India Medical Nutrition Market Is Anticipated To Witness High Growth Owing To Increasing Prevalence
Author : Leena Shedmake | Published On : 12 Feb 2024
The India medical nutrition market is engaged in the production and sales of products that are intended for the dietary management of diseases or health conditions. Nutrition products prescribed by medical professionals include pediatric nutrition, parenteral nutrition, elderly nutrition, diabetes care, chronic kidney disease, and other therapeutic areas. The rising incidence of chronic diseases such as cardiovascular diseases, diabetes, cancer, and obesity is driving the demand for medical nutrition in India. Specialized nutrition products help manage these conditions and improve patient outcomes.
The Global India Medical Nutrition Market is estimated to be valued at US$ 549.04 Bn in 2024 and is expected to exhibit a CAGR of 24.% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the India medical nutrition are Keith Prowse, RTR Sports Marketing Ltd, ATPI Ltd, RK Sports Hospitality, White Label Hospitality, CSM Sports and Entertainment LLP, DTB Sports Hospitality and Event Management Limited, Honey & Co. Ltd, Wood Media Group Ltd, Hospitality Finder, Legends International, On Location Experiences, QuintEvents, Sportsworld, The Sports Travel Company, TLA Worldwide, VIP Sports Events, World Sports Group, IMG, Wasserman, Octagon, WME Sports, CAA Sports. The medical nutrition industry provides various growth opportunities such as expanding product lines, collaborations with healthcare providers and insurers. Major players are exploring opportunities in developing countries like India owing to large patient pool and increasing healthcare expenditure.
Key players are focusing on expanding their product portfolio and global footprint to tap the potential of the Indian medical nutrition market. Several global players have established production and distribution facilities in India. For instance, Abbott operates nutrition manufacturing plants in India that produce specialized pediatric and adult products. Nestle Health Science has launched new products tailored for Indian patients suffering from dysphagia, diabetic care and chronic kidney disease. International players are also actively acquiring local manufacturers to strengthen their positions in India.
Market drivers: Rising prevalence of chronic diseases, growing health awareness, increased access to healthcare facilities particularly in tier 2 and 3 cities, rising expenditure on healthcare, growth of nutraceuticals industry are some of the key factors expected to propel the growth of India medical nutrition market.
Market restraints: High prices of specialized medical foods, lack of awareness regarding medical nutrition among healthcare practitioners and patients in rural areas, insufficient insurance coverage are the major challenges for the growth of India's medical nutrition market. Additionally, inconsistent quality of local products and supply chain issues pose threats. Various government initiatives are being taken to address these restraints.
Segment Analysis
The India Medical Nutrition Market Demand is dominated by the enteral nutrition sub-segment. This is because enteral nutrition products like food thickeners, beverages, and supplements are recommended for several chronic diseases like diabetes, cancer, gastrointestinal diseases by doctors to provide balanced nutrition. These products offer balanced nutrition through the digestive tract, prevent malnutrition by maintaining body weight and muscle mass.
Global Analysis
Regionally, southern India is expected to dominate the India medical nutrition market during the forecast period. This is due to the presence of a large patient pool suffering from chronic diseases like diabetes and gastrointestinal diseases in states like Kerala, Karnataka, and Tamil Nadu. Additionally, rising awareness about nutrition management in chronic diseases and inflating per capita healthcare expenditure in these states are also fueling the market growth in southern India. North India and western India are also anticipated to witness significant growth attributed to the rising geriatric population, improving healthcare infrastructure, and growing consumer affordability in these regions. Overall, improved accessibility to medical nutrition products across online and offline sales channels, widespread chronic disease prevalence, and rising healthcare expenditure are fueling the growth of the India medical nutrition market.
