by These nutrition products play a vital role in helping diabetes patients manage their blood glucose levels through diet. The demand for diabetes-specific nutrition products is growing owing to the rising prevalence of diabetes across the globe. The global diabetes population has doubled since 1980 and is expected to reach 642 million by 2040. Nutritious diets are crucial in diabetes management as they not only help control blood sugar levels but also reduce the risk of diabetes-related complications.
The Global diabetes nutrition market is estimated to be valued at US$ 6588.59 Mn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the diabetes nutrition market are Actavis, AbbVie Inc., Astellas Pharma Inc., Cara Therapeutics, EPI Health LLC, Galderma Laboratories LP, Ocera Therapeutics Inc., and Pfizer Inc., Sanofi, Trevi Therapeutics. These players are focusing on developing innovative diabetes-specific nutrition products and adopting expansion strategies to strengthen their market position.
The rising healthcare expenditure on Diabetes Nutrition Market Size and growing awareness regarding nutrition management of diabetes present significant growth opportunities for players in the market. Furthermore, technological advancements in terms of new product formulations that mimic natural sugars and provide sustained energy are expected to drive the adoption of nutrition products in diabetes care.
In terms of technological advancement, continuous glucose monitoring systems have allowed diabetes patients to better track their blood glucose levels in real-time and make informed food choices. This has helped increase the demand for nutrition products suitable for different blood glucose levels.
Market drivers
Increasing global prevalence of diabetes: The rapidly growing diabetic population worldwide is the key driver for the diabetes nutrition market. As per International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and this figure is expected to rise to 643 million by 2030 and 783 million by 2045.
Rising healthcare expenditure on diabetes management: With the increasing financial burden of diabetes on patients and governments, more money is being spent on effective management through diet, medication, and self-monitoring devices. According to International Diabetes Federation, an estimated USD 966 billion was spent globally on diabetes healthcare in 2021.
Current challenges in Diabetes Nutrition Market
The diabetes nutrition market is facing several challenges currently. Managing diabetes requires constant monitoring of food intake and insulin levels. This makes leading a normal daily life very difficult for many patients. Lack of awareness about nutritional diet plans suitable for diabetics is another major issue in developing countries. Affordability of prescribed diabetic food products and supplements is challenging for people with low income levels. Advanced food products tailored to individual diabetic conditions require more research and clinical validation.
SWOT Analysis
Strength: High growth forecasts driven by the rising global diabetes prevalence rates. Growing awareness regarding diabetes management through nutritional plans.
Weakness: Limited product choices tailored to specific diabetes types. High costs affecting affordability of prescribed nutrition products.
Opportunity: Untapped developing country markets with large diabetes patient populations. Scope for new product innovation through ongoing research.
Threats: Stringent regulatory approvals delaying new product launches. Intense competition from alternative treatment methods and therapies.
Geographical Regions
North America currently holds the largest share in the diabetes nutrition market in terms of value, owing to the high penetration of prescribed nutritional management plans. Availability of advanced food products and aggressive marketing strategies by key players also contribute to the regional dominance.
The Asia Pacific region is expected to witness the fastest growth during the forecast period. This can be attributed to rapidly growing diabetes patient counts coupled with rising disposable incomes, especially in developing nations like India and China. Favorable government support for diabetes awareness programs will further aid the market expansion across Asia Pacific.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
