Elderly Nutrition Market to Register Steady Expansion during 2018-2026 | Top Key Players Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Nutricia, Abbott Laboratories, Pfizer, Inc.

Nutritional deficiency is a result of insufficient amounts of a nutrient obtained or absorbed from food. Elder people are more prone to nutritional deficiencies even if the diet consumed is healthy and sufficient in calories. This may be attributed to the decline in the ability of digestive tract to effectively absorb nutrients with age. Moreover, decline in the ability to smell and taste also reduces appetite, which can lead to low amount of required nutrients in elderly people. Less amount of fiber consumption is also a common cause of nutrition deficiency. These factors can lead to general un-wellness or chronic illness.

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Elderly Nutrition Market – Dynamics

A major factor contributing to significant growth of the elderly nutrition market is increasing geriatric population and lack of nutritional intake though meal. According to World Population Prospects in 2017, the global geriatric population was 962 million, which is expected to reach around 2.1 billion by 2050. People above 60 years of age are highly susceptible to different types of age-related diseases such as Parkinson’s disease, organ failures, and nervous system disorders and require parenteral nutrition feeding to keep their nutritional levels intact.

Increasing use of home parenteral nutrition therapy by geriatric population with chronic illnesses such as cancer, diabetes, and AIDS is also stimulating growth of the market. Moreover, increasing prevalence of chronic diseases is also expected to boost growth of the global elderly nutrition market. For instance, chronic obstructive pulmonary disease (COPD) is a primary cause of disability and death all over the world. Most people with COPD have malnutrition and there for require nutritional support to live. According to WHO in 2016, 251 million people suffered from moderate to severe chronic obstructive pulmonary disease (COPD).

Elderly Nutrition Market – Regional Insights

Based on the region, the global elderly nutrition market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. Europe is expected to hold dominant position in the global elderly nutrition market during the forecast period followed by North America. This is owing to increasing geriatric population and growing health awareness in the regions.

According to World Population Prospects, in 2017, more than one in every five people was aged 60 or above in Europe and North America. Moreover, by 2050, geriatric population is expected to account for 35% of the total population in Europe, for 28% in North America, 25% in Latin America and the Caribbean, 24% in Asia, 23% in Oceania, and 9% in Africa.

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Elderly Nutrition Market – Competitive Landscape

Key players operating in the global elderly nutrition market are focused on developing novel nutritional products that are safe and fulfill the nutritional requirements of patients with different clinical conditions. Moreover, significant increase in investments for developing novel nutritional products for geriatric population is also expected to propel growth of the market. For instance in May 2017, Nestle launched YIYAN powder for age over 50 years in China Nutrition Science Conference in China.

Major players operating in the elderly nutrition market include, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Nutricia, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sichuan Kelun Pharmaceutical Company Limited, Sanofi and Grifols S.A., Nestlé’s, Heinz, GlaxoSmithKline, Wockhardt Ltd, Fresenius Kabi AG, and Ranbaxy.

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