Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global clinical nutrition market driving due to the rising rate of premature birth rate and increasing metabolic disorders and other chronic diseases
The global clinical nutrition market size was valued around USD 56.03 Billion in 2019 and projected to generate USD 100.88 Billion by 2027, registering a CAGR of 7.29%, during the forecast period, 2020-2027. The primary factors are a steady infant birth rate and an aging population across the world. Additionally, the surge in chronic and lifestyle diseases, along with the increase in the geriatric population, will augment the market growth in future periods. Moreover, the high birth rate and a higher number of premature births are expected to witness the remarkable growth of the global clinical nutrition market in the upcoming period. According to WHO, every year, an estimated 15 million babies are born preterm, and approximately 1 million children die each year due to complications of preterm birth. Also, the lack of awareness and the wide prevalence of poverty led to a substantial amount of deficiencies in children in the developing nations will spurt the market growth.
Further, the increasing population of baby boomers, along with the upsurge with improving health standards among these age groups, is positively impacting the demand for clinical nutrition. The suffering of elderly people from loss of appetite or digestive problems, requiring the supply of nutrients, which will trigger the global clinical nutrition market share in the coming years. Additionally, the surge in advancements of clinical nutrition along with growing demand for clinical nutrition in developing nations will foster the growth of the market.
Product Overview in the Global Clinical nutrition Market
Based on the product, the global clinical nutrition market classified into Infant Nutrition (Milk, Soy, and Organic), Parenteral Nutrition (Amino Acids, Fats, and Carbohydrates), Enteral Nutrition (Standard Composition, Disease-Specific Composition). The infant Nutrition segment likely to lead the market by 2027, owing to rising in birth rate, along with increasing the death of 1 million children every year will demand clinical nutrition.
Parenteral Nutrition will grow with a substantial rate in the estimated period on account of the increasing number of people affected by chronic conditions and not acute conditions.
Application Overview in the Global Clinical nutrition market
Based on the application, the global clinical nutrition market segregated into cancer, neurological disease, gastrointestinal disorders, metabolic disorders, and others. The cancer segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to the growing geriatric population base and the increasing number of patients affected due to nutritional deficiency diseases like cancer, which need proper nutritional food products.
End-User Overview in the Global Clinical nutrition Market
Based on end-user, the global clinical nutrition market segmented into a paediatric, adult, and geriatric. The paediatric segment projected to lead the market by 2027. It is due to the surge in income levels across the world, coupled with the increasing number of working mothers and urbanization. Additionally, the massive surge in the number of pre-birth children in developing nations will demand clinical nutrition in the forecast span.
Regional Overview in the Global Clinical nutrition Market
By geography, the global clinical nutrition market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the growing obese population and the increasing incidences of chronic disease in these regions.
The Asia Pacific will be the fastest-growing segment during the forecast span owing to the upsurge in the prevalence of metabolic disorders, growing in the elderly population, and the massive surge in the pre-birth of the child in these regions.
Global Clinical nutrition Market: Competitive Landscape
Companies such as Abbott Laboratories, B Braun Melsungen AG, Baxter International Inc., Danone, Fresenius Kabi, Hospira, Mead Johnson, Perrigo, Nestle Nutrition, Ajinomoto Co. Inc, Lonza Ltd, Gentiva Health Services Inc., Kendall, Hero Nutritionals Inc., American Home Patient Inc., AG, H. J. Heinz Company are the key players in the global clinical nutrition market.