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In past few years, long-term care software has gained an enormous interest due to improvement in the quality and safety of medication treatment. The rising need for healthcare IT solution to increase the work efficiency of long-term care facilities is the major factor contributing to the growing demand for long-term care software.

With a CAGR of 11% over the forecast period, the size of the worldwide long-term care software market is predicted to reach US$ 3,877 Mn in 2022 and US$ 10,988 Mn by 2032. (2022-2032).

Various government initiatives across the globe to curtail the increasing healthcare cost is the factor which is fueling the growth of the long-term care software market. Multiple applications of long-term care software such as the long-term care software analyze millions of data records and quickly spot potential issues before they become problems, and it enables mental health providers to manage remote patient video conferencing, scheduling, and messaging are playing a crucial role in the rapid adoption of long-term care software.

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Long-term care software solutions are fully-integrated electronic health record, billing and business intelligence solution which enables healthcare facilities to improve resident care, maintain compliance and manage multiple levels with the single software solution. Popular features of long-term care software include centralized database, and user-friendly graphic user interface are the factors which are supporting the rapid adoption of long-term care software.

Global Long-term Care Software Market: Drivers and Challenges

Drivers

The digitalization in healthcare technology is the primary factor which is driving the growth of long-term care software market. Also, changing healthcare infrastructure, shortage of medical staff and adoption of technological solutions in the healthcare institutions is the key growth driver of the long-term care software market. Moreover, limited healthcare specialists and different initiatives taken by the government bodies worldwide to reduce the medical cost are fueling the growth of long-term care software market.

Apart from this, the increase in the number of healthcare organizations and the increasing usage of mobile devices in the healthcare organizations are the major factors which are fueling the growth of the long-term care software market.

Challenges

The high cost of software maintenance is the primary factor which may hinder the growth of the long-term care software market in the near future. Also, the unwillingness of the traditional long-term care providers to adopt new software is one of the major factors which hampers the growth of the long-term care software market in the near future.

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Key Players

The prominent players in long-term care software market are: Allscripts Healthcare Solutions, Inc., Cerner Solutions, Omnicare, Inc., Omnicell, Inc., HealthMEDX, LLC, McKesson Corporation, Optimus EMR, Inc., PointClickCare, MatrixCare, and SigmaCare.

Global Long-term Care Software Market: Regional Overview

On the geographic basis, North America is anticipated to capture largest market share, owing to the well developed and established healthcare industry, and higher adoption of long-term care software in the region.

Europe and APAC are also expected to gain substantial market share due to the rapid infrastructural development in the healthcare sector. Also, APAC is expected to be the fastest growing long-term care software market owing to the government initiatives taken in the healthcare sector by the emerging economies such as India, China, and Japan.

The Long-term Care Software market in Latin America and MEA are expected to witness high growth rates in the coming period due to the rise in digital technologies and increasing adoption of mobile devices in the healthcare sector of the region.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Global Long-term Care Software Market: Segmentation

Segmentation of Long-term Care Software market on the basis of major delivery modes:

• On-premise
• Cloud-based

Segmentation of Long-term Care Software market on the basis of end-users:

• Home Healthcare Agencies
• Nursing Homes
• Hospice care facilities provider

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The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Transit Ticketing Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period 2022 to 2032.

Ticketing is a pain point across the people who travel daily or frequently. The purchasing process has been stressful and issues of affordability has been prevalent for the lower-income riders. The presence of high speed systems like smart cards and use of smart phones in the transit ticketing has taken this market to new high.

The people now want to buy these prepaid or easy-to-use options because of the simple process and most importantly for saving time and energy rather than standing in queues. The transit ticketing solutions are seeing more developments in the system category like for palm-scan fast-track lanes at airports, and such other devices are slowly being commercialized in the transit ticketing market.

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Transit Ticketing Market: Market Participants

Examples of some of the market participants in the global transit ticketing market identified across the value chain include Rambus Incorporated, Infineon Technologies AG, AEP Ticketing Solutions, Accenture Plc, Gemalto NV, NXP Semiconductors, HID, CPI Card Group Inc., Cubic Corp., Xerox Corp., and others of transit ticketing market.

Transit Ticketing Market: Segmentation

The Transit Ticketing market can be segmented on the basis of product, system, application, and region.

