Medical Nutrition Is Estimated To Witness High Growth Owing To Opportunity In Addressing Malnutrition

Medical nutrition products play a vital role in managing various medical conditions through balanced nutritional formulations. They include dietary supplements, enteral formulas, and parenteral nutrition formulas. Dietary supplements provide essential nutrition to support metabolic needs, active lifestyles, and overall well-being. Enteral formulas are used for managing malnutrition or feeding disorders through oral or tube feeding. Parenteral nutrition is delivered through an intravenous route and used for individuals who cannot obtain nutrition through oral or tube feeding.

The global Medical Nutrition Market is estimated to be valued at US$ 14.34 billion in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Addressing malnutrition presents a major market opportunity for medical nutrition products. Malnutrition encompasses both over-nutrition leading to obesity and under-nutrition due to micronutrient deficiencies. According to WHO, over 38 million children under the age of 5 years were overweight or obese in 2020. Additionally, 149 million children were stunted, 50 million wasted and 2.3 billion adults were overweight or obese worldwide. Medical nutrition products help address micronutrient deficiencies through dietary supplements and balanced macros through formula-based nutrition support. The growing prevalence of malnutrition globally will drive increased adoption of science-based nutrition offerings to promote healthy growth and development.

Porter's Analysis

Threat of new entrants: The medical nutrition market has moderate threat from new entrants due to high setup costs for R&D and manufacturing facilities. However, large companies pose the biggest threat in terms of brand recognition and distribution power.
Bargaining power of buyers: Buyers in the form of hospitals, healthcare providers, pharmacies have moderate bargaining power due to the availability of substitutes. However, specialty products reduce bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute raw materials. However, patents provide some suppliers with differentiation advantage.
Threat of new substitutes: Threat from substitutes is moderate as new formulations and delivery formats of similar products pose competition. However, lack of identical benefits maintains differentiation.
Competitive rivalry: The market has high competitive rivalry due to the presence of global key players offering a variety of differentiated products.

SWOT Analysis

Strength: Wide product portfolio, strong R&D capabilities, global presence, brand recognition.
Weakness: High R&D and marketing investments, regulatory compliance-related costs.
Opportunity: Growing aging population, disease prevalence, demand in emerging nations.
Threats: Patent expiries, supply chain disruptions, price controls and reimbursement policies.

Key Takeaways

The Global Medical Nutrition Market Growth is expected to witness high over the forecast period. Rapid urbanization, rising lifestyle diseases, and increasing health awareness are fueling the demand. The global Medical Nutrition Market is estimated to be valued at US$ 14.34 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023-2030.

North America dominates the global market due to advanced healthcare infrastructure, high healthcare spending, and growing obesity. However, Asia Pacific is expected to be the fastest growing region due to improving access to healthcare and rising disposable incomes.

Key players operating in the medical nutrition market are Abbott, Baxter, Danone S.A., Nestlé, GSK Plc, Fresenius Kabi AG, Sun Pharmaceutical Industries Ltd, BASF SE, and DSM. Abbott leads the market with its diversified product portfolio catering to pediatric, adult, and rare disease patients. The companies are engaged in expanding their geographic presence through acquisitions and partnerships with regional players. DSM focuses on expanding its ingredient solutions for sports and medical nutrition.

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