Specialized Formula Medical Nutrition Market Size, Share, Growth, and Industry Analysis by Type (Infant Medical Nutrition Products, Enteral Medical Nutrition Products, and Parenteral Medical Nutrition Products) By Application (Adult, Geriatric, and Pediatric), Regional Insights, and Forecast From 2024 To 2031

Specialized Formula Medical Nutrition Market Report Overview

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The global specialized formula medical nutrition marketsize was USD 17294.32 million in 2021 and is expected to reach USD 32399.99 million by 2031, exhibiting a CAGR of 6.48% during the forecast period.

Medical nutrition is generally understood to be a helpful composition created to support the physical maintenance, therapeutic process, and symptom management of individuals with specific medical illnesses. Adult, geriatric, and juvenile populations might all essentially receive medical nutrition.

Given that diet is an essential component of treatment, clinical nutrition is becoming a feasible option for disease management. In recent years, the prevalence of non-communicable diseases such as malnutrition, type 2 diabetes, cardiovascular illnesses, and obesity has skyrocketed. Up to 697,000 Americans may die from heart disease in the U.S. in 2020, according to data from the CDC. The most frequent form, coronary heart disease, claimed 382,820 lives.

The specialized formula medical nutrition markethas had explosive growth in recent years. This growth will continue during the projected period. Patients with nutritional deficiencies are given specialized formula medical nutrition to enhance their quality of life and outcomes. It is customized and modified to meet the unique nutritional requirements of a given patient in terms of availability, preferences, and capabilities.

COVID-19 Impact: Rising Awareness About Infant Nutrition Propelled Market During Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

In response to the COVID-19 pandemic, lockdowns and other limitations were imposed, and it has been claimed that this had a negative effect on the worldwide healthcare sector. However, consumption of nutritional goods is significantly rising, particularly in environments where home care is provided. In order to meet their nutritional needs without visiting the hospital, the growing patient population is also choosing at-home medical nutrition therapy, which points to robust specialized formula medical nutrition marketgrowth.

LATEST TRENDS

"Expanding E-commerce Availability to Present New Opportunities"

The market for specialist medical nutrition products is significantly impacted by the e-commerce platform's expanding reach. Since the e-commerce platform provides an online manner of distribution channel, it is anticipated that geographic penetration will rise. The demand for specialized formula medical nutrition is anticipated to increase as a result. Due to lowered immunity and deteriorating health brought on by aging, the elderly are more susceptible to chronic diseases. One or more chronic diseases, including cancer and hypertension, are prevalent in this age group of the population. Additionally, chronic diseases are becoming more and more common on a global scale.

Government initiatives, media sway, and extensive marketing operations have multiplied knowledge of specialized nutrition during the past few years. For instance, according to a report by the British Specialist Nutrition Association Ltd in February 2021, the Medical Nutrition International Industry (MNI) and the Specialized Nutrition Europe (SNE) specialist nutrition industry organizations unanimously hailed the release of Europe's Beating Cancer Plan. This includes practices that help cancer patients heal more quickly and have a high chance of survival.

Specialized Formula Medical Nutrition Market Segmentation

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• By Type Analysis

In terms of type, the market share is trifurcated into Infant Medical Nutrition Products, Enteral Medical Nutrition Products, and Parenteral Medical Nutrition Products. Among these, the infant medical nutrition products segment is projected garner modest proceeds through 2027.

• By Application Analysis

Considering application, the market share is divided into Adult, Geriatric, and Pediatric. Among these, the adult segment is slated to generate maximum market demand over the projected timeframe.

DRIVING FACTORS

"Increasing Risk of Mortality Would Propel Market Growth "

Around the world, clinical nutrition is being used more frequently to manage and treat chronic illnesses. These conditions increase the risk of mortality and result in protracted hospital stays. People are also more likely to develop heart disease as a result of their lifestyle choices and physical problems like diabetes, obesity, and bad diets. Over the course of the projection period, the specialized formula medical nutrition market players will have a positive outlook due to the rising prevalence of chronic illnesses including cardiovascular disease.

Manufacturers have potential thanks to ongoing studies on the effects of nutrition on the process of healing and rising consumer demand for goods to address malnutrition and hospital nutrition management. For instance, Nestlé recently inaugurated a brand-new R&D facility for maternal and baby nutrition in Ireland. A segment dedicated to medical nutrition and good ageing has also been established by multinational dairy nutrition business Fonterra. This section will create nutritional treatments based on science to assist those who are ill with cancer, malnutrition, and other ailments as well as to help individuals age in great health and live a lot longer.

"Aging Population to Present Robust Opportunities to Market Players"

The specialized formula medical nutrition market share is being driven by factors such an aging population, an increase in lifestyle-related and chronic diseases, growing knowledge about the role of nutrition in disease management, and a rapid increase in demand for home healthcare. But during the projection period, difficulties with specialized nutrition are anticipated to limit market expansion. Additionally, in the upcoming years, the global market for customized formula medical nutrition is projected to present enormous prospects because to the growing emphasis on personalized treatment.

Another element influencing the growth of the industry is the rise in the number of preterm births. In 2020, 1 in 10 births in the U.S. will be preterm, according to the CDC. One of the main causes of newborn mortality worldwide is prematurity. Low birth weight babies are more likely to experience cognitive problems, infections, and even an early death. Making sure they have access to the right nutrients is crucial to increasing their chance of survival and organ performance. The clinical nutrition market will have profitable growth prospects as a result of the high nutritional needs of premature neonates.

RESTRAINING FACTORS

"Strict Regulatory Scenario to Create Roadblocks for Market Ahead"

Clinical nutrition solutions may face strict regulatory frameworks that could put a stop to the market's steady rise. As an illustration, the DSHEA of 1994 regulates clinical nutrition products differently from pharmaceuticals and conventional foods. Commercializing misbranded and contaminated products is also prohibited since it could have a negative effect on the outlook for the sector globally.

Specialized Formula Medical Nutrition Market Regional Insights

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"Asia Pacific to Grow At Maximum CAGR Owing to Growing Elderly Population "

Due to the high prevalence of childhood infectious diseases and vitamin deficiencies, the Asia Pacific market has been expanding significantly. According to the World Hunger statistics, 512 million adults and children—or 12% of Asia's total population—consume relatively few calories in the region. The market would develop during the assessment period as a result of a growing elderly population who are more susceptible to various chronic conditions.

Through 2027, the North American clinical nutrition industry is predicted to increase significantly. The high prevalence of chronic diseases among the senior population and the knowledge of artificial nutrition support are to blame for this. According to estimates from the Alzheimer's Association from 2021, there were around 6.2 million Americans 65 and older who had Alzheimer's dementia. Evidence-based clinical nutrition treatment has become an important medical strategy to address these patients' dietary demands.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

LIST OF TOP SPECIALIZED FORMULA MEDICAL NUTRITION COMPANIES

• B. Braun Melsungen (Germany)
• Nestle (Switzerland)
• Danone (France)
• Haisco Pharmaceutical (China)
• Kelun Group (China)
• Perrigo Company (Ireland)
• Baxter International (U.S.)
• Victus (U.S.)
• AYMES International (U.K.)
• Fresenius Kabi (Germany)
• Ajinomoto Cambrooke (U.S.)
• Kate Farms (U.S.)
• Abbott Laboratories (U.S.)
• NUTRICION MEDICA (U.S.)
• Medtrition, Inc. (U.S.)
• Mead Johnson & Company (U.S.)
• Meiji Holdings (Japan)

REPORT COVERAGE

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global acrylic yarn market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.