Global Clinical Nutrition Market Report, published by Variant Market Research, forecast that the global market is expected to reach$68.6 billion by 2024 from $41.5 billion in 2016; growing at a CAGR of 6.5% from 2016 to 2024. Clinical nutrition products include clinical food & many dietary supplements which are primarily used in treatment of nutritional or eating disorders, metabolic syndromes, and other conditions. Clinical nutrition products are considered mostly as pharmaceuticals, delivered over parenteral & feeding. Increasing geriatric population with weak digestive systems, loss of appetite, and chronic diseases primarily drives the growth of the clinical nutrition market.
"Clinical Nutrition Market (By Product: Infant Nutrition, Enteral Nutrition, and Parenteral Nutrition; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
High birth rate & growing number of premature births to drive the growth ofthe clinical nutrition market
The factors supporting growth of the clinical nutrition market are high birth rate & growing number of premature births, rising population of baby boomers, increasing numbers of lifestyle related diseases, and rising number of sufferers of receiving malnutrition treatment. However, lack of receptiveness about clinical nutrition may act as a restraint for the growth of the market. Moreover, growing adoption of clinical nutrition products would provide several growth opportunities for the market in the future.
Product and geography are the major segments of the global clinical nutrition market. By product, market is bifurcated into infant nutrition, enteral nutrition, and parenteral nutrition. Further, infant nutrition includes milk-based, soy-based, probiotic/prebiotic, organic, and other infant nutrition. The market is categorized by enteral nutrition into standard, and chronically ill. Based on geography, the global clinical nutrition market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
North America is further bifurcated in U.S. and Rest of North America whereas Europe segment consist of UK, Germany, and Rest of Europe. Asia-Pacific is segmented into China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Infant nutrition accounted for the largest market share in the product segment
Global Clinical Nutrition Market, By Product
Infantnutrition accounted for the largest market share in 2016, and are expected to continue its dominance during the forecast period 2016 – 2024, owing to increased premature births, increasing disposable income, high demand and acceptance of infant nutrition due to changing lifestyle in the emerging countries. Enteral nutrition accounted for the second largest market share in 2016.
Asia-Pacificdominated the global market with highest market share over the forecast period
GLOBAL CLINICAL NUTRITION MARKET SHARE BY GEOGRAPHY, 2016 (%)
Asia-Pacific dominated the global clinical nutrition market with largest market share of 40.4% and fastest CAGR in 2016, and expected to continue the trend during the forecasted period, owing to emergent healthcare infrastructure, growing number of chronic diseases, and rising disposable income of the people. Europe accounted for the second largest market share in 2016.
The key players operating in the market are Abbott nutrition Inc., Hero Nutritional Inc., Ajinomto Co. Inc., Perrigo Company Plc., Danone Baby and Medical Nutrition BV, Fresenius Kabi AG, Gentiva Health Services Inc., Nestle SA, Pfizer Inc., and Baxter International Inc., among others.