India Medical Nutrition Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Chronic Diseases & Rising Geriatric Population

 

India Medical Nutrition Market 

 

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 encompasses a wide range of products designed specifically for medical purposes, such as dietary supplements, enteral nutrition, and parenteral nutrition. These products are used to fulfill the nutritional requirements of patients suffering from chronic diseases, malnutrition, and those in need of therapeutic interventions. They are prescribed and administered under medical supervision to ensure optimal health outcomes.

Medical nutrition products have become essential in the treatment and management of various medical conditions. These products provide necessary nutrients, vitamins, and minerals to support the overall well-being of patients. They help in maintaining proper body weight, managing chronic diseases, and improving the quality of life for individuals with special dietary needs.

B) Market Dynamics:
The India Medical Nutrition Market is driven by two main factors: the increasing prevalence of chronic diseases and the rising geriatric population.

1. Increasing Prevalence of Chronic Diseases:
India is witnessing a significant rise in the prevalence of chronic diseases such as diabetes, cardiovascular diseases, cancer, and respiratory disorders. According to the World Health Organization (WHO), non-communicable diseases account for approximately 60% of all deaths in India. These diseases require specialized nutritional support to manage symptoms, prevent complications, and improve patient outcomes. The growing need for disease-specific nutrition is driving the demand for medical nutrition products in the country.

For example, in the case of diabetes, India Medical Nutrition Market Growth plays a crucial role in managing blood sugar levels and preventing complications. Specialized nutritional formulas designed for diabetics help control glycemic response and promote weight management. With the increasing diabetic population in India, the demand for diabetic-specific medical nutrition products is expected to grow significantly.

2. Rising Geriatric Population:
India is also experiencing a rapid increase in the geriatric population. According to the United Nations, the number of older adults (above 60 years) in India is projected to reach 319 million by 2050. With aging, individuals are more susceptible to various health conditions and require specialized nutritional support to meet their specific needs. Medical nutrition products formulated for the elderly play a crucial role in promoting healthy aging, managing chronic conditions, and reducing the risk of malnutrition.

C) SWOT Analysis:
Strength:
1. Increasing awareness about the importance of proper nutrition for disease management
2. Growing demand for disease-specific medical nutrition products

Weakness:
1. Limited reimbursement coverage for medical nutrition products
2. High cost of specialized medical nutrition products

Opportunity:
1. Expansion of product portfolios to cater to niche markets
2. Collaborations and partnerships with healthcare organizations to enhance distribution networks

Threats:
1. Stringent regulatory guidelines for the production and marketing of medical nutrition products
2. Intense competition from local and international players in the market

D) Key Takeaways:
The global India Medical Nutrition Market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to increasing prevalence of chronic diseases and the rising geriatric population.

In terms of regional analysis, North India is expected to emerge as the fastest-growing and dominating region in the India Medical Nutrition Market. The region has a higher prevalence of chronic diseases and a larger geriatric population, leading to an increased demand for medical nutrition products.

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 have a strong presence in the market and offer a wide range of medical nutrition products to cater to the diverse needs of patients.