PUNE, India, June 5, 2019 /PRNewswire/ -- Growing rates of chronic diseases in developed as well as developing countries is expected to drive the global clinical nutrition market. The clinical nutrition market is estimated to reach a market value of US$ 55,014.4 million in 2019 and it is expected to reach US$ 98,520.0 million by 2027, growing at an estimated CAGR of 7.6% over the forecast period.
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The need to provide continuous care to elderly population generates demand for various clinical nutrition products. Geriatric population having eating and digestive disorders is a major consumer base of clinical nutrition products worldwide. With rapid expansion of elderly population pool, the demand for enteral and parenteral nutrition will only increase in the coming years. Countries such as U.S., Japan and other industrialized nations are having a large number of baby boomers; in fact, it is estimated that elderly population in U.S. will be more than children population in the near future.
Increasing incidences of respiratory disorders, cardiovascular diseases and other chronic ailments will result in more and more adoption of nutritional products, which will thus propel market growth. Industry expansion is also attributed to rising average household income in countries such as India and China. The infant nutrition market is majorly driven by increasing births, pre-mature and pre-term births. The need to provide external nutrition to premature babies attributes to a rising demand for infant clinical nutrition products. Moreover, infant nutrition such as baby milk formula is gaining rapid popularity in emerging economies. With changes in mother's lifestyle in developing countries, the demand for milk formulas and other infant nutrition products is driving the infant nutrition industry growth.
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The detailed research study provides qualitative and quantitative analysis of global clinical nutrition market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- Infant nutrition market segment held more than 50% of market share in 2018 and is estimated to grow at CAGR of above 9% during the forecast period. Infant nutrition market growth is attributed to increasing adoption of milk formulas in developing countries. A large proportion of demand for infant products comes from China.
- The parenteral nutrition market valued over US$ 5 billion in 2018 and is estimated to grow with CAGR of above 10% over the projection timeframe, owing to the need to provide nutrition to patients with enfeebling diseases and growing geriatric population base. Population suffering from short bowel syndrome, ischemic bowel diseases and GI track disorders are major consumer of paternal nutritional products.
- Population suffering from such diseases require continuous administration of external nutritional fluids. More incidences of these disease will result in more demand for parenteral nutrition.
- Children clinical nutrition market held the largest share in the total industry valuation. Consumption of infant nutrition largely attributes to children nutrition dominance in the industry; moreover, disease or disorder specific nutrition for children also contributes to market growth.
- Asia pacific clinical nutrition market held the largest market share in the industry. Presence of large geriatric population, high and increasing birth rates and improving lifestyle and income will drive industry growth in this region. As estimated, the market should grow with a CAGR of over 10% over the forecast period.
- Key industry participants in global clinical nutrition market are Fresenius Kabi, Abbott Laboratories, B.Braun, Baxter, Danone, Mead Johnson, Nestle, Perrigo among others.
- Partnership, collaboration, expansion and acquisition are some of the strategies adopted by companies to expand their reach and gain competitive advantage.
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- By Product
- Infant nutrition
- Milk formulas
- Soy formulas
- Organic formulas
- Enteral Nutrition
- Standard composition
- Disease specific composition
- Parenteral nutrition
- Amino acids
- By Consumer
- By Geography
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia)
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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