According to statistics experts, the specialized formula medical nutrition market will register an explosive growth at 6.84% CAGR between 2021 and 2029.
Specialized medical nutrition formulas are carefully composed dietary formulas made to meet specific nutrient requirements of malnourished patients. These formulas can help improve their nutrition outcomes and the overall quality of life.
Researchers tied the increase to the rising number of terminal and chronic illnesses. Namely, malignant cancers, cardiovascular disorders, and chronic pulmonary pathologies like COPD are the leading factors.
These conditions, along with the rising population of the elderly, premature births, and increased demand for home healthcare, are all driving forces for the market expansion.
In 2019 alone, the infant medical nutrition market saw a massive boost due to a large number of preterm births, and the growing trend isn’t going to change soon. Recent technological advancements, hospital infrastructure improvements, and extra care aimed at newborns after delivery are all significant factors contributing to an increase in demand for various medical nutrition products. In other words, they’re the driving force for the specialized formula medical nutrition global market boom.