In the coming years, it is expected that the Global Medical Nutrition Market will advance with higher growth rate as compared to previous years. Rising pressure to curb healthcare costs has fuelled the growth of the market for Medical Nutrition Market.
Pune, India -- (SBWIRE) -- 01/23/2018 -- MarketResearchFuture.com adds "Medical Nutrition Market -2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023" reports to its database.
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The report titled "Medical Nutrition Market -Forecast to 2023? is a direct appreciation by Market Research Future of the market potential of the Medical Nutrition Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today's winner takes all market!
Evolution of the Industry:
Earlier, medical products were used only when an individual experienced malnutrition/similar issues. But, advancements in the health sector have provided a gateway for the growth of medical nutrition market. The demand for these products has increased drastically.
Medical nutrition is intended for comprehensive health management. It assesses the nutrition status of patients. These products also enhance their immunity & health. Dieticians and doctors utilize them as drug complements in conventional treatments.
Healthcare nutrition comprises dietary changes, education & counseling, intravenous nutrition, tube feeding, medical food, etc. It can be harnessed to avoid diseases; like Alzheimer's, HIV, sarcopenia, obesity, and diabetes.
The global medical nutrition market is estimated to earn more than USD 52.5 billion by 2023. It should grow at a CAGR of over 4.4% during the forecast period (2018 to 2023). This progress is driven by the requisite need for assessment and supervision of nutrition in the elderly.
Major industry propellers are rising diseases, premature births, & 'fitness conscious' geriatric population. Millions of people across the world suffer from malnutrition. It is prevalent in draught-affected and economically backward regions. This factor too, drives the market.
Yet another key driver of the worldwide medical nutrition market is cancer. A cancer patient is recommended medicines and nutritional therapy. These affect his/her eating patterns, resulting in unhealthy weight loss. Thus, the need for healthcare nutrition products arises. Furthermore, the emergence of online marketing benefits the industry. Eminent industry players lay stress on advertising activities. They have begun using online platforms to reach a wider audience.
Other aspects that result in market growth include changing lifestyles, long working hours, chain-smoking, and regular alcohol consumption. Eating out has positively impacted the medical nutrition market. However, the market observes hindrances in the form of high pricing and critical reimbursement policies. These are imposed by various governments.
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Nutrica, a Major Player, launched an innovative Neocate Syneo in 2016. It is a unique blend of probiotics and prebiotics. It can aid the development of balanced gut microbiota in infants with food allergies, milk allergies, and related gastrointestinal disorders. Neocate Syneo was the first hypoallergenic formula that was introduced in pediatric nutrition.
Key Players & Their Strategies:
The brands that lead the worldwide medical nutrition market are Neomed, Nestle, Nutricia, Baxter International, and Abbott Nutrition. They are working on their product ranges & augmenting their market presence.
Some of the important strategies adopted by them include agreements & collaborations and mergers & acquisitions. And most important of all, new product launches. These strategies will drive positive results and create awareness regarding medical nutrition in untapped markets.
The worldwide medical nutrition market is divided on the basis of products, applications, and geographies. Products include elderly nutrition, parenteral nutrition, pediatric nutrition, enteral nutrition, & sports nutrition.
Parenteral nutrition refers to individual intravenous-feeding. The patient is administered liquid nutrition directly into the veins. Glucose, electrolytes, proteins, and vitamins are administered through parenteral products. In 2015, parenteral stood around USD 4 billion. It is expected to grow at over 4.6% CAGR in the near future.
Pediatric nutrition held more than 54.4% shares, with over 8.6% CAGR. Escalating premature births, baby boomer's population coupled with metabolic disorders largely contribute to healthcare nutrition. Enteral holds around 28.9% shares. Patients normally prefer enteral products over others. This is credited to their easy usage.
On account of applications, the market is fragmented on the basis of pediatric malnutrition, diabetes, obesity, renal failure, sarcopenia, cancer, & others. Coming to locations, the medical nutrition industry is split into North America, Latin America, Europe, Asia Pacific, Middle East & Africa, and Rest of the World. North America has emerged as a hub for healthcare nutrition. Europe is not far behind.
In the future, Asia Pacific is projected to dominate the global market. Increasing birth rates & malnutrition and the vast geriatric population will contribute to its growth.
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