According to a new report published by Allied Market Research, titled, “Clinical Nutrition Market by Route of Administration, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028,” the global clinical nutrition market size was valued at $32,495.97 million in 2020, and is projected to reach $51,128.26 million by 2028, registering a CAGR of 6.1% from 2021 to 2028.
Clinical nutrition refers to the nutrition of patients in the healthcare industry or clinical refers to the management of outpatients as well as inpatients in clinics and hospitals. It aims to maintain a healthy energy balance in patients, as well as providing require amounts of other nutrients such as protein, vitamins, minerals, etc. The advantages of clinical nutrition are, it is very effective in treating type 1 or type 2 diabetes and helps one to live better at any age. Clinical nutrition products are outwardly provided to patients who are unable to digest certain nutrients products. These products help in improving metabolisms, digestion, absorption, transportation, storage, and discharge of the human body.
The outbreak of the COVID-19 pandemic has impacted a strong influence on the clinical nutrition products market, as the demand for nutritional management, particularly among children and older population, continues to witness consistent growth. The demand for clinical nutrition products amid the ongoing COVID-19 crisis is on the rise, as consumers are seeking various immunity-boosting alternatives to prevent being infected from the novel coronavirus. Furthermore, patients suffering from SARS-CoV-2 are dealing with nutrition deficiency, which necessitates the use of clinical nutrition products. From the advent of the COVID-19 pandemic, nutritional supplements have been in huge demand, which could also bolster the global market’s growth in the years.
Rise in prevalence of metabolic disorders, high spending on healthcare, and rise of middle class in the emerging economies are expected to boost the market growth in the forecast period. Further, the growing number of elderly population and development of clinical nutrition products specific to ageing population is expected to thrive the market growth. However, lack of awareness for clinical nutrition and stringent regulations are hampering the market growth for clinical nutrition. Conversely, rise in awareness and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the clinical nutrition market growth.
By route of administration, the oral segment held the largest share in 2020 and is anticipated to maintain its dominance during the forecast period, owing to increase in malnourished patients who have malignancy, chronic disease, and/or anorexia and increase in incidences of chronic diseases such as cancer, gastrointestinal disorders and metabolic disorders provides lucrative growth opportunities for Oral Clinical Nutrition market.
North America accounted for the largest share in 2020, and is anticipated to maintain its dominance from 2020 to 2028, due to high expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR during the forecast period, as Governments of Asian countries are investing in the development of healthcare infrastructure
The clinical nutrition market is segmented on the basis of by route of administration, the clinical nutrition market segmented into oral, Enteral and Parental. Further, by application, it is divided into cancer, neurological disorders, metabolic disorders, gastrointestinal disorders and others. By end user, it is segregated into pediatric, adults, and geriatric. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America clinical nutrition market accounted for the largest share in 2020 followed by Europe; however, the Asia-Pacific region is anticipated to grow with the highest CAGR 7.20% during the forecast period.
The report provides some of the key players operating in the clinical nutrition market include Abbott Laboratories, B. Braun Melsungen AG, Danone Nutricia, Baxter International Inc., Fresenius SE & Co. KGaA, Perrigo Company Plc, Pfizer Inc., Lonza Ltd, Nestlé S.A., and Hero Nutritionals Inc. and among others.
Key Findings Of The Study
- By application, the gastrointestinal disorders and metabolic disorders segments collectively accounted for around 67.5% clinical nutrition market share in 2020, with the former constituting around 36.7% share of the global clinical nutrition market in 2020 to 2028.
- By route of administration, the enteral segment is anticipated to grow at the CAGR of 7.30% during the analysis period.
- By end user, the pediatric and geriatric segment held the largest share around 79.6% in 2020 and is anticipated to maintain its dominance throughout the forecast period.
- By region, the Asia-Pacific market is anticipated to experience 7.20% CAGR during the forecast period.