The Clinical Nutrition Market size is projected to be valued at US$ 13.4 billion in 2023 and is expected to rise to US$ 29.2 billion by 2033. The sales of clinical nutrition are expected to record a CAGR of 8.1% during the forecast period.
Clinical nutrition aims to provide essential nutrients while also assisting patients in maintaining a healthy metabolism. Clinical nutrition has many advantages, including the ability to support people in leading healthy lifestyles at any stage.
Increasing rates of chronic diseases like diabetes and cancer, along with various government initiatives, are a few of the factors boosting the global clinical nutrition market’s expansion. The use of clinical nutrition approaches is anticipated to increase in response to the growing need for improved and accurate diagnostic procedures as the prevalence of infectious diseases rises.
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The most frequent issue among premature newborns is malnourishment. The global clinical nutrition market is expanding as a result of the rising number of premature babies worldwide. Growing government-sponsored awareness campaigns and camps for various chronic disorders, as well as increasing the incidence of incapacitating diseases, are a few of the key factors fuelling the global clinical nutrition market’s rise.
The global clinical nutrition market is anticipated to be driven by advancements in clinical nutrition solutions, such as the optimization of lipid emulsions and the release of oral clinical nutrition formulas in liquid form.
Key Takeaways:
- Adults are leading the consumer segment with a growth of 7.8%. Adults are now more prone to chronic diseases due to their unhealthy choices and sedentary lifestyles.
- Cancer leads the application segment with a rate of 7.6%. A cancer patient is highly vulnerable to malnutrition, which can cause nutritional deficiencies and can severe the patient’s condition. To overcome this, proper and planned nutrition is required along with the therapies.
- The United Kingdom holds a leading position in the European clinical nutrition industry with a growth rate of 7.2% due to the high prevalence of chronic diseases, the growing elderly population, and the rising frequency of metabolic disorders.
- The United States holds a prominent share of the market contributing revenue of US$ 9.4 billion by 2033. This region has high obesity rates among other regions which is a key factor for the development of the market
- China market is growing at an impressive rate of 7.5%. Diabetes is the most prevalent disease in the region which creates a significant need for proper nutrition. Growing awareness among the people is estimated to further provide lucrative opportunities in the region.
Competitive Landscape:
Prominent firms in the sector are implementing strategic plans like boosting output and broadening their global footprint. For instance, the dairy cooperative Laita’s ESI Nutrition division announced in May 2020 that the Ploudaniel facility has the first commercial plant and a new manufacturing line that is completely operational. Additionally, ESI Nutrition sought to increase the variety of formats clients could choose from, so it introduced two new, smaller-than-usual container sizes: 70 ml and 90 ml. These are transparent to monitor consumption levels and ergonomically constructed to make them easy to manage.
Latest Developments:
- To provide customized nutrition solutions to the South Korea market, Hologram Sciences and Maeil Health Nutrition partnered in October 2022.
- In April 2022, Glanbia Nutritionals introduced TechVantage, a platform for nutrient technology that has been functionally improved, and offers customers nutrient solutions.
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Key Players:
Nestle Health Science, Fresenius Kabi, Abbott Laboratories, Danone, B Braun Melsungen AG, Baxter International Inc., Mead Johnson (Reckitt Benckiser), and Perrigo are some of the key players in clinical nutrition market.
Key Segments:
By Consumer:
- Pediatric
- Adult
By Product:
- Infant Nutrition
- Parenteral Nutrition
By Application:
- Cancer
- Metabolic Disorders
- Neurological Diseases
- Gastrointestinal Disorders
- Others
By Distribution Channel:
- Retail Stores
- Pharmacies & Drug Stores
- Online Channes
- Others
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