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The global church management software market is estimated to garner US$ 405 Million while exhibiting a 5.7% CAGR during the 2022-2032 forecast period, according to a recently published FMI report. The market is expected to secure US$ 232.4 Million in 2022, yielding a dollar opportunity worth US$ 172.6 Million.

The adoption of church management software in large and small organizations is anticipated to gain benefits from church management as it is becoming more popular. Rising development in church management software and the addition of new features will grow the demand and are anticipated to foster the market growth on a large scale in near future. Also, growing threats to data security and the high deployment cost of the church management software are some of the prominent factors anticipated to hinder the market’s growth during the forecast period.

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From 2015 to 2021, demand for church management software grew at a CAGR of 6.4% to close at US$ 218 Million. As per the analysis, the cloud-based segment is anticipated to hold remunerative opportunities for the global church management software market. Various developing countries are making significant developments in their budgets, thereby, offering lucrative opportunities to players in the market.

Key Takeaways:

• By application, the mobile terminal segment is expected to record a 5.8% CAGR by 2032
• By deployment, cloud-based church management software to expand at a 5.7% growth rate during the forecast period
• The U.S market to garner US$ 144.5 Million and record a 5.5% CAGR from 2022-2032
• Market in China to procure US$ 29 Million, expanding at a 5.1% growth rate during the assessment period

• Global church management software industry to experience 1.7x growth from 2022-2032

Competitive Landscape

Eminent players of the global church management software market include ACS Technologies Group Inc., Anedot Inc., Blackbaud Inc., Faithlife LLC, and Ministry Brands LLC among others.  Recent developments among players include:

• In April 2021, Faithlife unveiled its newest, first-of-its-kind technology product set to revolutionize worship, discipleship, and management for church leaders. Faithlife recognizes the challenges church leaders face, especially in today’s complicated times when the way we previously ministered to congregants has changed significantly.
• In August 2021, Ministry Brands announced the acquisition of WeShare and WeGather assets from LPi, a leader in print and online communications primarily serving the Catholic Church market. The addition of WeShare and WeGather enables Ministry Brands to better serve Catholic constituents.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global church management software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

Key Segments Covered in the Church Management Software Industry Survey

Church Management Software Market by Application:

• Church Management Software across Mobile Terminals
• Church Management Software across PCs

Church Management Software Market by Application:

• On-premises Church Management Software
• Cloud-based Church Management Software

Church Management Software Market by Region:

• North America Church Management Software Market
• Europe Church Management Software Market
• APAC Church Management Software Market
• The Middle East & Africa Church Management Software Market
• Latin America Church Management Software Market

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The increasing preference for automation in the jury process is one of the important reasons driving the demand for legal transcription services. The adoption of legal transcription solutions is expected to grow at a significant rate over the forecast period, due to the increasing preference for more secured and reliable operations.

The market for legal transcription was valued at about US$ 1,988.9 million in 2021 and is anticipated to grow at a CAGR of 6.5 percent to US$ 3,267.7 million by 2029. The market for business transcription is only about 30.0% the size of the legal transcription market.

From the past few decades, technological evolutions are increasingly contributing to different industry verticals, and law firms are one of them. With the constant increase in crime scenes, the need for more advanced, fast, and secure ways of courtroom data recording is increasing rapidly. The interest of law firms has grown regarding the conversion of traditional courtrooms into high-tech courtrooms.

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Global Legal Transcription Market: Drivers and Restraints

One of the major factors driving the market for legal transcription software as well as services is the recent boom in legal practice and different types of law firms. Rising crime scenes on a global level are making it crucial to have quick and proficient legal transcription services available on a real-time basis.

In addition to this, the availability of different options such as interrogations, on-time transcription of data, phone calls, training sessions, announcements, and others for legal transcription users is also an important factor driving the growth of the legal transcription management solutions market.

Global Legal Transcription Market: Segmentation

The global legal transcription market is segmented on the basis of end user, deployment, and region.

Segmentation Based on End User:

Legal transcription solutions are available for different types of end users. The segmentation on the basis of end users includes law agencies/firms, legal attorneys, legal prosecutors, legal court reporters, insurance investigators, and others.

Segmentation Based on Deployment:

Legal transcription solutions are available based on two types of deployment models. The segmentation is performed on the basis of deployment as on-premise and cloud-based.

