NEW YORK, Aug. 26, 2014 /PRNewswire/ -- China has yet to claim first or second billing in healthcare product markets, despite its roughly 1.4 billion residents. But the clinical nutrition market is an exception, according to healthcare market research firm Kalorama Information. China's potential is already evident in clinical nutrition with Kalorama Information estimating it to be the second largest national market. The finding was made in Kalorama Information's new report The World Market for Clinical Nutrition Products (Infant, Parenteral and Enteral Foods), 6th Edition.
The report can be found at: http://www.kaloramainformation.com/redirect.asp?progid=86586&productid=8288398.
Clinical nutrition products include infant formulas (powdered, liquid concentrate, ready-to-drink), enteral nutrition formulas and beverages (ingested or tube fed liquids), and parenteral nutrition products (delivered intravenously). China's 65-and-over population, a group upwards of 130 million people, is increasing at a rate of 3.5% annually. In 2014, this large aging population was partly responsible for the growing parenteral nutrition market. Baxter is one of many companies continuing to invest in China's parenteral nutrition market. Market growth for parenteral nutrition products in China is projected to average around 10% annually in coming years.
"Greater and informed utilization of standard and specialized enteral nutrition products in China is expected to drive market growth," said Melissa Elder, Kalorama clinical nutrition analyst and the author of the report "Companies such as Fresenius have invested in China with a focus on product education and Mead Johnson has invested in added sales staff to China in an effort to increase presence in the country."
According to Elder, Infant nutrition is the largest clinical nutrition market segment in China. Major international formula brands have a strong presence in the country where consumers remain wary of domestic and less-known brands following a melamine scandal and other food quality incidents. Only 80 out of the approximately 130 domestic formula manufacturers in China will remain in business after failed quality control checks or failed permit applications to the China Food and Drug Administration (SFDA). The remaining producers are expected to consolidate to 10-15 larger domestic companies by the year 2015. Also in November 2013, the SFDA announced that it was prohibiting the production of infant formula milk-based powder through contract, OEM and sub-packaging. Domestic formula industry consolidation is expected to strengthen the hand of domestic manufacturers against international giants such as Danone, Mead Johnson, Nestle, and Abbott Laboratories.
Annual growth in the Chinese enteral nutrition market is projected above 10% with significant market development and penetration into the expanding healthcare system still possible. China's health professionals remain inexperienced with enteral nutrition versus standard external methods.
The report The World Market for Clinical Nutrition Products (Infant, Parenteral and Enteral Foods), 6th Edition contains breakouts for major types of clinical nutrition and for regional markets of clinical nutrition. Find this report along with other industry leading research from Kalorama Information at: http://www.kaloramainformation.com/.
About Kalorama Information -- Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
SOURCE Kalorama Information