The clinical nutrition market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increasing prevalence of metabolic disorders globally, along with the growing investment in the healthcare expenditure are expected to fuel the development of this market. The growth of the market can also be attributed to factors such as the increasing geriatric population and the rising middle-class population in the emerging economies on a global level. According to the data collected from the United Nations Department of Economic and Social Affairs, in 2020, the estimated elderly population aged above 65 accounted for 727 million and by 2050 the number is expected to get double to approximately 1,500 million.
The market is segmented based on product into infant nutrition, parenteral nutrition, and enteral nutrition, out of which, the infant nutrition segment is anticipated to grab the largest share by the end of 2021 on account of increased number of malnourished babies and growing premature births. Moreover, increasing government approval of new infant nutrition products globally is also projected to contribute to the growth of the segment during the forecast period.
On the basis of application, the cancer segment in the global clinical nutrition market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that cancer patients are suffering from nutritional deficiency that arises due to various cancer treatments including radiation therapy, chemotherapy, stem cell transplant, and others. As a result, a considerable portion of the population with cancer on a global level is expected to drive the growth of the market over the forecast period.
Based on end-user, the paediatric segment hold the largest share in the global clinical nutrition market on the back of growing concern and awareness for malnutrition. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing birth rates and the rising geriatric population in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing healthcare investment, accompanied by the presence of leading healthcare service providers, and the increasing number of chronic disorders in the region. Along with this, the countries in North America such as the United States is promoting nutritional care for cancer patients, which is also expected to contribute to the market growth in the region. According to the report published by the National Cancer Institute, in 2020, 1.8 million new cancer cases were registered in the United States. Such increasing rate of cancer is further expected to drive the demand for clinical nutritional products in the North American countries. Alternatively, the market in Europe is also anticipated to occupy a significant share in the global clinical nutrition market on account of its proven success in terms of technology development and a high prevalence of cancer in the region. As per the analysis of the European Society for Medical Oncology, 2.7 million new cancer cases were registered in the European Union, with 1.3 million deaths in 2020.
The global Clinical Nutrition market is further classified on the basis of region as follows:
Our in-depth analysis of the global clinical nutrition market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising prevalence of metabolic disorders and increasing elderly population are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing birth rates and geriatric population.
The major players dominating the Clinical Nutrition market are Nestlé S.A., Abbott Laboratories, Baxter International Inc., Danone S.A., Perrigo Company plc, Mead Johnson & Company, LLC, BASF SE among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, application, end-user and region.
With respect to application, the cancer segment is anticipated to hold the largest market share owing to the growing requirement for clinical nutritional products for the cancer patients undergone various cancer treatment such as chemotherapy, radiation therapy, and others.
Lack of awareness among the developing and under-developed countries and stringent government regulations are estimated to hamper market growth.
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