Segmentation Based on Region:

On the basis of region, the global legal transcription market is segmented into North America, Latin America, Western Europe, Eastern Europe, the South East Asia and Others of Asia Pacific, Japan, China, and Middle East & Africa.

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Global Legal Transcription Market: Key Players

Examples of some of the key players in the global legal transcription market include Voxtab, Focus Forward, Indoswift, Winscribe, Flatworld Solutions, NCH Software, Tech-Synergy, Voice Products Inc., and others. Legal transcription solution vendors are continuously focusing on product innovations to sustain in the increasing global competition, and are also focusing on delivering outstanding services to the end users.

Global Legal Transcription Market: Trends

Legal transcription vendors are continually focusing on delivering customer-centric products with advanced flexibility for software users. The deployment of legal transcription over the cloud is a significant trend. Cloud deployment is expected to contribute to significant growth over the forecast period.

In addition to this, the availability of mobile applications for smartphones and tablets is creating new market opportunities, as smartphones allow flexibility to track data from any remote location. These market trends are creating potential market opportunities for software vendors.

Global Legal Transcription Market: Region Wise Outlook

North America holds a significant market share regarding revenue generation from the sale of legal transcription solutions, due to the rapid adoption of legal transcription solutions in this region by private law firms. Also, to sustain in the changing global scenario in terms of maintenance of transparency in jury actions, European countries are adopting advanced solutions, such as legal transcription solutions.

The SEA and Other APAC region is expected to grow at a high CAGR over the forecast period, due to the increasing digitalization and smartphone usage in this region. MEA is expected to grow at moderate CAGR, due to the slow adoption rate of the software.

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A new research report by Future Market Insights on the high performance message infrastructure market provides significant insights, which consist of the global industry analysis 2014–2021 and forecast 2022 – 2029. According to the market research report, the overall market is projected to expand at a prolific CAGR of 14.4% between 2022 and 2029, surpassing a valuation of US$ 3.37 Bn by 2029.

Furthermore, the global high performance message infrastructure market is anticipated to experience notable growth during the forecast period, due to various driving factors, such as growth in the cloud computing industry, increasing IT infrastructure investment, and rising demand for Big Data and Software Development and Information Technology Operations (DevOps).

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Primary trends in the global high-performance message infrastructure marketplace include inclination towards interconnectivity between applications, sites, partners, providers, employees, customers, all devices.

Adoption of Integration Platform-as-a-Service (iPaaS) and event-driven architecture continues to broaden in developing and developed countries all over the world. It is expected that various opportunities will be found for key players in the high performance message infrastructure market over the forecasted period.

According to Future Market Insights’ report, the Big Data use case is anticipated to generate an incremental opportunity of ~US$ 520 Mn for the high performance message infrastructure market during the forecast period of 2019-2029.

Moreover, the event-driven architecture segment is likely to experience high growth rates during the forecast period, owing to growing demand for packaged applications and IT services.

Furthermore, the world is witnessing a significant rise in search-based analysis, predictive model markup language, and text & entity analysis, which, subsequently, is initiating potential growth opportunities for the high performance message infrastructure market.

Key Players Focus on Expanding their Business in APAC

Leading players in the high performance message infrastructure market are focusing on extending their businesses across Asian Pacific countries such as India and China. Increasing investment in digitalization infrastructure by the governments attracts various high performance message infrastructure providers to extend their business in these countries.

Moreover, the healthy economic growth of countries in the region, together with the continuous adoption of advanced technology, including the Internet of Things (IoT), Platform-as-a-Service (PaaS), are creating substantial growth opportunities for the high performance message infrastructure market.

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For instance, in August 2019, The Apache Software foundation organized Hadoop community meet up at Beijing, China, with 200 spots available for registration to attend this meet up in person. Participants introduces recent trends in the storage field, such as better scalability and moving towards cloud in the Asia Pacific region.

For instance, in June 2019, TWILIO INC. announced its expansion in the Japanese market. The company also announced new partnerships with seven regional consulting partners.

Cloud-integrated Solutions Playing an Essential Role in Market Growth

There are increasing scope of applications related to software-as-a-service (SaaS) or cloud-based data storage. Such factors have promoted the high performance message infrastructure market players to adopt expansion and product differentiation strategies to gain a distinct competitive edge as well as enhance their market presence, catering to each specific end-use industry.

