The India Medical Nutrition Market is estimated to be valued at US$ 466.5 million in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medical nutrition products in India include dietary supplements for disease management such as enteral nutrition, parenteral nutrition, and formula milk for infants and adults. These products are used for management of chronic diseases including diabetes, cancer, gastrointestinal disorders, and malnutrition.
Market Dynamics:
The India Medical Nutrition Market is primarily driven by the growing burden of chronic diseases and increasing awareness regarding preventive healthcare and nutritional management. As per statistics, diabetes prevalence in India has increased from 8.7% in 2020 to 9.3% in 2021, affecting about 77 million people. Additionally, malnutrition prevalence remains high in the country, with 36 million children reported to be stunted in 2019. The demand for specialized therapeutic nutrition products is expected to rise substantially to manage such health conditions effectively.
Market key trends:
The India Medical Nutrition Market has been witnessing high growth due to the increasing prevalence of chronic diseases and rising health consciousness among consumers. Growing elderly population suffering from chronic diseases like cancer, gastrointestinal disorders is driving the demand for nutritional products in the country. Furthermore, the launch of innovative products tailored to address the nutritional requirements of patients at different stages of disorders is a key trend in the market.
SWOT Analysis
Strength: Growing elderly population susceptible to chronic diseases, increasing healthcare expenditure.
Weakness: Lack of awareness, high cost of specialized medical foods.
Opportunity: Rising incidence of chronic diseases, untapped rural markets.
Threats: Intense competition, easy availability of alternatives.
Key Takeaways
India Medical Nutrition Market Size was valued at US$ 466.5 million in 2023. The market is expected to grow at a substantial CAGR of 8.1% during the forecast period due to the increasing burden of chronic diseases in the country.
Regional Analysis
Regionally, South India dominates the India Medical Nutrition Market with the highest consumption. The higher prevalence of lifestyle diseases such as diabetes and obesity among urban populations is driving sales in the region. Meanwhile, North India is expected to be the fastest growing market owing to growing health awareness.
Key Players
Key players 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 SE, etc. These leading players are focusing on expanding their product portfolios through frequent new launches tailored to address the nutritional needs at different stages of chronic disorders.
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