As indicated by Acumen Research and Consulting, the global clinical nutrition market size is evaluated to grow at CAGR around 8.5% over the estimate time frame and reach around US$ 87 billion by 2026. growing number of people suffering from chronic diseases such as diabetes and cancer, growing demand for better and accurate diagnostic procedures, growth in the obese population, rising awareness towards the health related concerns, enhanced healthcare system, various research and development activities, and initiatives taken by favourable governments are some of the key factors that are fueling the clinical nutrition market growth across the globe. The North America market is likely to grow at remarkable CAGR due to the availability of wide range of various better and accurate disease diagnostic methods, early adoption of various advanced diagnostic methods and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional clinical nutrition market.
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Child Clinical Nutrition Segment is Also Anticipated to Witness a High Demand over the Forecast Period
On the basis of consumer, the clinical nutrition market is segmented into child and adult. Child segment is anticipated to dominate the global clinical nutrition market over the forecast period owing to the large number of premature babies and growing awareness towards clinical nutritional products. Malnourishment is the major issue generally occurred in pre mature babies. Rising number of pre-mature babies across the globe is driving the overall clinical nutrition market growth. Furthermore, rapidly increasing occurrences of various diseases along with the growing awareness amongst the patients is the key factor that positively impacting the growth of the segment. Development of healthcare infrastructure with the rising expenditure is expected to boost the demand for the various enhanced diagnostic methods for better treatment. The increasing disposable income, growing urbanization and growth in the number of working mothers are some of the other factors projected to boost the adoption of child clinical nutrition methods throughout the forecast period. On the other hand, adult clinical nutrition segment is also anticipated to grow at significant growth rate during the forecast period. Growing population of patients suffering from chronic conditions and increase in the incidences of obesity are helping the growth of the segment.
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North America to Dominate the Overall Market during the Forecast Period
Geographically, the global clinical nutrition market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is expected to accumulate highest market share in the global clinical nutrition market. North America is expected to grow at ample growth rate over the forecast period owing to the rising trend of prescription based nutritional products and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional clinical nutrition market. Growth in the adoption of clinical nutrition products and ongoing technological advancements in the healthcare industry in the region are also helping the growth of the regional market. Growing healthcare expenditure and inclination towards more advanced clinical nutrition are supplementing the regional market growth. Asia Pacific is also anticipated to growth at considerable pace during the forecast period owing to the continuous development in the healthcare infrastructure and presence of large number of patient base and growing disposable income in the emerging countries. Additionally, large number of patient base, growth in the obese population and increasing awareness towards early diagnostics among people are some other factors anticipated to boost the regional market growth throughout the forecast period.
Nestle Nutrition, Abbott Laboratories Inc., American Home Patient Inc. and Mead Johnson & Company are Likely to Continue to Lead the Global Clinical nutrition Market
The clinical nutrition market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are Nestle Nutrition, Lonza Ltd, Hospira Inc., Mead Johnson & Company, Kendall, Gentiva Health Services Inc., Abbott Laboratories Inc., H. J. Heinz Company, Ajinomoto Co. Inc., Baxter International Inc., American Home Patient Inc., Hero Nutritionals Inc., B. Braun Melsungen AG, and Fresenius Kabi.
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