According to a new report published by Allied Market Research, titled, “Vietnam Medical Nutrition Market by Product, Application, Distribution Channel, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the Vietnam medical nutrition market generated $270.16 million in 2019, and is projected to reach $373.05 million by 2027, growing at a CAGR of 5.1% from 2020 to 2027. The infant nutrition segment accounted for more than half of the Vietnam medical nutrition market share in 2019.
Medical nutrition categories into infant nutrition, parenteral nutrition, and enteral nutrition. Infant nutrition may be used instead of breast milk depends on the fact that women cannot breastfeed or their different lifestyle choices. In addition, babies may have a reason to not consume breast milk either they are premature or may have an allergy to breast milk. Parenteral nutrition (PN) is the nourishing of nutritional products to a patient intravenously. The patient who receives a nutritional formulas that contain nutrients such as glucose, amino acids, lipids, salts, vitamins, and dietary minerals is called total parenteral nutrition (TPN) or total nutrient admixture (TNA) when no significant nutrition is obtained by other routes. One of the other method is enteral nutrition which include oral powder or tube feeding where nutrition taken through a tube that goes directly to the stomach or small intestine. It involves the esophagus, stomach, and small & large intestines.
Vietnam medical nutrition market is expected to register substantial growth in the future, owing to rise in incidence of chronic diseases and surge in geriatric population across Vietnam. However, lack of awareness of nutrition problems among Vietnamese is projected to hamper the market growth during the forecast period. Conversely, rise in medical tourism in Vietnam is expected to offer remunerative opportunities for market players.
By product, the Vietnam medical nutrition market is segmented into infant nutrition, parenteral nutrition, and enteral nutrition. The parenteral nutrition is further categorized into dextrose based products, fat based products, additives based products, and Others. The enteral nutrition is further categorized into standardized, semi elemental, and specialized.
By distribution channel, the Vietnam medical nutrition market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is expected to exhibit the highest CAGR during the forecast period owing to rise in disposable income and increase in awareness among people about the available options of medical nutrition at a discounted price.
The report provides a comprehensive analysis of the key players operating in the Vietnam medical nutrition industry, namely, Abbott Laboratories, Baxter International Inc., Baxter International Inc., and Fresenius SE & Co. KGaA. The other players (not profiled in the report) includes B. Braun Melsungen AG, Mead Johnson Nutrition Co., Danone Nutricia, Nestle S.A., Bayer AG, Pfizer Inc., Sanofi S.A, GlaxoSmithKline Plc, Perrigo Company Plc, and others.
Key Findings Of The Study
- By product, the infant nutrition segment is expected to experience rapid growth in the market, registering a CAGR of 5.6% from 2020 to 2027.
- By application, the diabetes segment was the major revenue contributor in 2019, and is anticipated to continue the trends during the forecast period.
- By distribution channel, the drug store & retail pharmacies segment hold the largest share of the Vietnam medical nutrition market in 2019.
- By end user, public hospitals generated the highest revenue in the Vietnam medical nutrition industry in 2019.
- By parenteral nutrition, dextrose based products is estimated to grow at a CAGR of 4.6% during the forecast period.