Increase in prevalence of swallowing disorders, technological advancement in the supplement formulation, and rise in awareness about dysphagia drive the growth of the dysphagia supplement market.
PORTLAND, Ore., Nov. 6, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Dysphagia Supplement Market by Type (Powder Thickener, Instant Food, Ready-to-drink Thickened Beverages, and Others) and Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, dysphagia supplement industry was estimated at $1.4 billion in 2022, and is anticipated to reach $2.3 billion by 2032, registering a CAGR of 4.7% from 2023 to 2033.
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Prime determinants of growth
Increase in the prevalence of dysphagia and rise in awareness about dysphagia drive the growth of the dysphagia supplement market. However, availability of alternative treatment options is hampering the dysphagia supplement market growth. On the contrary, increase in geriatric population more susceptible to develop dysphagia and technological advancement in the supplement formulation are expected to offer remunerative opportunities for the expansion of the dysphagia supplement market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$1.4 billion |
|
Market Size in 2032 |
$2.3 billion |
|
CAGR |
4.7 % |
|
No. of Pages in Report |
224 |
|
Segments covered |
Type, Distribution Channel, and Region |
|
Drivers |
Increase in prevalence of dysphagia Rise in awareness about dysphagia |
|
Opportunity |
Surge in geriatric population |
|
Restraint |
Availability of alternative treatments |
Economic Downturn Analysis: Impact of Recession in 2023 on the Dysphagia Supplement Market
- The dysphagia supplement market is driven by surge in prevalence of swallowing problems, and increase in awareness about dysphagia and its treatments.
- However, increased manufacturing and operating costs, shortage for raw materials, and fluctuations and adverse movement in shipping cost impact the dysphagia supplement market growth.
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The powder thickener segment to maintain its leadership status throughout the forecast period
Based on type, the powder thickener segment held the highest market share in 2022, accounting for nearly three-fifths of the dysphagia supplement market revenue, owing to increase in use of powder thickeners as it is easy to carry and cost effective as compared with other supplements. However, ready-to-drink thickened beverages is projected to attain the highest CAGR of 5.3% from 2023 to 2032, owing to availability of wide flavor options and surge in prevalence of dysphagia.
The hospital pharmacies segment to maintain its leadership status throughout the forecast period
Based on distribution channel, the hospital pharmacies segment held the highest market share in 2022, accounting for two-fifths of the dysphagia supplement market revenue, owing to surge in number of people taking dysphagia treatment from hospital pharmacies. However, online pharmacies segment is projected to attain the highest CAGR of 5.3% from 2023 to 2032, owing to availability of variety of supplement on online channels at a discounted price.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for two-fifths of the global dysphagia supplement market revenue, owing to high prevalence of dysphagia and strong presence of market key players. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2023 to 2032, owing to development of healthcare industry, increase in awareness of dysphagia, and increase in adoption of dysphagia supplement.
Leading Market Players: –
- Medtrition Inc.
- Saraya Co. Ltd.
- SimplyThick LLC.
- Nestle S.A.
- Danone S.A.
- KENT Corporation
- Flavour Creations
- Hormel Foods Corporation
- Fresenius SE and Co. KGaA
- Abbott Laboratories
The report provides a detailed analysis of these key players of the dysphagia supplement market. These players have adopted product upgrade/development strategy to increase their market share and maintain dominant shares in the different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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