Clinical Nutrition Market Trends, Size, Share and Demand Forecast to 2022
The global clinical nutrition market was valued at $39,339.4 million in 2015, and it is expected to grow at a CAGR of 5.4% during 2016 - 2022.
The factors driving the growth of the global market include increasing geriatric population, high birth rate and high number of premature birth, surge in the number of victims of malnutrition receiving treatment, surging incidence of lifestyle associated disease, and increasing incidence of cancer and central nervous system diseases. Malnutrition is a widespread problem, affecting the lives of millions of people globally. It is a condition that occurs due to deficiency of essential nutrients in the body. In 2010, around 40% of all hospital patients globally were malnourished. Clinical nutrition is the most efficient way to treat malnutrition and helps in avoiding associated costs. In Europe, around one-third of all hospital patients were malnourished in 2012. The increase in the number of victims of malnutrition globally, is expected to result in an increased usage of healthcare resource due to the longer stays in hospitals. As per an article of 2012, the malnutrition cost European government up to USD 237.0 billion a year; while the clinical nutrition accounted for about 2.5% of the cost involved with malnutrition.
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The increasing incidence of cancer and central nervous system (CNS) diseases is driving the growth of the global enteral nutrition market. Enteral nutrition products are considered to be one of the best alternatives during the treatment of cancer and CNS diseases, to avoid nutrition deficiency in human body, for optimal functioning of various organs. Cancer can change the metabolism of nutrient uptake in patient’s body, therefore they require good nutrition. Cancer may lead to malnutrition and weight loss; therefore, patients are required continuous nutrient feeding. Enteral nutrition is one of the best solutions to the problem. According to the WHO, there were 14.1 million new cancer cases, 8.2 million cancer deaths and 32.6 million people living with cancer (within 5 years of diagnosis) in 2012 globally. The organization also reported that 57% (8 million) of new cancer cases, 65% (5.3 million) of the cancer deaths and 48% (15.6 million) of the 5-year prevalent cancer cases occurred in the less developed regions.
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Among the three products, the infant nutrition segment held the largest share in the global clinical nutrition market in 2015. Infant formula products are widely available at supermarkets and through other retail channels. Infant formula is generally available in three formats, including powder, liquid concentrate, and ready-to-feed. Powder and liquid concentrates are generally less expensive, and require mixing or dilution prior to use. On the other hand, ready-to-feed formula is the most convenient format available in the market, and does not require to be diluted with water. However, these formulas are more expensive, as compared to powder and liquid concentrate formulas. Some major companies operating in the infant nutrition market include Mead Johnson, Abbott Laboratories, Nestle S.A., and Groupe Danone.
Some of the major players operating in the global clinical nutrition market include Baxter International Inc., Abbott Laboratories, B. Braun Melsungen AG, Nestlé S.A., Groupe Danone, Mead Johnson Nutrition Company, Fresenius Kabi AG, and Perrigo Company Plc.
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Sep 14, 2016