The demand for oral clinical nutrition supplement will rise steadily despite shifting dynamics and consumer preferences amid COVID-19. According to a study by Future Market Insights, growth outlook for the market remains positive, while its valuation is expected to surpass US$ 7.7 Bn in 2021.
The rising demand from geriatric population will remain a chief growth driver. The demography will remain dominant through the forecast period and is projected to account for above 45% of oral clinical nutrition sales registered worldwide.
Aged people are often vulnerable to immunity deficiency, which can cause weight gain or loss of appetite, besides various other health-related complications. Thus to tackle such situations oral clinical nutrition supplements are administered to help improve their immunity against various illnesses and conditions.
FMI has projected the standard formula to be in high demand, accounting for half of the market share. The rising demand for flavoured oral clinical nutrition will continue supporting sales through the course of the forecast period.
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Key Takeaways from Oral Clinical Nutrition Supplement Market Study
- Exhibiting nearly 5% year-on-year growth in 2021, the oral clinical nutrition supplement market is forecast to expand steadily through 2031
- The U.S. to account for over 80% sales in North America backed by willingness among consumers to spend on health and wellness
- Demand from Germany and France will remain significantly high, aiding expansion in Europe
- China will remain dominant in Asia Pacific, besides which Japan and ASEAN will emerge among key markets
“Companies operating in the market are currently focusing on strategic collaborations to gain competitive edge. Through this they intend to expand their geographic footprint as well as product portfolio,” said a lead analyst at FMI.
Who is winning?
Some of the key players in the oral clinical nutrition supplement industry are Danone Nutricia, NUTRICIÓN MÉDICA SL, Nature’s Bounty, Medifood International, Meiji Holdings Co., Ltd., Medtrition Inc., GlaxoSmithKline plc, B Braun, Perrigo Nutritionals, Fresenius Kabi Ltd, Victus Inc., Nestle Health Science, Pharmavite, Pfizer Inc., Bayer AG, Church & Dwight, and others.
Understanding the growing demand for oral clinical nutrition supplements the key players in the industry are revising their strategy. These players are trying to increase their regional presence in the untapped market via mergers, acquisitions, and partnerships with the other players in the industry.
- In 2020, Ajinomoto Cambrooke, Inc. acquired a medical nutrition company called Nualtra Limited, who offers life-enhancing oral nutritional supplements in the Ireland and UK.
- In July 2019, Perrigo Company plc announced successful acquisition of Ranir Global Holdings LLC, who is leading global supplier of the oral self-care products.
Get Valuable Insights into Oral Clinical Nutrition Supplement Market
Future Market Insights, in its new report, presents an unbiased analysis of the global Oral Clinical Nutrition Supplement Market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into growth witnessed in the market. Based on Product Type the Oral Clinical Nutrition Supplement Market is segmented as Standard Formula and Specialized Formula. On the basis of Indication Oral Clinical Nutrition Supplement Market can be segmented as General Well-being, Renal Disorders, Hepatic Disorders, Oncology Nutrition, Diabetes, Dysphagia, IBD & GI Tract Disorders, Neurological Disorders, Respiratory Orders and Others (Cachexia, PKU, Wound Healing & Ulcers, Pancreatic Issues, Obesity, Post & Pre Surgeries, Aids, and Inflammations, Trauma, Head Injury, Eye Health, Bone Health). On the basis of Form Oral Clinical Nutrition Supplement Market is segmented as liquid, Semi-solid and Powder. On the basis of End-User Oral Clinical Nutrition Supplement Market is segmented as Adult, Geriatric and Pediatric. On the basis of flavour Oral Clinical Nutrition Supplement Market is segmented as Regular and Flavoured. The Flavoured Oral Clinical Nutrition Supplement Market is segmented as Chocolate, Vanilla, Strawberry, Apple, Mixed Berries, Orange, and Nut Flavours. Based on Channel Oral Clinical Nutrition Supplement Market is segmented as Prescription Based and Over-the-Counter. Over-the-Counter Oral Clinical Nutrition Supplement Market is segmented as Modern Trade, Hospital Pharmacies, Retail Pharmacies, Drug Stores, and Online Pharmacies. . Regionally, Non-Dairy Creamers Market covers North America, Latin America, Europe, Asia Pacific and Middle East & Africa.