Clinical Nutrition Market will surge at 7% CAGR up to 2024 | Key vendors are Baxter International Inc., Danone, Fresenius Kabi, Hospira, Mead Johnson Nutrition, Nestlé, Perrigo Company plc
Demand for various parenteral and enteral nutrition from growing elderly population will stimulate clinical nutrition market growth over the forecast period. Numerous initiatives undertaken by public as well as private players to create awareness about clinical nutrition will positively impact industry growth.
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Increasing number of premature births requiring supply of essential nutrients will act as high impacting factor on infant nutrition market growth. Growth of home healthcare sector leading to rise in demand for home enteral nutrition formulae coupled with favorable reimbursement policies will propel business growth.
Industry players are focusing on developing nutritional solutions capable of providing appropriate nutrition to adult as well as infant population will favor market growth. However, lack of awareness about clinical nutrition and stringent government regulations in Europe and U.S. will restrain market growth over the coming years.
Infant nutrition segment held largest revenue share in 2016 and the trend is expected to continue over the forecast timeframe, owing to increasing number of preterm births and growing demand for milk based infant nutrition formula. Rising number of children suffering from malnutrition in emerging countries such as China along with frequent introduction of new infant clinical formula in market will favor growth of infant nutrition segment.
Increasing number of cow protein intolerant children and children suffering from hereditary lactase deficiency and galactosemia are generally administered with soy based clinical nutrition formula to fulfil nutritional requirement; this factor will strongly drive soy based infant nutrition segment growth. Moreover, high nutritional content present in soy based infant nutrition solution will propel segment growth over the forecast period.
Adult consumer segment will witness significant growth over the forecast period owing to growing adoption of unhealthy food habits leading to dearth of essential nutrients as well as large patient population suffering from chronic diseases requiring supply of clinical nutrition. Increasing geriatric population base and growing awareness about clinical nutritional products will further propel business growth.
In Asia Pacific region, China held largest market share in 2016 due to high prevalence of chronic diseases as well as substantial number of elderly people suffering from enfeebling condition. Increasing number of preterm births and notable number of malnourished children in the country will stimulate demand for clinical nutrition products over the coming years.
Increasing sales of nutritional supplement in South Africa due presence of associations such as South African Society for Enteral and Parenteral Nutrition which promote clinical nutrition practices will drive clinical nutrition market over the forecast period. Growing adoption of unhealthy food habits resulting in increased incidences of chronic diseases coupled with healthcare infrastructure development of the country will favor industry growth.
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Some of the notable industry players operating in global clinical nutrition market are Nestle, Abbott Laboratories, Perrigo, Danone, Fresenius Kabi, Hospira, Mead Johnson, Baxter and B. Braun. Industry players are focusing on developing new superior products capable of fulfilling nutritional requirement of all population from infant to adult. Moreover, market players are adopting strategies such as merger & acquisition, strategic collaboration and geographic expansion to consolidate their market position as well as strengthen its operational capability.
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