Clinical Nutrition Market Dynamics
Following analysis of the latest Clinical Nutrition Market Trends across the globe, Market Research Future (MRFR) concludes that the Clinical Nutrition Market will project remarkable growth during the forecast period (2016-2027).
Clinical Nutrition Market Growth Drivers and Top Barriers
In the past decade, metabolic disorders have become prevalent across the world like never before. The number of patients going for diagnosis of metabolic disorders has boosted in this period, leading to the rise in the number of patients diagnosed. Therefore, with the growing prevalence of metabolic diseases, great opportunities lie in store for the industry participants to take advantage of the developing markets.
Trade pundits also take note of the rapid surge in healthcare expenditure as compared to the economic growth in various countries. As a result of the increasing healthcare spending in prominent countries around the world, the clinical nutrition market’s chances of witnessing excellent growth in the coming years are high.
Lack of awareness among the general population could work against market growth in the following years. Having said that, with massive funding from governments, including the international community and private foundations, the market will grow without any hiccups. The prominent funding organizations include the US Department of Agriculture, National Institutes of Health, Nestle Foundation, and Robert Woods Johnson Foundation.
Clinical Nutrition Market Opportunities
In the medical nutrition space, enteral nutrition, and oral nutritional supplements (ONS) are enjoying massive growth. In particular, oral nutritional supplements are witnessing major boost with consumers as well as healthcare providers prioritizing health & wellness. Also, rising focus on disease prevention and aging well has led to an increasing trend of ONS consumption.
Sensing these opportunities, players are steering their efforts towards these aspects. To illustrate, NZMP in 2017, created a Medical Nutrition and Healthy Aging division, whereas FrieslandCampina Ingredients had recently become a member of the Medical Nutrition International Industry Association.
Clinical Nutrition Market Segmentation
The Global Market for Clinical Nutrition has been segmented on the basis of product.
According to product, the market can be broken down into infant nutrition, enteral nutrition, and parenteral nutrition based on product. The infant nutrition segment covers the largest share of the market, with the increasing malnourished babies and premature births. In addition, surging number of programs and awareness campaigns by governments as well as organizations will establish the segmental dominance throughout the forecast period. The parenteral nutrition segment’s growth will be the result of the expanding geriatric population as well as the increasing incidences of enfeebling diseases.
Clinical Nutrition Market Regional Outlook
The global market for clinical nutrition is spread across the regions of Europe, Asia Pacific, North America, and the rest of the world (RoW).
Compared to other regions, Asia Pacific is expected to demonstrate the best growth during the evaluation period. The main factors responsible for the market’s prodigious growth include the rising cases of malnutrition paired with the presence of extreme chronic diseases. Hence, with the rise in metabolic disorders and growing income inequality across numerous countries in the region, the regional market can expect a superlative growth in the future as well.
In Europe, the hike in patient pool suffering from chronic conditions like diabetes and cancer along with the expanding geriatric populace favors market growth. The growth in chronic diseases has resulted in the rise in clinical nutrition prescriptions, with patients afflicted with these conditions deprived of certain essential nutrients.
North America was identified as the third-biggest market in 2014, making up 23.1% of the overall market. The United States (U.S.) is the leading country in North America, as a result of high consumer awareness and increasing healthcare spending. Another factor promoting the market growth can be the rising birth rate in the region.
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Clinical Nutrition Market Key Players
The key players that are involved in Global Clinical Nutrition market are Baxter International, Inc, Abbott Laboratories, B. Braun Melsungen AG, Nestlé S.A, GroupeDanone, Mead Johnson Nutrition Company, Fresenius Kabi AG, Hospira, Inc, Perrigo Company Plc and among others.