India Medical Nutrition Market Is Estimated To Witness High Growth Owing To Rising Awareness About Nutritional Requirements
The global India Medical Nutrition Market is estimated to be valued at US$ 404.1 Mn in 2021 and is expected to exhibit a CAGR of 8.6% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The India Medical Nutrition Market consists of products that are specifically designed to meet the nutritional requirements of patients with medical conditions. These products include oral nutritional supplements, enteral nutrition, and parenteral nutrition. Medical nutrition products provide essential nutrients, vitamins, minerals, and proteins to individuals who have difficulty consuming regular food or have increased nutritional needs due to illness or surgery. These products aid in faster recovery, improve overall health, and enhance the quality of life for patients.
B) Market Key Trends:
The key trend driving the India Medical Nutrition Market is the rising awareness about the importance of proper nutrition in managing health conditions. With the increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer, there is a growing emphasis on the role of nutrition in disease management. Medical nutrition products play a crucial role in meeting the specific nutritional requirements of patients with these conditions. They provide targeted nutrition and help in preventing malnutrition or nutrient deficiencies.
For example, in India, there has been a significant increase in the number of diabetic patients. According to the International Diabetes Federation (IDF), India had an estimated 77 million adults living with diabetes in 2019. This has created a high demand for medical nutrition products specifically designed for diabetic patients, such as nutritional supplements with controlled carbohydrate content.
C) PEST Analysis:
Political: The Indian government has implemented various policies to promote healthcare and improve access to medical nutrition products. For instance, the Pradhan Mantri Jan Arogya Yojana (PMJAY) provides health insurance to economically vulnerable sections of the population, ensuring affordable access to healthcare services, including medical nutrition products.
Economic: The growing disposable income and improving healthcare infrastructure in India are fueling the demand for medical nutrition products. Rising healthcare expenditure and increasing affordability are driving the market growth.
Social: The changing lifestyle patterns, urbanization, and increasing health consciousness among the Indian population are contributing to the demand for medical nutrition products. There is a growing awareness about the importance of preventive healthcare and maintaining optimal nutrition for overall well-being.
Technological: Advancements in manufacturing technologies have led to the development of innovative medical nutrition products with enhanced nutritional profiles. The use of advanced ingredients, such as protein isolates, prebiotics, and probiotics, is gaining popularity in the India Medical Nutrition Market Growth.
D) Key Takeaways:
- The India Medical Nutrition Market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to increasing awareness about the importance of proper nutrition in managing health conditions.
- The Indian market is expected to dominate the Asia-Pacific region in terms of market size, driven by the large population base and increasing prevalence of chronic diseases.
- Key players operating in the India Medical Nutrition Market include Abbott Laboratories, Baxter International Inc., Danone S.A., Nestlé S.A., GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Fresenius Kabi AG, BASF, Zeon Lifesciences Ltd., Mead Johnson & Company, LLC., B. Braun Melsungen AG., Nutrimed Healthcare Pvt. Ltd, and Zenova Bio Nutrition. These companies focus on product innovation, partnerships, and acquisitions to gain a competitive edge in the market.
In conclusion, the India Medical Nutrition Market is poised for significant growth due to the rising awareness about nutritional requirements and the increasing prevalence of chronic diseases. The market offers opportunities for players to develop innovative products and cater to the specific nutritional needs of patients.
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