Global Medical Nutrition Market, By Nutrition Type (Proteins, Carbohydrates, Multi-Vitamins and Antioxidants, Amino Acid, Fibers, Minerals, and Others), By Patient Type (Infant Nutrition, Adult Nutrition, and Geriatric Nutrition), By Indication (Diabetes, Cancer, Gastrointestinal Diseases, Metabolic Syndromes, and Others), By Route of Administration (Oral, Enteral, and Parenteral), By End User (Hospitals, Home Care Settings, Long Term Care, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 12.2 billion in 2020 and is expected to exhibit a CAGR of 5.5% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Product launches by manufacturers is expected to drive the growth of the global medical nutrition market during the forecast period. For instance, in November 2019, GSK Consumer Healthcare launched Active Horlicks for adults. The product provides fiber and energy nutrients to combat fatigue. Furthermore, in July 2017, Pfizer Consumer Healthcare launched Centrum, a multivitamin product in South Korea. Centrum is a complete multivitamin specially formulated to include all the essential vitamins and minerals a human body requires on a daily basis.
Global Medical Nutrition Market – Impact of Coronavirus (Covid-19) Pandemic
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 5 million infected individuals worldwide as of June 2020.
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COVID-19 can affect the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets. Supply chains and manufacturing activities in India, China, and the U.S. are being disrupted due to global lockdowns while many countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Browse 47 Market Data Tables and 35 Figures spread through 237 Pages and in-depth TOC on 'Medical Nutrition Market'- Global Forecast to 2027, Global Medical Nutrition Market, By Nutrition Type (Proteins, Carbohydrates, Multi-Vitamins and Antioxidants, Amino Acid, Fibers, Minerals, and Others), By Patient Type (Infant Nutrition, Adult Nutrition, and Geriatric Nutrition), By Indication (Diabetes, Cancer, Gastrointestinal Diseases, Metabolic Syndromes, and Others), By Route of Administration (Oral, Enteral, and Parenteral), By End User (Hospitals, Home Care Settings, Long Term Care, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
Research institutes and market players are collaboratively conducting clinical trials of medical nutrition products which is expected to propel the market growth during the forecast period. For instance, in November 2019, Fresenius Kabi AG commenced the United for Clinical Nutrition initiative in Europe with a first-of-its-kind clinical study. The first patients are about to be enrolled in the EuroPN survey, a clinical study that will assess the nutritional balance and focus on functional outcomes of critically ill patients in about 100 hospitals across 11 European countries.
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Key Takeaways of the Global Medical Nutrition Market:
The global medical nutrition market is expected to exhibit a CAGR of 5.5% during the forecast period owing to the increasing demand for medical products which is leading to product launches. For instance, in July 2019, Nestle Inc. launched Modulen IBD, a new nutrition-based medical food product. The product is developed for the management of Crohn's disease disease.
Among nutrition type, the proteins segment accounted for the largest market share in 2019 owing to an increasing number of product launches. For instance, in April 2018, Abbott Nutrition, a nutrition division of Abbott Laboratories, launched an Ensure Max Protein, a 150 calorie nutrition drink. The product is enhanced with 30 grams of high-quality protein and 1 gram of sugar for adults. This new nutrition drink gives adults all the benefits of proteins from maintaining or rebuilding muscle mass to satisfying hunger. Moreover, it is an on-the-go option.
Among patient type, the adult nutrition segment accounted for the largest market share in 2019 owing to the increasing prevalence of chronic diseases. According to the Centers for Disease Control and Prevention (CDC), Chronic Kidney Disease in the United States 2019, around 37 million adults in the U.S. (15% of total adult population) are estimated to have chronic kidney disease (CKD).
Among indication, the diabetes segment accounted for the largest market share in 2019 due to the rising prevalence of diabetes. According to the International Diabetes Federation (IDF), in 2019, 463 million adults aged 20-79 had diabetes globally, which is expected to reach 700 million by 2045, resulting in 51.2% increase during 2019 – 2045. As per the IDF, around 374 million people worldwide are at an increased risk of developing type 2 diabetes.
Among route of administration, the oral segment accounted for the largest market share in 2019 owing to an increasing number of product launches. For instance, in March 2019, BASF SE launched PeptAIde, a new sports nutrition ingredient. This product will help consumers in China maintain active lifestyles by modulating inflammation in post-workout recovery. BASF launched a range of other nutritional health solutions at Food Ingredients China 2019, in line with increasing interest in healthy living in China.
Among end user, the hospitals segment accounted for the largest market share in 2019 due to availability of several product offerings. For instance, Nestle S.A. offers IMPACT and Sustagen Hospital Formula Active, which are clinically proven nutritional solutions for the dietary management of major elective surgery patients, to improve clinical outcomes, and reduce postoperative complications and length of hospital stay.
Key players operating in the global medical nutrition market are Abbott, Baxter, Danone S.A., Nestlé, GlaxoSmithKline Plc, Fresenius Kabi AG, Sun Pharmaceuticals Inc., BASF SE and DSM among others.
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