Clinical Nutrition Market will achieve 7% growth to cross $80 billion by 2024
OCEAN VIEW, Del., Oct. 27, 2017 /PRNewswire-iReach/ -- The Industry growth report " Clinical Nutrition Market By Product [Infant Nutrition (Milk, Soy, Organic), Parenteral Nutrition (Amino Acids, Fats, Carbohydrates), Enteral Nutrition (Standard Composition, Disease Specific Composition)], Regional Outlook (US, Canada, UK, Germany, France, Spain, Italy, Russia, Japan, China, India, Australia, Malaysia, Mexico Brazil, South Africa, UAE, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2017 – 2024" by Global Market Insights, Inc. forecast Clinical Nutrition Market share is anticipated to surpass $80 billion by 2024.
Rising global population, escalating burden of chronic diseases, increasing number of pre-mature deaths and growing inclination towards home healthcare will drive global clinical nutrition market size. Malnutrition is the leading cause of child deaths in most developing countries. Rising metabolic disorders has become a growing public health concern worldwide. Increasing instances of malnutrition coupled with high metabolic disorder prevalence will stimulate growth.
Rapid advances in clinical nutrition design and composition coupled with continuous quality improvement initiatives should expand industry size. Availability of nutritional practice guidelines should improve the delivery of patient nutrition care. Stringent government regulations, lack of uniform reimbursement policies worldwide, market volatility and complexities in patient compliance will deter clinical nutrition market growth.
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Enteral nutrition should witness over 5% CAGR with expectations to surpass USD 20 billion by 2024. Increasing preference for enteral route of food administration coupled with technological innovation for development of novel enteral feeding devices should contribute towards segment growth.
Favourable government initiatives in delivering nutrition services and wide application of clinical nutrition in food industry, pharmaceutical and home healthcare should accelerate business growth. Some of the European countries have launched Fight Against Malnutrition (FAM) program to curb the spread of malnutrition.
Browse key industry insights spread across 140 pages with 115 market data tables & 9 figures & charts from the report, "Clinical Nutrition Market " in detail along with the table of contents:
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APAC accounted for more than 40% industry share, followed by Europe and North America. The regional nutrition market should surpass USD 30 billion by 2024, with infant nutrition holding the significant business share.
Infant applications held more than 50% of clinical nutrition market share and is anticipated to witness more than 9% CAGR over the forecast years. The milk based products should experience a considerable growth owing to improved tolerance and good taste, thus surpassing the market value of over USD 35 billion by 2024.
Parenteral nutrition should witness a considerable growth to reach USD 7 billion. Amino acids held more than 40% parenteral nutrition share as they are essential to achieve balanced body metabolism. Fats will witness a robust growth of over 6%.
China clinical nutrition market accounted for over 35% of regional industry size. Increasing population, high birth rate coupled with growing burden of chronic and metabolic disorders should drive business growth. Rapid economic development, improved healthcare systems and increasing disposable income levels will also accelerate industry growth.
UK held over 17% of Europe clinical nutrition market share owing to the rising healthcare spending across the region. Rising incidence of metabolic disorders, growing geriatric population, and increasing patient income levels should stimulate business growth. Emerging economies in Europe are expected to witness a higher growth as compared to industrialized economies over the forecast years.
Latin America clinical nutrition market should witness over 8% CAGR with the regional industry size set to exceed USD 6 billion by 2024. Brazil accounted for more than 45% of regional business share while Mexico is anticipated to witness over 9% CAGR over the coming years. Rapid economic growth, improvements in healthcare facilities, increasing incidence of malnutrition and high prevalence of chronic diseases will propel regional growth.
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Few players dominate clinical nutrition market such as Abbott Laboratories, Nestle, Danone, Fresenius Kabi, Hospira, Perrigo, B Braun Melsungen, Baxter International and Mead Johnson. Product development, strategic alliances and consolidating across the distribution channel remain key commercial strategies adopted by industry participants. Industry participants are also expanding their operations in emerging economies to gain extended market access and strengthen their market position.
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