The clinical nutrition market was estimated to be valued at USD 51,775. 3 million in 2020, and it is expected to reach USD 73610. 31 million in 2026, registering a 6. 04 % CAGR during the forecast period.
New York, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Clinical Nutrition Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06187392/?utm_source=GNW
COVID-19 infection has become a major public health concern, and clinical nutrition plays a crucial role in preventing infection and treating infection-associated malnutrition. For instance, the European Society for Clinical Nutrition and Metabolism issued guidelines related to nutritional management in ICU patients infected with COVID-19. Thus, a positive impact can be expected on the market studied due to COVID-19.
Certain factors are propelling the clinical nutrition growth of the market that includes the increasing prevalence of metabolic disorders, high spending on healthcare, and the rise of the middle class in the emerging economies. Over the past decade, the prevalence of metabolic disorders has increased. According to the study of Global Coalition on Aging, November 2020, the prevalence of malnutrition in the patient hospitalized was around 31%. According to the Global Surgery Foundation, nearly 30% of worldwide diseases can be treated with surgery and require the direct care of a surgeon. Clinical nutrition plays a major part during surgeries to minimize any adverse consequences to patients and enable the surgeons to work in a controlled environment. Thus, with the rising burden of diseases and the volume of surgeries, the clinical nutrition market is expected to boost during the forecast period.
Furthermore, as per the World Ageing Population report, in 2020, about 727 million people worldwide were aged 65 years and above. This number is further expected to reach 1.5 billion by the year 2050. The elderly population is often susceptible to acquiring chronic diseases, leading to surgeries. In July 2020, Goodmills Innovation introduced ’’Spermidino EVO’’, a wheat germ concentrate which is specifically developed for immunity-boosting in the aging population. Hence, the growing number of the elderly population and the development of clinical nutrition products specific to the aging population are expected to boost the market growth.
Key Market Trends
Nutritional Support for Metabolic Disorders is Expected to Have the Fastest Growth in the Route of Administration Segment
People suffering from metabolic disorders such as diabetes are at high risk of acquiring COVID-19 infection. According to the International Diabetes Federation, people with pre-existing medical conditions such as diabetes and obesity are more prone to be infected with the SARS-CoV-2 virus due to compromised immune systems in these individuals. Additionally, treating diabetic patients infected with COVID-19 would turn out to be difficult as the virus tends to grow immensely in elevated blood sugar levels. Controlling the blood sugar levels is of utmost importance in treating COVID-19 infected patients, and thus, nutritional support plays a vital role in this context, thereby aiding in the growth of the segment.
Furthermore, the rising burden of metabolic disorders is also increasing the demand for clinical nutrition. According to International Diabetes Federation, about over 425 million people are living with diabetes, and this number is expected to reach 700 million in 2045. Hence, the growing burden of metabolic disorders and the introduction of new products to the market are expected to fuel this segment. Also, the growing product launches are expected to propel market growth. For instance, as a result, in February 2020, Galen launched an innovative medical food PKU EASY Microtabs, for people living with the rare, inherited metabolic disorder phenylketonuria (PKU).
North America Holds the Majority Share in the Clinical Nutrition Market and is Expected to Follow the Same Trend over the Forecast Period
North America contributes heavily to the market growth in comparison to the other regions. The emergence of COVID-19 has led to the shortages of clinical nutritional products in this region. As per the data provided by the American Society for Parenteral and Enteral Nutrition (ASPEN), as of January 2021, certain parenteral products, including multi-vitamin infusion (adult and pediatric), amino acids, potassium acetate injection, USP, sodium acetate injection, USP, and sodium chloride, 23.4% of injections are currently at a shortage.
In order to meet the evolving demands driven by new consumer buying behavior in the midst of the COVID-19 pandemic, manufacturers have increased production and are working with retailers and government agencies to help ensure adequate availability of and continued access to oral clinical nutrition products.
Furthermore, some of the primary factors attributing to the growth of the clinical nutrition market include an increase in the prevalence of metabolic disorders and a rise in the geriatric population. According to the Centers for Disease Control and Prevention, the obesity rate among the US population was estimated to be around 42.4% in 2017-2018. As per the statistics of the Center for Disease Control and Prevention, cancer and cardiovascular diseases are among the major burdens of the US healthcare sector. According to the data of the American Heart Association, in 2017, around 8,59,125 Americans died due to cardiovascular diseases. Hence, such instances indicate a rising demand for clinical nutrition products, thereby driving market growth.
The market players are continuously engaged in expanding their presence in the market through various inorganic growth strategies, such as acquisition, merger, strategic collaboration, and others, to gain significant market share and strengthen their product portfolios. In September 2019, Nestle SA launched an innovative drink, “Boost Soothe,” in the market. It is a clinical nutritional drink specially designed for cancer patients.? Some of the key players in the market are Abbott Nutrition, Nestle Health Science, Baxter Healthcare, B. Braun Melsungen AG, Nutricia, and BASF SE.
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