India Medical Nutrition Market, By Nutrition Type (Proteins, Carbohydrates, Multi-vitamins, 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) and By Distribution Channel(Hospitals, Home Care Settings, Long Term Care and Ambulatory Surgical Centers) is estimated to be valued at US$ 466.5 Million in 2023 and is expected to exhibit a CAGR of 8.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The India medical nutrition market is expected to witness significant growth over the forecast period owing to rising healthcare expenditure and increasing adoption of digital healthcare in India. Healthcare expenditure in India is expected to rise substantially, growing 3x to reach US$ 372 billion by 2022 from US$110 billion in 2014, according to the India Brand Equity Foundation. This rising healthcare expenditure is anticipated to drive demand for medical nutrition products. Furthermore, adoption of digital healthcare is growing rapidly in India, supported by initiatives such as the National Digital Health Blueprint. Digital health platforms collect and analyze patient data to provide personalized nutrition recommendations and treatment plans, thereby increasing access to medical nutrition. Additionally, the outbreak of the COVID-19 pandemic has highlighted the importance of maintaining good nutrition and immunity, raising awareness about specialized nutrition products.
India Medical Nutrition Market– Impact of Coronavirus (COVID-19) Pandemic
The Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) infection, which initially surfaced in Wuhan (province of Hubei, China) in the final months of 2019, has been dubbed "coronavirus disease 2019" or COVID-19 by the World Health Organization (WHO). The economies, social norms, and healthcare systems of every nation on the planet were severely harmed by this virus' rapid spread and devastating effects.
There were three main ways that COVID-19 influenced the economy: directly by impacting supply and demand, indirectly by disrupting distribution networks, and economically by having an effect on businesses and financial markets. Due to the shutdown, various nations, including Brazil, China, India, and others, experienced issues with the transit of goods from one location to another.
COVID-19 had a mixed impact on the India medical nutrition market owing to the COVID-19 pandemic prompted a rapid restructuring of healthcare activities, resulting in limited access to clinics, disruptions in early detection, and changes in treatment plan for various types of cancer. In the first year of the COVID-19 pandemic, a delay in sarcoma diagnosis but not in the initiation of treatment was observed.
India Medical Nutrition Market: Key Developments
In September 2022, Abbott, a company developing innovative and science-based nutrition products, announced the launch of Similac GainSchool, the first and only milk formula with the PRODI-G Nutrient System and an exclusive blend of five different human milk oligosaccharides (HMOs) to support better brain connections, higher IQ, and stronger immunity.
In April 2022, Fresenius Kabi Ltd., a global healthcare company, announced the launch of its UK and ROI Enteral Nutrition Product App. The Enteral Nutrition Product App makes it easier to access detailed product information and includes a quick comparison tool to compare nutritional values against reference nutrient intakes.
In March 2022, ByHeart, the next-generation baby nutrition company, announced the launch of its highly anticipated infant formula for babies and parents, which includes benefits such as easy digestion, less spit up, and immune, gut, and cognitive development.
In February 2022, Guardion Health Sciences, Inc., a nutrition company that develops clinically supported nutrition, medical foods, and supplements, announced the launch of Viactiv Omega BOOST gel bites. The 1,200 mg Omega-3 gel bites are designed to provide total body support, including cardiovascular, joint, brain, and eye health.
Browse 53 Market Data Tables and 49 Figures spread through 208 Pages and in-depth TOC on “India Medical Nutrition Market”- Forecast to 2030, India Medical Nutrition Market, India Medical Nutrition Market, By Nutrition Type (Proteins, Carbohydrates, Multi-vitamins, 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) and By Distribution Channel(Hospitals, Home Care Settings, Long Term Care and Ambulatory Surgical Centers)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-medical-nutrition-market-4511
Key Takeaways of the India Medical Nutrition Market:
- The India medical nutrition market is expected to exhibit a CAGR of 8.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the India medical nutrition market.
- Among indication, the cancer segment is expected to hold a dominant position in the India medical nutrition market during the forecast period, and this is attributed to the increasing prevalence of disease. For instance, in 2022, as many as 14,61,427 cancer cases were registered. Among states, Uttar Pradesh topped the list with 2.10 lakh new cases, up from 2.01 lakh in 2020. Maharashtra followed with 1,21,717 cases and West Bengal with 1,135,81 thereafter.
- Among region, West India is expected to be the dominant region in the India medical nutrition market, owing to the increasing prevalence of diabetes. For instance, in March 2022, according to an article published by the Indian Journal of Pharmacology, the prevalence of diabetes was significantly higher in urban areas than in rural areas. The prevalence of prediabetes varied across states in India, from 2.4% in Meghalaya to 47.6% in Delhi. The prevalence of chronic diabetes complications ranged from 4.8% to 21.7% for retinopathy, 0.9% to 62.3% for nephropathy, and 10.5% to 44.9% for nephropathy.
- Major 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
