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India Medical Nutrition Market Growth Set to Surge at 8.1% CAGR from 2023 to 2030

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Lucy Kart
India Medical Nutrition Market Growth Set to Surge at 8.1% CAGR from 2023 to 2030

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 are supplements or formulas used to treat various illnesses and medical conditions such as diabetes, cancer, malnutrition, digestive disorders, obesity etc. These products provide balanced nutrition and help meet higher nutrition requirements during illness or recovery. The Medical Nutrition Market in India is witnessing growth due to rising prevalence of chronic diseases such as cancer, diabetes, malnutrition etc. along with growing aging population who have higher nutrition needs. The products offer tailor-made supplements and formulas for specific health conditions. Providing balanced nutrition helps speed up recovery and reduces risk of complications.

Market key trends:

One of the key trends in the India Medical Nutrition Market is the rising adoption of personalized nutrition. There is a growing focus on developing supplements and formulas tailored to an individual's genetic profile, lifestyle, metabolic needs and clinical conditions. Companies are investing in R&D to offer highly customized nutrition products through precision or personalized nutrition approaches. This allows meeting very specific nutrition needs of patients and ensuring optimal health outcomes. Another trend is the growing demand for plant-based medical nutrition products. With shifting preferences towards vegan and organic products, companies are developing plant-derived and vegetarian options for nutrition therapies. This is expected to further drive the growth of the market.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as the Medical Nutrition Market requires high R&D investment and regulatory approvals.

Bargaining power of buyers: The bargaining power of buyers is low due to the specialized nature of medical nutrition products.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are multiple raw material suppliers.

Threat of new substitutes: The threat of new substitutes is low as medical nutrition products have few alternatives.

Competitive rivalry: Strong competition exists among existing players.

Key Takeaways

The India Medical Nutrition Market Size is expected to witness high growth, exhibiting a CAGR of 8.1% over the forecast period 2023-2030, due to increasing prevalence of chronic diseases.

Regional analysis:

India dominates the Medical Nutrition Market in South Asia. Factors such as rising healthcare expenditure, increasing cognizance about disease management and nutrition are pushing the growth in India.

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. 


Discover More- https://www.trendingwebwire.com/medical-nutrition-market-demand-and-forecast-analysis/

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