The global India medical nutrition Market is estimated to be valued at US$ 476.59 Mn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The India medical nutrition market has a large patient pool that requires medical nutrition products. Growing awareness about nutrition and healthcare in India is driving the demand for medical nutrition products. Government initiatives to promote healthcare are positively impacting the market growth.
Weakness: Lack of awareness in rural areas of India regarding the benefits of specific medical nutrition restricts the market growth. High prices of customized medical nutrition formulations pose affordability issues.
Opportunity: Rising incidence of chronic diseases such as cancer, diabetes etc provides immense scope for growth of specialized medical nutrition products. Emergence of e-commerce platforms enhances accessibility of medical nutrition products across India.
Threats: Strong competition from substitute products poses pricing challenges. Faulty implementation of policies can negatively impact the market.
Key Takeaways
The Global India Medical Nutrition Market Demand is expected to witness high growth. The market size was valued at US$ 476.59 Mn in 2023 and is projected to reach US$ 1,145.24 Mn by 2030, expanding at a CAGR of 24% during the forecast period. This is attributed to increasing prevalence of chronic diseases, rising elderly population and growing awareness about nutrition in healthcare.
Regional analysis related content comprises East India and South India are expected to be the fastest growing regions owing to rapidly developing healthcare infrastructure and large patient base. Maharashtra is currently the dominating region accounting for over 25% of total India medical nutrition market share in 2023.
Key players related content comprises Key players operating in the India medical nutrition market are Keith Prowse, RTR Sports Marketing Pvt Ltd, Meril Life Sciences Pvt. Ltd., Yakult Danone India Pvt Ltd., Herbalife International India Private Limited. These players are focusing on developing specialized formulations, enhancing distribution networks and promoting brand awareness to strengthen their market position.
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