The global clinical nutrition market is expected to witness a CAGR of 6.0%
NEW YORK, June 13, 2019 /PRNewswire/ -- Market Overview
The global clinical nutrition market is expected to witness a CAGR of 6.0%. There are certain factors propelling the growth of the market that includes the increasing prevalence of metabolic disorders, high spending on healthcare and the rise of the middle class in emerging economies.
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Over the past decade, the prevalence of metabolic disorders has increased, in terms of raw data. The actual number of patients opting for the diagnosis of metabolic disorders has increased over the last decade, thereby resulting in an increase in the number of patients diagnosed. Thus, with the rising prevalence of metabolic diseases, there is a great opportunity for market players to tap the emerging markets and establish their presence.
It has also been observed that healthcare expenditure continues to grow faster than economic growth in most of the countries, maintaining a trend observed over the decades. Therefore, as healthcare spending increases among major countries of the world, because of its wide applicability, the market is expected to witness high growth.
There are many funding opportunities for clinical nutrition from governments across the globe, including private foundations and the international community. The major funding organizations are - National Institutes of Health, US Department of Agriculture, Robert Woods Johnson Foundation, and Nestle Foundation. These funding opportunities are found propelling the growth of the market.
Scope of the Report
Clinical malnutrition is a disease condition that can be treated only with clinical intervention, through the use of specialized nutrients that are considered as proper medications, rather than as supplements. Clinical nutrition products thus help to keep the patient healthy and aids to improve the metabolic system of the body by providing adequate supplements such as minerals, vitamins, and others. Additionally, the high birth rate and a higher number of premature births also demand advanced clinical nutrition.
Key Market Trends
Oral and Enteral is Expected to Show the Fastest Growth in the Route of Administration
The oral and enteral route of administration accounts for the largest share as they are used the most, followed by a parenteral route. This is mainly because of the additional cost of processing the product/nutrient involved in enteral/parenteral routes.
Therefore like the other routes of administration, physicians also prefer mostly the oral route, as it involves lesser complexities and costs, compared to the other two routes of administration. In addition, in most of the disease conditions like chronic conditions and not acute conditions, the oral route is being preferred thereby driving the overall market.
Asia-Pacific holds the Fastest Growth and is Expected to Follow the Same Trend over the Forecast Period
Asia-Pacific has the highest growth in comparison to the other regions in the forecast period mainly due to high levels of malnutrition, and the presence of severe chronic diseases, in the region. Thus due to the increased metabolic disorders and rising income inequality in various countries, the region is also expected to witness robust growth over the forecast period.
Competitive Landscape
The industry players are found focusing on expansion through various inorganic strategies such as acquisition, merger, strategic collaboration, and others to gain significant market share and to strengthen their product portfolios. Thus the growing awareness about clinical nutrition has boosted the demand for pediatric, as well as adult nutrition formulae.
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