Global Clinical Nutrition Market, By Route of Administration (Oral, Enteral, and Parenteral), By Application (Cancer, Neurological Diseases, Gastrointestinal Disorders, Metabolic Disorders, and Others), By End-Use (Pediatric, Adults, and Geriatric), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global clinical nutrition market was valued US$ 26.9 Bn by the end of 2020 and expected to reach at a value of US$ 42.7 Bn by 2028 with a significant CAGR of 6.0%.
Healthy food and nutrition holds a crucial role in well-being as well as in chronic disease management. Also, just attaining good food and a healthy diet may not be enough for numerous people. There are few medical conditions which require additional nutritional supplements to remain in sound health and wellness. Clinical nutrition, thus, plays an essential role in the prophylaxis, diagnosis, and handling of metabolic and nutritional variations associated with acute and chronic diseases and conditions caused by a lack or excess of nutrients and energy.
The expeditiously surging prevalence of chronic medical conditions among the population across the globe is one of the prime factors that is driving the growth of the global clinical nutrition market. Also, the invariably soaring geriatric population also stimulates the demand of clinical nutrition in the global markets, thereby boosting the clinical nutrition market growth.
Other than that, there is an increasing rate of premature babies born in the present times, which also positively fuels the demand of clinical nutrition in the global market. According to the WHO, around 5 million babies are born too early each year, which is more than 1 in 10 babies. In addition, nearly 1 million children die every year due to complications of premature or preterm birth, or go through a lifetime of disablement. Owing to such factors, the global clinical nutrition market is estimated to observe major breakthroughs in the years to come.
However, the lack of knowledge and awareness among people, in few developing or remote areas, is likely to hold back the growth of the global clinical nutrition market. Furthermore, stringent regulations pertinent to the clinical nutrition solutions may further act as a restraining factor for the growth of the global clinical nutrition market over the forecast period.
Nevertheless, the huge crisis of malnourishment, across the world, further accelerates the growth of the global clinical nutrition market.
MMC Study identifies some of the key participating players in the clinical nutrition market globally are Abbott Laboratories, B. Braun Melsungen AG, Danone Nutricia, Baxter International Inc., Fresenius SE & Co. KGaA, Perrigo Company Plc, Pfizer Inc., Nestlé S.A, Lonza Ltd., and Hero Nutritionals Inc., Ajinomoto Co. Inc., Gentiva Health Services Inc., Mead Johnson & Company, Kendall, and H. J. Heinz Company, among others.
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