Medical Nutrition Market in Vietnam Like to Hit $373.05 Million by 2027
Pune, Maharashtra, India, February 25 2021 (Wiredrelease) Allied Analytics –:Increase in incidence of chronic diseases and rise in the geriatric population across Vietnam have boosted the growth of the Vietnam medical nutrition market. However, lack of awareness of nutrition problems among Vietnamese hampers the market growth. On the contrary, surge in medical tourism in Vietnam is expected to create lucrative opportunities for the market players in the future.
As per the report published by Allied Market Research, the Vietnam Medical Nutrition Market was pegged at $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.
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Due to the Covid-19 outbreak, several countries imposed a lockdown that resulted in a suspension of public transport. This hampered international import-export, disruption of the supply chain, and supply of raw materials. Moreover, Vietnam has imposed strict quarantine measures during the initial phase of lockdown. During this phase, medical nutritionists and patients used mHealth technology to communicate as clinics were closed.
The Vietnam medical nutrition market is classified on the basis of product, application, distribution channel, and end users. Based on product, the market is divided into infant nutrition, parenteral nutrition, and enteral nutrition. The infant nutrition segment held the lion’s share in 2019, accounting for nearly three-fourths of the total revenue of the market. In addition, the segment is expected to reach 5.6% during the forecast period.
On the basis of application, the market is classified into diabetes, cancer, gastrointestinal diseases, chronic kidney disease, chronic liver disease, intensive care, chronic obstructive pulmonary disease, and others. The chronic kidney disease segment is anticipated to portray the highest CAGR of 6.3% from 2020 to 2027.
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Based on distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. The drug store and retail pharmacies segment held the largest share in 2019, accounting for more than two-thirds of the market. However, the online pharmacies segment is estimated to register the highest CAGR of 6.2% during the forecast period.
The Vietnam medical nutrition market report includes an in-depth analysis of the major market players including Abbott Laboratories, Baxter International Inc., B. Braun Melsungen AG, and Fresenius SE & Co. KGaA.
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