Market research Future (MRFR) believes that the Clinical Nutrition Market can perform significantly and advance at a noteworthy rate between 2018 and 2027 (analysis period). MRFR suggests that the steadily increasing number of chronic disease cases, rapid use of modern technologies and the high consumption of pediatric clinical nutrition products could propel the market growth enormously during the evaluation period.
In general, the COVID-19 outbreak and the strict lockdown worldwide have been unfavorable for various industries. The novel coronavirus, however, has boosted the growth of the clinical nutrition market. Patients suffering from SARS-CoV-2 are dealing with nutrition deficiency, which necessitates the use of clinical nutrition products. From the advent of the COVID-19 pandemic, nutritional supplements have been in huge demand, which could also bolster the global market’s growth in the years ahead.
Escalation in Chronic Disease Cases to Foster Growth
Escalating number of individuals worldwide afflicted with chronic ailments like diabetes and cancer combined with the considerable growth in the geriatric populace will foster the clinical nutrition market’s growth over the years to come. The surge in chronic disorders has induced the need for clinical nutrition prescriptions since those suffering from the said conditions have limited essential nutrients.
Furthermore, the burgeoning obese population base in view of unhealthy eating habits and lack of exercise can propel market growth. Elderly people generally lose their appetite or have digestive issues, which boosts the need for nutrient administration via enteral or parenteral route. This factor is anticipated to favor the global market in the ensuing years. Additionally, the significant increase in premature birth and in general, the significant birth rate across the globe could also benefit the global market. Given the rising awareness and well-equipped facilities, there has been a decline in premature death rates, which again induces substantial market growth.
Pediatric Nutrition Category to Emerge as a Huge Opportunity
In the pediatric nutrition category, heightened requirement for clinical nutrition has emerged as a huge opportunity for top players. Other than this, the rising preference for home healthcare and the increased demand for related nutritional products could also create favorable opportunities for the leading vendors in the near future.
Low Awareness Level in Developing Countries to Restrain Growth
Lower awareness level in developing countries compared to developed economies is a major restraining factor in the global market.
Growth in Strict Government Regulations to be a Major Challenge
The surge in various government regulations in Europe, the U.S., and Asia Pacific and their growing strictness with regard to quality and other parameters are proving to be a massive challenge for clinical nutrition product manufacturers.
Infant Nutrition Grabs the Leading Position
Infant nutrition, parenteral nutrition and enteral nutrition are the key types of clinical nutrition considered in the report. The infant nutrition has secured the top position and can advance at a significant pace in the years ahead. Out of all the infant nutrition products, the milk-based segment has captured the biggest share in the market, thanks to the growing base of working mothers and the steady rise in urbanization across various countries.
APAC Stands as the Top Performing Market
APAC has remained the market leader since 2014; with Japan emerging as the top performer in the region. The Japanese market is in the lead thanks to the burgeoning elderly population base and the accelerated cases of chronic disorders such as cancer and diabetes mellitus owing to dietary changes. The increasing efforts by associations like the Japan Society of Nutrition and Food Science (JSNFS) trying to promote public health and spread awareness regarding clinical nutrition can also favor the market growth in Japan over the review timeframe. The clinical nutrition market in China benefits primarily from the mounting cases of metabolic ailments and the soaring number of players gaining entry into the country.
North America Emerges as the Third Most Lucrative Market
In 2014, the third spot in the global market was procured by North America, seizing a share of 23.1% the same year. The US is currently in the lead and the country-based market could attain a better position in the coming years, owing to the high consumer awareness regarding wellbeing and health, and the rising need to cut down significant healthcare costs. The escalating birth rate in North America also bolsters the market demand in the region. Over the years, the demand for home healthcare has risen significantly, in view of the expanding geriatric population, which is expected to be a primary growth booster in the following years.
Players Focus on Developing Nutritional Solutions with Added Features
Most of the firms are focused on competitive strategies such as merger, collaboration, acquisition, and others to garner a higher share in the global market, while also striving to bolster their product range. Escalating awareness with regard to clinical nutrition has boosted the demand for adult and pediatric nutrition formulae, owing to which the players are working on coming up with nutritional solutions that fulfill all the requirements of the target population worldwide.
Baxter International is a well-known vendor in the clinical nutrition industry, known for its extensive product range of essential ingredients required for the development of formulations of various clinical nutrients such as carbohydrates, protein, electrolytes, lipids, vitamins and trace elements.
Frequently Asked Questions (FAQ) :
The increasing numbers of the geriatric populace is the main driver of the Global Clinical Nutrition Market.
High number of premature births, large number of patients requiring malnutrition treatment, and high birth rates are other growth drivers of the Global Clinical Nutrition Market.
The infant nutrition sub-segment can capture the largest share of the Global Clinical Nutrition Market till 2027.
The APAC region can contribute the most to the Global Clinical Nutrition Market from 2016 to 2027.
B. Braun Melsungen AG, Abbott Laboratories, Perrigo Company Plc, GroupeDanone, Hospira, Inc, Fresenius Kabi AG, Mead Johnson Nutrition Company, Nestlé S.A, and Baxter International, Inc, are key players of the Global Clinical Nutrition Market.