Austria Nutritional Supplements Market Report 2022 to 2030

Austria Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Austria Nutrition and Supplements market will reach a value of $xx Bn from $1.53 Bn in 2022, growing at a CAGR of xx% during 2022-2030. The nutrition and supplements market in Austria is primarily dominated by local players such as Orthomol, Dr. Böhm, and Biogena. The market for nutrition and supplements in Austria is primarily driven by an inclination towards better health infrastructure, government regulations and increasing consumer awareness of health and lifestyle. The Austria nutrition and supplements market in Austria is segmented by Type, Product, application, and Distribution Channel.

ID: IN10ATON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Austria AUTHOR: Dr. Vishwa Modhia

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Austria Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Austria Nutrition and Supplements market will reach a value of $xx Bn from $1.53 Bn in 2022, growing at a CAGR of xx% during 2022-2030.

Austria's undernourishment rates are low in comparison to the global average. In both 2000 and 2016, Austria’s prevalence of undernourishment was measured at 3 % of its population. Austria has a strong wellness culture, which is reflected in the country's nutrition and supplement consumption trends.

Supplements formulated to support the immune system, such as those containing vitamin C, zinc, and probiotics, are popular among consumers. Austria has one of the highest per capita pharmaceutical expenditures in the world. Pharmaceutical sales are expected to reach $9.2 Bn, or $1,033 per capita, in 2021, accounting for approximately 15% of Austria's total healthcare spending of $61.5 Bn. In 2019, Austria's healthcare expenditure was 10.4 % of the GDP, which was higher than the EU average of 9.9 %.

Austria Nutrition and Supplements Market Analysis

Market Dynamics

Market Growth Drivers Analysis

Natural and organic items, including supplements, are becoming more and more popular among Austrian consumers. They are looking for supplements that are free of artificial additives and created with high-quality natural ingredients. In Austria, there has been a rising emphasis on immunological support in the wake of the COVID-19 pandemic. Also gaining in popularity among Austrian customers are sports nutrition products like protein powders and amino acids.

The consumption of nutritional supplements is being driven by an ageing population; by 2030, roughly a quarter of Austrians will be over 65. Almost everyone is covered by social health insurance, which pays for prescription costs with very low co-pays or no charge for people with low incomes. Additionally, there are severe pricing restrictions for reimbursement with Austria's public insurance system along with rising domestic biopharmaceutical production volumes. The market for Austrian nutritional supplements may be driven by these elements.

Market Restraints

When it comes to dietary supplements, Austrian consumers place a high priority on quality and safety. They frequently favour dietary supplements from reputable, well-known companies with a track record of making high-quality goods. These barriers to entry into the Austrian nutrition and supplement sector can prevent new competitors.

Competitive Landscape

Key Players

Biogena (AUT)
Dr. Böhm (AUT)
Orthomol (AUT)
ZeinPharma (AUT)
Dr. Niedermaier (AUT)
GNC
GlaxoSmithKline

Healthcare Policies and Reimbursement Scenarios

The Federal Ministry of Labor, Social Affairs, Health, and Consumer Protection oversees food supplement regulation in Austria. PHARMIG and the Austrian Agency for Health and Food Safety (Austrian Association of Pharmaceutical Enterprises). The Ministry is in charge of making sure that food supplements are secure, accurately labelled, and do not include incorrect information.

In Austria, health insurance is managed by Social Insurance Institutions (Sozialversicherungsträger). These institutions are responsible for providing health insurance coverage to eligible individuals and managing reimbursements for medical treatments and services, including prescription medications. When it comes to reimbursement for dietary supplements, the rules are similar to those for prescription medications. In some cases, a doctor may prescribe a dietary supplement as part of a medical treatment plan, and the cost of the supplement may be covered by health insurance, depending on the individual's insurance policy.

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.