For this, high performance message infrastructure providers are frequently increasing their investments on product developments and research & development activities to enhance their product offering awareness to the end-user industries.

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A market research report by Future Market Insights on the legal, risk and compliance solution market provides critical insights and explores the legal, risk and compliance solution market for the forecast period of 2019-2029. As per the report findings, the global revenues generated by the legal, risk and compliance solution market is set to reach ~US$ 8.4 Bn in 2019.

Furthermore, the legal, risk and compliance solution market is expected to experience a substantial growth over the upcoming years. It is due to various factors such as increasing adoption of big data and IoT in legal, risk and compliance solutions, growth in industrial IoT, and obligatory implementation of GRC solutions in enterprises.

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The market for contract lifecycle management is anticipated to reach $2,413.9 million in US dollars by 2029, expanding at a CAGR of 12.2% from 2022 to 2029. According to the report, the contract lifecycle management industry will rise through 2029 as a result of a greater emphasis on risk assessment, trend forecasting, and client behaviour analysis.

Integration of advanced technologies such as artificial intelligence, machine learning, IoT and others will also continue to fuel the sales of contract lifecycle management solutions. Furthermore, the ability of these solutions to focus on compliance of rules & regulations will boost the demand of contract lifecycle management solutions in 2023 and beyond.

Digitization of industries across the globe is increasing and companies are moving from traditional manufacturing to digital manufacturing and adopting advanced technologies. With rapid adoption of advanced technologies, sales of contract lifecycle management solutions is set for a massive upswing over the next decade.

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According to the FMI report, the usage of contract lifecycle management solutions for procurement business functions is poised to offer a total incremental opportunity worth over ~ US$ 2413.9 Mn during the forecast period of 2022 to 2029.

The software segment in contract lifecycle management market continues to steal the spotlight throughout the forecast period, unveils the contract lifecycle management market research study. Revenue generated by professional services is to increase in the regions where there is high usage of contract lifecycle management solutions. Demand for professional services will majorly be driven by the increasing requirement for risk & compliance assessment and implementation & integration services offered under this segment.

Contract Lifecycle Management Market Players to Double their Investments in Europe & East Asia

Rapid developments in new technologies such as hybrid cloud based contract lifecycle management solutions, have made access to new markets easier and cost-effective. With the help of such contract lifecycle management solutions, one can manage contracts in real time, providing more visibility, choice, and control over cloud, electronic repository, and other infrastructure, finds the report.

Hence, through the flexibility offered by such technologies, established and growing vendors of contract lifecycle management software can take the advantage of the booming opportunities in regions such as Europe and East Asia.

Moreover, economic growth of developing countries, such as Germany, France, China and India, is complemented by the declining prices of enterprise applications and contract lifecycle management solutions in these regions. Thus, according to the study the leading players of contract lifecycle management market will double their investments in these regions.

FMI’s business intelligence also highlights the trend setting insights into the competitive scenario of contract lifecycle management market along with differential strategies followed by the solution providers. Leading players in the contract lifecycle management market are providing cloud based solutions integrated with advanced technologies, as cloud based contract lifecycle management solution makes it an ideal, paper-less way to share all the contracts with only the people they deem necessary.

For instance, in May 2018, Apttus launched Apttus Omni, a contract lifecycle management solution that can benefit business outcomes for enterprises by improving the efficiency of revenue, contract and procurement operations across legal, sales, finance, operations, and other functional groups.

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Competitive Landscape

Contract lifecycle management key providers have focuses on acquiring companies, which serve as catalysts to organic growth by adding complementary technology, expanding served market, and help in enhancing domain expertise or market access. Through this business strategy, the key providers serve to expand its market and to strengthen its competitive differentiations.

