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Medical Nutrition Is Estimated To Witness High Growth Owing To Opportunity Of Addressing Rising Prevalence Of Chronic Diseases

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Leena Shedmake
Medical Nutrition Is Estimated To Witness High Growth Owing To Opportunity Of Addressing Rising Prevalence Of Chronic Diseases

Medical nutrition products include nutritional supplements, enteral nutrition products, and parenteral nutrition products. These products help in managing diseases, providing balanced diet, and improving overall health. Rising prevalence of chronic diseases such as diabetes, cancer, gastrointestinal disorders is generating high demand for medical nutrition products. These products play a vital role in managing the nutrition and energy requirements of patients suffering from chronic diseases.

The global Medical Nutrition Market is estimated to be valued at US$ 16.52 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market Opportunity:


The rising prevalence of chronic diseases presents a major market opportunity for medical nutrition products. Chronic diseases such as cancer, diabetes, gastrointestinal disorders have become highly prevalent worldwide. It is estimated that around 133 million Americans are currently living with at least one chronic disease. Medical nutrition products help in managing the nutrition requirements and energy intake of patients suffering from chronic diseases. Hence, the increasing burden of chronic diseases worldwide is expected to generate significant demand for specialized medical nutrition products over the forecast period. Players in the medical nutrition market can leverage this opportunity by developing innovative and specialized products that help patients manage their chronic diseases through balanced nutrition. They can also conduct awareness programs to educate people about role of medical nutrition in chronic disease management. This will further aid in addressing the rising global chronic disease burden.


Porter’s Analysis


Threat of new entrants: The medical nutrition market has moderate barriers for new entrants due to the need for extensive research and development. Companies would need to invest significant capital to produce innovative products and gain regulatory approvals.


Bargaining power of buyers: Individual consumers have low bargaining power in this market as medical nutrition products address critical medical conditions. However, large hospitals and pharmaceutical retailers can negotiate on price and influence market trends.


Bargaining power of suppliers: The market has several raw material suppliers for specialized ingredients used in medical nutrition manufacturing. This gives suppliers moderate bargaining power depending on ingredient availability and pricing dynamics.


Threat of new substitutes: Potential substitutes include generic supplements and nutritional formulations for managing specific diseases. However, medical nutrition offers clinically researched formulas tailored for medical conditions restricting viable alternatives.


Competitive rivalry: The presence of many global and regional players results in high competition. Companies compete based on new product innovations, customized offerings, aggressive marketing, and expanded geographic reach.


SWOT Analysis


Strength: Medical nutrition caters to conditions with no alternatives, ensuring consistent demand. Research into disease-specific formulas is a key strength.

Weakness: High manufacturing costs and regulatory compliance make the market vulnerable to pricing pressures. Dependence on limited suppliers can impact continuity.

Opportunity: Rising healthcare expenditures and prevalence of chronic diseases in developing nations present an opportunity. Tailored products for unmet needs offer scope for growth.

Threats: Reimbursement policies influence affordability and market trends. Stringent regulations around new product approvals are a challenge.


Key Takeaways


The Global Medical Nutrition Market Growth is expected to witness high. Rapid urbanization, growing health awareness, and rising incomes are anticipated to boost consumption. The global Medical Nutrition Market is estimated to be valued at US$ 16.52 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024-2031.

The North American region currently dominates due to advanced healthcare infrastructure and availability of specialized clinics for managing chronic conditions. Europe follows as the second largest regional market supported by favourable reimbursement schemes. The Asia Pacific region is identified as an emerging and highly lucrative medical nutrition market anticipated to grow at the fastest CAGR during the forecast period. Rapid economic growth, increasing health expenditures, rising lifestyle diseases, and growing medical tourism are driving the regional market growth. India and China represent major emerging countries capitalizing on these trends.


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., and Orchard Therapeutics, uniQure N.V. 

Explore more information on this topic, Please visit-  

https://www.newsstatix.com/medical-nutrition-market-share-size-and-growth-share-trends-analysis-demand-forecast/

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