The global clinical nutrition market is expected to ascend from USD 47.67 billion in 2019 to USD 74.99 billion by 2027, according to QuantAlign Research.
LONDON, UNITED KINGDOM, January 13, 2021 /EINPresswire.com/ — With the rise in geriatric population, the clinical nutrition spending is expected to increase over the coming years. Moreover, the global clinical nutrition business sector is expanding due to the high birth rate, increasing number of patients receiving malnutrition treatment, and high number of premature births across various countries. The global clinical nutrition market is expected to increase at steady rate and is likely to ascend from USD 47.67 billion in 2019 to USD 74.99 billion by 2027, at a CAGR 6.2% over the forecast period (2020-2027), according to QuantAlign Research.
High birth rate nations are expected to witness more incidents of premature birth. Premature birth leads to long-term adverse health consequences. Prematurely born children are prone to suffer from sensory deficit, cerebral palsy, learning disabilities, and respiratory illnesses compared to children born at the end of the normal term. As per WHO, every year, an estimated 15 million babies are born preterm (before 37 completed weeks of gestation), and this number is rising. Preterm birth complications are the leading cause of death among children under 5 years of age. More than 60% of premature births occur in Sub-Saharan Africa, and South Asia. The increasing number of premature births in developing countries has led to growing awareness towards the clinical nutritional products.
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The infant nutrition segment held the largest share in 2019, while the parenteral nutrition segment is poised to grow at highest CAGR over the forecast period
The pediatric segment was the largest end user of the clinical nutrition products in 2019, and would continue its dominance during the forecast period (2020- 2027)
Regionally, Asia-Pacific accounted for the largest market for clinical nutritional products, with a share of 35.2% of the global market share in 2019. The growth is attributed to the increasing birth rate, coupled with growing geriatric population, in the Asia-Pacific region
Infant nutrition is the largest product segment of the clinical nutrition market. In order to achieve optimal growth and development, it is recommended that infants should be breastfed for the first six month of birth. Also, it is necessary to provide an infant with the optimal amount of nutrients, which are necessary during the first three years of a baby’s life for proper health and wellbeing. The infant nutrition products are required to meet these nutritional requirements. During the initial phase of an infant’s life, any deficit can lead to developmental retardation, growth retardation, and increased risk of infection, blindness, and anemia.
Geographically, Asia-Pacific dominated the global clinical nutrition market in 2019, on account of the increasing birth rate, along with growing geriatric population. Countries such as India and China have high birth rate, which is expected to boost the demand for clinical nutrition products, especially infant nutrition products. Japan has the largest old age population in Asia-Pacific. It is expected that one out of 2.5 people in Japan would be over 60 years by 2050. Additionally, the increasing number of malnutrition treatment cases in the region is expected to increase the demand for clinical nutrition. The aforementioned factors are projected to propel the regional demand over the forecast period.
Key players operating in the market include: Baxter International Inc., Abbott Laboratories, B. Braun Melsungen AG, Nestlé S.A., Groupe Danone, Mead Johnson Nutrition Company, Fresenius Kabi AG, Hospira, Inc., Perrigo Company Plc, Lonza Ltd.among others.
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Segmentation covered in the report
o Probiotic / Prebiotic
o Disease Specific Composition
o Amino Acids
• The U.S.
• The U.K.
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
Central & South America (CSA)
• Rest of Central & South America
Middle East & Africa (MEA)
• South Africa
• Rest of Middle East & Africa