India Medical Nutrition Market Poised For Strong Growth During 2024-2031

India Medical Nutrition Market Demand


 The medical nutrition market in India is estimated to witness high growth owing to rising prevalence of chronic diseases. Medical nutrition products provide balanced nutrition and help manage various health conditions. The market comprises dietary supplements and enteral formulas that cater to nutrition needs of patients suffering from chronic kidney disease, diabetes, cancer and more.

The global India medical nutrition market is estimated to be valued at US$ 4.3 Bn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the India medical nutrition market 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 market provides opportunities for product innovation and development of specialized formulas to cater to diverse health conditions. Rising health awareness, growth of nutraceuticals industry and proliferation of e-commerce are expected to drive the market expansion globally over the forecast period.

Market Drivers

The main driver propelling the growth of India Medical Nutrition Market Demand is increasing incidence of chronic and lifestyle diseases. As per WHO, non-communicable diseases accounted for 61% of total deaths in India in 2016. Growing elderly population also contributes to high demand as nutritional requirements change with age. Favorable government initiatives to promote healthcare and nutrition are encouraging market players. Moreover, growing health consciousness and willingness to spend on preventive healthcare will continue fueling the medical nutrition market growth between 2024-2031.

PEST Analysis
Political: The medical nutrition market in India is regulated by various government policies and regulations. The government plays a crucial role in ensuring patient access and affordability of medical nutrition products in the country.

Economic: Factors like rising disposable incomes, growing health awareness and healthcare spending are driving the demand for medical nutrition products in India. Availability of subsidized and low-cost variants is also boosting the adoption rate of these products.

Social: With rising lifestyle diseases, growing elderly population and increasing influence of Western lifestyle, Indians are becoming more health conscious and receptive towards preventive healthcare measures like medical nutrition. Adoption of therapeutic medical nutrition products is growing.

Technological: Advancements in formulations, manufacturing processes and delivery formats are improving the efficacy, absorption and convenience of medical nutrition products. This is encouraging compliance with long-term nutrition therapies and boosting the use of these products in clinical nutrition.

The largest concentration of India Medical Nutrition Market Regional Analysis is seen in Western and Southern regions of the country. States like Maharashtra, Karnataka, Tamil Nadu and Gujarat account for a significant share of national consumption of medical nutrition products, driven by high healthcare expenditure as well as urbanization and lifestyle changes in these regions.

The Northeastern region is poised to emerge as the fastest growing market for medical nutrition in India over the forecast period. Driven by rising health awareness and increasing adoption of preventive healthcare measures in the seven sister states of Northeast India, consumption of products like infant nutrition, pediatric nutrition, renal nutrition and diabetes care is growing at a rapid pace. Initiatives by both government and private players to strengthen healthcare infrastructure and address nutritional deficiencies are also contributing to market growth.

Get More Insights on- India Medical Nutrition Market

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

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