April 20, 2020
As per the report titled ‘Clinical Nutrition Market Size By Product, Parenteral Nutrition , Enteral Nutrition, By Consumer, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global clinical nutrition market is projected to cross USD 87,530.7 million by the year 2025.
Rising prevalence of chronic diseases such as diabetes and cancer, alongside growing number of preterm births are driving the growth of global clinical nutrition market. Increasing inclination towards home enteral nutrition formulae in tandem with favorable reimbursement scenario for enteral devices is augmenting the market growth.
Several government initiatives to curb malnutrition among children along with rising birth rates in developing nations such as India is rendering a positive impact on the market outlook. Increasing baby boomer population suffering from digestive problems is bolstering the demand for external supply of nutrition through parenteral or enteral routes, hence, boosting the industry growth. On the contrary, lack of awareness regarding clinical nutrition formulae in Latin America and strict regulations in developed nations such as the U.S. will hinder the market growth in the coming years.
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Based on the product, enteral nutrition segment is estimated to expand with 6% CAGR during the forecast period, owing to technological advancements in pumps, tubing feeds, and access devices for enteral nutrition. Increasing incidences of gut dysfunction and neurological/mechanical dysphagia is augmenting the demand for enteral nutrition supply.
Speaking of the consumer, market share from child segment was worth USD 31.6 billion in 2018 and is expected to see modest gains during the analysis period. High birth rates in developing nations of Asia Pacific and Africa, in consort with considerable rise in preterm births are contributing to the segment growth. Rising preference for milk-based infant nutrition formulae and surge in number of children suffering from malnutrition in countries like India are boosting the demand for clinical nutrition among children.
Considering the geographical landscape, UK clinical nutrition market is anticipated to grow considerably owing to increasing preterm births and high prevalence of chronic diseases in the region. Adoption of home enteral feeding devices and rising elderly population base are other factors supporting the regional market expansion.
Meanwhile, Brazil clinical nutrition is slated to grow with 8.8% CAGR during the study phase, owing the presence of large pool of patients in the region. Initiatives by Brazilian Society for Food and Nutrition (SBAN) towards promotion of clinical nutrition formulae will boost the regional outlook.
Major players in clinical nutrition market are Abbott Laboratories, Baxter International Inc., B. Braun Melsungen AG, Danone, Hospira, Fresenius Kabi, Mead Johnson, Perrigo, and Nestle.
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