• Coupa Software Inc. (Exari)
• Infor
• Newgen Software Technologies Limited
• SAP SE
• Infosys Limited
• Information Services Group, Inc.
• Model N, Inc.
• Synertrade (Econocom Group)

Contract Lifecycle Management Market Outlook By CategoryBy Solution, Contract Lifecycle Management Market is segmented as:

• Contract Lifecycle Management Software
• Contract Lifecycle Management Services

By Business Function, Contract Lifecycle Management Market is segmented as:

• Legal
• Finance
• Procurement
• Sales
• Operations
• Human Resource
• Information Technology

By Industry, Contract Lifecycle Management Market is segmented as:

• BFSI
• IT & Telecom
• Government & Public Sector
• Energy & Utilities
• Manufacturing
• Healthcare & Pharma
• Life Sciences
• Retail
• Real Estate
• Others

By Region, Contract Lifecycle Management Market is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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Level Sensor Market size is expected to reach US$ 6.4 Bn by 2029, at a CAGR of 6.3% during 2022-29. Market gains are further estimated to be underpinned by a slew of factors, with some of the being smart level sensor application and sheer proliferation of advanced industrial technologies.

The growing demand for intelligent devices, which would broadly include smart level sensors and smart transmitters, to improve measurement accuracy is expected to create enormous opportunities for the global level sensor market.

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Demand for Ultrasonic Technology Creates New Growth Opportunities

According to the FMI analysis, ultrasonic sensors are estimated to gain end user favour by a wide margin, on account of their high sensitivity, high frequency, and high penetrating power. However, the growing transition toward microwave/radar technology is likely to be observed by the end of 2029, set in motion by growing demand for continuous level measurement of bulk solids.

The oil and gas segment is anticipated to command for a significant pie of the global market share, on account of growing adoption in tank level monitoring, fuel & chemical injection and various other applications. Adoption of level sensors in waste and wastewater treatment applications is also likely to continue unabated, driven by the need of continuous monitoring of wastewater level in sewage treatment plants.

The report highlights some of the prominent market players, who have established themselves as leaders in the level sensor market. These leading players, with their ‘industry-best’ product portfolios, continue to set their course toward profitable growth through bespoke innovations and launch of new product models.

For instance, in 2017, Vega Grieshaber KG announced the launch of a new process sensor ‘PLICSCOM’ operating wireless. In 2016, Endress+Hauser AG announced the official launch of ‘tank gauging’ platform, a holistic monitoring & inventory control system for tank farms as well as terminals in the oil and gas, chemicals, and refining application units for bulk storage and transport of liquids & solids.

Mergers and acquisitions will also continue to hold a significant spot in the manufacturers’ agenda, given that these strategic alliances offer immense scope for growth via combined expertise and shared resource pools. For instance, in 2022, Rochester Gauges, LLC announced its official acquisition of FPI Sensors, which would further expand the market share of Rochester in the liquid level sensor space.

As the acquisition by Rochester continues to grow on its own legacy of offering high-quality products and industry-best customer service, Rochester would get greater access to a pool of untapped opportunities and reap benefits from them.

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Competitive Landscape

The global level sensor industry serves a highly fragmented competition landscape. The market is witnessing a trend of acquisition of small sensor technology vendors by the major players, along with the intense competition due to the demand for highly efficient products among the players. Product developments continue to be the key focal point of manufacturers in line with their key strategy to boost their market share holdings.

• ABB
• WIKA Group
• Emerson Electric
• Endress+Hauser AG
• Anderson-Negele
• SICK AG
• Aplus Finetek Sensor, Inc.

Level Sensor Market Survey By Category

By Technology:

• Ultrasonic
• Capacitance
• Conductive
• Pneumatic
• Vibratory Probe
• Optical
• Microwave/Radar
• Magnetostrictive
• Hydrostatic
• Magnetic and Mechanical probe

By Application Media:

• Solid
• Liquid

By Monitoring Type:

• Point Level
• Continuous Level

By Device Type:

• Contact Type
• Non-contact Type

By Industry:

• Chemicals & Petrochemicals
• Pharmaceutical
• Energy & Power
• Oil & Gas
• Waste & Wastewater Treatment
• Food & Beverages
• Others

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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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.

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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.

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.

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Product Type

• Standard Formula
• Specialized Formula

Indication

• General Well-being
• Renal Disorders
• Hepatic Disorders
• Oncology Nutrition
• Diabetes
• Dysphagia
• IBD & GI Tract Disorders
• Neurological Disorders
• Respiratory Orders
• Others

Form

• Liquid
• Semi-solid
• Powder

End User

• Adult
• Geriatric
• Pediatric

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