Romania Nutritional Supplements Market Report 2022 to 2030

Romania Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Romania Nutrition and Supplements market will reach a value of $xx Bn from $1.106 Bn in 2022, growing at a CAGR of xx% during 2022-2030. The market is primarily dominated by local players such as TIS Farmaceutic, Ac Helcor, and Biovea Romania. The market for nutrition and supplements in Romania is primarily driven by government spending on healthcare, government regulations, and increasing consumer awareness of health and lifestyle. The Romania nutrition and supplements market in Romania is segmented by Type, Product, application, and Distribution Channel.

ID: IN10ROON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Romania AUTHOR: Dr. Vishwa Modhia

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Romania Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Romania Nutrition and Supplements market will reach a value of $xx Bn from $1.106 Bn in 2022, growing at a CAGR of xx% during 2022-30.

The amount spent on government healthcare in Romania, which accounted for 78.5% of the total, is higher than in other Eastern European countries like Russia, Moldova, and Ukraine. Numerous nutritional supplements, including vitamins and minerals, herbal remedies, items for sports nutrition, and functional foods are available on the Romanian market.

In Romania, sports nutrition products like protein powders and energy bars are in higher demand as more consumers participate in physical activity. In Romania, there are many different channels through which supplements are sold, including retail pharmacies, online retailers, supermarkets, and specialty health stores.

Market Dynamics

Market Growth Drivers

In 2021, Romania's healthcare expenditures per capita were among the lowest in the EU, coming in at $16.7 Bn, or $872.3 per person, and 5.9% of GDP. As a result, more competitors will enter the market and sell goods at competitive prices. Consumer interest in using supplements to maintain health and ward off illness is growing, as opposed to just treating particular medical conditions.

Market Restraints

The absence of high-quality, effective, and safe research done on medicines to support the therapeutic uses listed on the label and to show that side effects are either absent or mentioned. The issue with the nutrition supplement legislation is also concerning in the nations close to Romania, like Moldova, where it is insufficient and poorly formulated, which may be a prerequisite for the irrational use of nutrition supplements.

Numerous businesses have recently been forced to remove their products from the Romanian market, lay off employees, or reduce their operations there due to issues like the claw-back tax and pricing concessions demanded by the National Health Insurance House (CNAS).

Competitive Landscape

Key Players

Biovea Romania (ROU)
Ac Helcor (ROU)
TIS Farmaceutic (ROU)
Fildas Trading (ROU)
Laropharm (ROU)
Nestle
Pfizer
Solgar
Herbalife
GNC
GlaxoSmithKline

Recent Notable Updates

December 2022: The largest food and beverage company in the world, Nestlé, introduces the Resource line to the Romanian market through its Nestlé Health Science Division. This polymeric, complete nutritional diet is advised for malnutrition and/or the risk of malnutrition in oncological diseases, in the treatment of oncological diseases, or associated with other conditions for adults and children, starting at the age of three years.

March 2021: The conditions for the marketing and sale of nutrition supplements are governed by Law No. 56/2021, which was published by the President of Romania. Sanctions are also included in the Law for breaking these rules. Given that they adhere to the Law's requirements and standards as well as the terms of the initial certification, nutrition supplements that were already on the market before the Law went into effect may continue to be sold without the need for a new certification notice.

Healthcare Policies and Reimbursement Scenarios

The Ministry of Health and the National Public Health Institute approve the sale of vitamin and mineral supplements, but the Ministry of Agriculture and Rural Development approves the sale of products containing medicinal and aromatic herbs as well as hive products.

In Romania, the reimbursement policies for nutritional supplements can vary depending on the type of supplement and the medical condition being treated. While some supplements might be covered by the government's healthcare program, others might have to be bought privately. The public healthcare system in Romania covers some necessary medications and medical procedures, but it typically excludes nutrition supplements. But in some circumstances, if a doctor prescribes supplements and they are regarded as a necessary component of the patient's treatment plan, they might be paid for.

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.