The increase in number of patients suffering from chronic diseases, and surge in elderly population fuels the growth of the clinical nutrition market.
PORTLAND, OR, UNITED STATES, August 20, 2021 /EINPresswire.com/ — Clinical Nutrition Market was estimated at $32.49 billion in 2020 and is expected to hit $51.12 billion by 2028, registering a CAGR of 6.1% from 2021 to 2028. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Increase in incidences of chronic diseases and lifestyle associated disease and surge in geriatric population across the globe drive the growth of the global clinical nutrition market. On the other hand, lack of awareness for clinical nutrition and stringent regulations and poor reimbursement policies impede the growth to some extent. However, various growth opportunities in emerging economies are expected to be beneficial for the market growth.
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• The outbreak of COVID-19 has led to increase in demand for clinical nutrition products, since consumers are looking for various immunity-boosting alternatives to prevent being infected from the virus.
• Also, as older people are at high risk of malnutrition, the demand for these products are most likely to persist post pandemic as well.
The global clinical nutrition market is analyzed across route of administration, application, end user, and region. Based on route of administration, the oral segment accounted for more than three-fifths of the total market share in 2020, and is expected to rule the roost by 2028. The enteral segment, on the other hand, would cite the fastest CAGR 7.3% during the forecast period.
By end-user, the pediatric segment held the major share in 2020, accounting for more than two-fifths of the global market. The same segment would also cite the fastest CAGR of 6.9% by the end of 2028.
By geography, North America garnered the highest share in 2020, holding around one-third of the global clinical nutrition market. The market across Asia-Pacific, on the other hand, would showcase the fastest CAGR of 7.2% from 2021 to 2028. The other two provinces covered in the report include Europe, and LAMEA.
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The key market players analyzed in the global clinical nutrition market report include B. Braun Melsungen AG, Abbott Laboratories, Hero Nutritionals Inc., Baxter International Inc., Fresenius SE & Co. KGaA, Perrigo Company Plc, Pfizer Inc., Lonza Ltd, Nestlé S.A., and Danone Nutricia. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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