million new cancer cases in 2035 from 1.4 million
Segment Analysis
The India Medical Nutrition Market is segmented into pediatric nutrition, parenteral nutrition, elderly nutrition, sports nutrition. The pediatric nutrition segment held the largest share of 40% in 2022 owing to the rising incidence of malnutrition among children and increasing focus on addressing their nutritional needs through scientific formulations.
PEST Analysis
Political: The government initiatives supporting provision of medical nutrition products under reproductive and child healthcare programs have boosted market growth.
Economic: Rising disposable incomes have increased the ability of people to spend of healthcare and medical nutrition products for better quality of life.
Social: Growing health awareness and focus on preventive care is driving demand for nutritional supplements and specific condition-based clinical nutrition products.
Technological: Advances in formulation techniques help address nutritional deficiencies through efficient delivery systems in nutritional products.
Key Takeaways
India Medical Nutrition Market Size is valued at US$ 466.5 million in 2023 and is expected to reach US$ 857.5 million by 2030, expanding at a CAGR of 8.1% during 2023-2030. Growing prevalence of chronic disorders like cancer, diabetes is fueling the demand for therapeutic clinical nutrition in the country. Regionally, South India dominates currently owing to increasing lifestyle diseases and rising healthcare expenditure. However, Western India is likely to witness fastest growth due to expanding patient pool. Key players operating in the India Medical Nutrition Market are Abbott Laboratories, Baxter International Inc., Danone S.A., Nestlé S.A., GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Fresenius Kabi AG, BASF SE, Zeon Lifesciences Ltd., Mead Johnson & Company, LLC., B. Braun Melsungen AG, Nutrimed Healthcare Pvt. Ltd, Zenova Bio Nutrition, Bionova Lifesciences, Healthy Life Pharma Pvt Ltd, Nutra Healthcare, Lifecare Neuro and Stabicoat Vitamins.
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