Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The "Clinical Nutrition Market Growth, Analysis - Segmented by Route of Administration (Oral, Enteral and Parenteral), Disease, End User, and Geography - Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The clinical nutrition market was valued at USD 28,574.5 million in 2017, is expected to register a CAGR of about 6.8% during the forecast period 2018-2023.
High Spending on Healthcare Boosts Growth
Healthcare spending continues to grow faster than economic growth in most countries, maintaining a trend observed over the decades. The presence of equitable, responsive, and efficient health systems across North American, European, and Asia-Pacific countries has also contributed to the maximum share of GDP for healthcare expenditure.
The US government spends the highest on healthcare. In 2016, the United States spent nearly USD 3.4 trillion on healthcare, with advanced healthcare facilities, a high cost of treatments, and high healthcare awareness being the major reasons. Countries, like Norway and Switzerland, were also the next big spenders on health per capita.
There are many funding opportunities for clinical nutrition from governments across the globe private foundations and the international community. The major funding organizations are National Institutes of Health, the United States Department of Agriculture, the Robert Woods Johnson Foundation, and the Nestle Foundation.
The American Society for Nutrition organizes events, seminars, and collaborations, globally, for the promotion of nutrition research. The high per capita income and industrialized economy also help people in developed countries to spend more on clinical nutrition.
As healthcare spending increases worldwide among major countries of the world, the clinical nutrition market, because of its wide applicability, is also set to witness a higher CAGR throughout the forecast period.
Imprecise Perception about Clinical Nutrition Hindering Growth
It has been observed globally that most people generally do not understand the difference between nutrition and clinical nutrition. In most parts of the world (other than cases where malnutrition arises due to lack of proper food or affordability of proper food), people believe that any malnutrition can be simply treated by making required dietary changes. They fail to realize that malnutrition is not always due to improper diet and can be due to many other conditions, such as nutrient absorption disorders or metabolic syndromes.
This misconception about clinical nutrition prevents many people (particularly from emerging and third-world countries) from even visiting healthcare professionals or even following their instructions and using clinical nutrition (as most people in these countries consider clinical nutrition used only by severely ill people). These false perceptions about malnutrition in general and clinical nutrition, in particular, are restraining the growth of this market
Market Segmentation Insights
Insights on the route of administration; It is further segmented into oral, enteral and parenteral. Oral clinical nutrition holds the largest share in terms of value in this segment. Of the three routes of administration available for clinical nutrition, oral and enteral routes are used the most, followed by the parenteral route. This is mainly because of the additional cost of processing the product/nutrient involved in enteral/parenteral routes (discussed in detail in the respective sections). Along with this, most of the disease conditions, in which the oral route is used for the administration of clinical nutrition, are chronic conditions and not acute conditions.
However, enteral is growing with the highest CAGR in the market which is 7.9%, due to the low cost of enteral administration of nutrients, which require a far lower level of processing compared to the processing required for parenteral administration of nutrients.
By disease type, nutritional support in gastrointestinal disease holds the largest share in the market due to the growing prevalence of diseases, technological advancements and active participation of major players like Nestle, MediFood, Nutrica for the growth of nutritional support in gastrointestinal diseases application.
However, nutritional support in neurological diseases is growing with the highest CAGR in the market which is 8.2%, due to the high prevalence of neurological diseases like Alzheimer disease, depression and epilepsy. Also, major companies are targeting their products to neurological disease.
Based on the end-user, the market is further segmented into infant, child, adult and geriatric. The geriatric population holds the highest share in the market which is 38% due to increasing prevalence of geriatric population especially in North America and Europe as the tendency for malnutrition is quite high, compared to other age groups and presence of various disorders also creates more demand for essential nutrients.
However, infants segment is growing rapidly with a CAGR of 7.6% in the market.
Asia-Pacific to Dominate the Clinical Nutrition Market Growth
Asia-Pacific is the largest geographical market and is also expected to register the highest CAGR of 7.9%. The factors attributing the high growth of the Asia-Pacific are increasing investments from manufacturers in the R&D for innovating new products with enhanced nutrition and focused on improving the health of infants would help in the further market expansion.
Growing awareness about the relationship between health and nutrition, recovering market conditions would help clinical nutrition market to succeed in the long-term. Also, in rural China malnutrition is starting at a very early age in children and is also lasting for a very long time which is the main reason for the largest share of China in the Asia-Pacific clinical nutrition market.
Developments in the Market
- French dairy firm, Lactalis, had to recall millions of powdered milk products off the shelf after a salmonella scare at a French diary firm. This is expected to create opportunities for new entrants in the clinical nutrition market.
- Fresenius Kabi and ASPEN (The American Society for Parenteral and Enteral Nutrition) are creating awareness among clinicians who provide nutrition support by launching video series that highlight the best practices for dosing, preparing, and administering intravenous lipid emulsions (ILE).
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increasing Prevalence Of Metabolic Disorders
6.1.2 High Spending On Healthcare
6.1.3 Rise Of Middle-Class In Emerging Economies
6.2 Market Restraints
6.2.1 Unwillingness Of Hospitals And In-House Pharmacies/Dispencaries To Maintain The Required Stock Of Clinical Nutrition Products
6.2.2 Heterogenous Nature Of Government Coverage/Reimbursement Across Countries
6.2.3 Imprecise Perception About Clinical Nutrition
6.3 Opportunities
6.4 Key Challenges
7. Market Segmentation
7.1 Segmentation - By Route Of Administration
7.1.1 Oral
7.1.2 Enteral
7.1.3 Parenteral
7.2 Segmentation - By Disease Type
7.2.1 Nutritional Support In Cancer
7.2.2 Nutritional Support In Gastrointestinal (Gi) Diseases
7.2.3 Nutritional Support In Neurological Diseases
7.2.4 Nutritional Support In Renal Diseases
7.2.5 Nutritional Support In Respiratory Diseases
7.2.6 Nutritional Support In Metabolic Syndromes
7.2.7 Nutritional Support In Other Disease Areas
7.3 Segmentation - By End User
7.3.1 Infant
7.3.2 Child
7.3.3 Adult
7.3.4 Geriatric
7.4 Segmentation - By Geography
7.4.1 North America
7.4.2 Europe
7.4.3 Asia-Pacific
7.4.4 Middle East & Africa
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, And Partnerships
8.3 New Products Launches
9. Major Players
9.1 Abbott Nutrition
9.2 Nestle Health Science
9.3 Baxter Healthcare
9.4 B. Braun Melsungen AG
9.5 Nutricia
9.6 Mead Johnson
9.7 Perrigo Company PLC
9.8 Fresenius Kabi
10. Future Market Outlook
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