The medical nutrition market has seen robust growth over the past decade owing to the need for specialized nutrition products for chronic diseases, genetic disorders, and digestive issues. Medical foods help manage symptoms, support dietary deficiencies, and aid treatment compliance for conditions like diabetes, cancer, Alzheimer's, and digestive disorders. The products come in the form of powders, capsules, liquids, and snacks/meals and provide optimum nourishment tailored to an individual's unique health needs. Advancements in gene therapy techniques allow more accurate and effective treatments for inherited genetic diseases, driving greater demand for related medical nutrition options.
The Global Medical Nutrition Market is estimated to be valued at US$ 13.91 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period between 2024 to 2030
Key Takeaways
Key players operating in the Medical Nutrition are Aprea Therapeutics, Novartis AG, Rocket Pharmaceuticals, Inc., GeneDx, BioMarin Pharmaceutical Inc., AbbVie Inc., Bristol Myers Squibb, copyright Inc., Vertex Pharmaceuticals Incorporated, CRISPR Therapeutics, Editas Medicine, Fate Therapeutics, Inc., Regenxbio Inc., Orchard Therapeutics, uniQure N.V. The lucrative opportunities in the medical nutrition space include specialized products for rare and orphan diseases, supplements for cancer and neurological disorders, formulas tailored for precision and personalized medicine. Advancements in gene therapy techniques through CRISPR, gene editing, and gene silencing allow more accurate and effective management of inherited genetic disorders, driving greater demand for related medical nutrition options.
Market Drivers
The key driver for the Medical Nutrition Market Growth is the rising prevalence of chronic and genetic diseases globally. As per WHO data, chronic conditions account for over 60% of all deaths worldwide each year, with cardiovascular diseases, cancers, respiratory diseases, and diabetes being the leading causes. Genetic disorders also affect over 350 million people worldwide. Growing elderly population prone to age-related ailments further propels the need for specialized nutrition products. Expanding applications of medical foods in additional therapeutic areas and ongoing research & development of innovative formulations will also augment the market growth over the coming years.
Current challenges in Medical Nutrition Market
The Medical Nutrition Market Data is facing many challenges currently due to various factors such as rising prices of raw materials, complicated regulatory frameworks and changing lifestyle and food habits among consumers. High cost and fluctuating prices of raw materials like proteins, vitamins, minerals and prebiotics are significantly impacting the profitability of players in this market. Regulatory compliance is also a major challenge as different countries have different regulatory guidelines to adhere to. Changing food habits where consumers are moving towards processed and junk food consumption rather than nutritious diet is also hampering the growth of medical nutrition products to some extent.
SWOT Analysis
Strength: Wide range of product portfolio with customized solutions as per Medical Nutrition Market Challenges And Opportunities conditions; Growing demand for disease-specific products due to increasing lifestyle diseases.
Weakness: Heavy reliance on limited number of raw material suppliers increases supply chain risks; Stringent regulatory standards increase compliance costs.
Opportunity: Growing elderly population who require nutrition support presents large untapped market; Shift towards plant-based and organic products present new market segments.
Threats: Threat from alternative therapies and nutraceuticals; Intense competition from private label brands providing price pressure.
Geographically, the North American region currently accounts for the largest share in the medical nutrition market in terms of value owing to high healthcare spending, availability of advanced products and increasing lifestyle disease prevalence in countries like US and copyright. The Asia Pacific region is expected to be the fastest growing market during the forecast period due to rising incomes, growing health awareness and expanding healthcare infrastructure in emerging countries like India and China.
The European region also holds significant market share with countries like Germany, UK and France dominating demand. Mature markets like Japan and developed countries of Western Europe are projected to witness moderate growth whereas growth in Latin America and Middle East Africa regions will be largely driven by economic development.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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