by 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:
The India Medical Nutrition Market involves manufacturing and supplying nutritional products formulated for specific medical conditions. Key products in this market include infant nutrition, adult nutrition, bone & joint nutrition, immunotherapy products and more. These have applications in managing chronic illnesses, unhealthy lifestyles, malnutrition and other clinical nutritional needs.
Market Dynamics:
Rising Demand for Nutritional Products – With increasing lifestyle diseases and health awareness, demand for tailored nutritional solutions is growing. Consumers are willing to opt for nutrition-driven healthcare over curative measures alone. This growing focus on preventive healthcare through balanced diets and medical nutrition is driving growth.
Increasing Prevalence of Lifestyle Diseases – India is witnessing rising incidences of chronic illnesses like diabetes, obesity, cardiovascular issues and more due to sedentary jobs, processed foods and lack of exercise. This has significantly increased the need for customized nutrition supplements and therapy areas like diabetes, bone & joint and weight management products. Industry is catering to this need through constant innovations.
SWOT Analysis
Strength:
– Growing healthcare expenditure in India is driving the demand for medical nutrition products.
– Increasing prevalence of chronic diseases like diabetes, cancer etc. is generating need for specialized medical foods.
– Presence of major players with extensive R&D and manufacturing capabilities.
Weakness:
– Lack of awareness about the benefits of medical nutrition among consumers as well as healthcare professionals.
– Unorganized and fragmented nature of Medical Nutrition Market in India.
Opportunity:
– Rising geriatric population prone to chronic illnesses creates huge market potential.
– Growing adoption of enteral nutrition in home care settings and hospitals.
Threats:
– Stiff competition from alternative treatment therapies and alternative food and beverage products limiting the growth.
– Stringent regulatory framework for the approval of new medical nutrition products.
Key Takeaways
The India Medical Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of chronic diseases.
Market size: The India Medical Nutrition Market was valued at US$ 466.5 million in 2023 and is projected to reach US$ 1,017.2 million by 2030, growing at a CAGR of 8.1% from 2023 to 2030.
Regional analysis: The western region currently dominates India’s Medical Nutrition Market owing to higher healthcare spending and increasing incidence of chronic diseases. However, northern region is expected to witness fastest growth due to growing awareness and improving access to healthcare services.
Key players: Key players operating in the India Medical Nutrition Market are Abbott Laboratories, Baxter International Inc., Danone S.A., Nestlé S.A., GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Fresenius Kabi AG, BASF SE, Zeon Lifesciences Ltd., Mead Johnson & Company, LLC., B. Braun Melsungen AG, Nutrimed Healthcare Pvt. Ltd, Zenova Bio Nutrition, Bionova Lifesciences, Healthy Life Pharma Pvt Ltd, Nutra Healthcare, Lifecare Neuro and Stabicoat Vitamins.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
