Asia-Pacific is expected to register highest CAGR during 2028, and the Govt. of Asian countries are investing in the development of healthcare infrastructure
According to a new report published by Allied Market Research, “Clinical Nutrition Market by Administration, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028,” the global clinical nutrition market was valued at $32,495.97 million in 2020, and is projected to reach $51,128.26 million by 2028, registering a CAGR of 6.1% from 2021 to 2028.
Some of the key players operating in the clinical nutrition market in the report include Abbott Laboratories, B. Braun Melsungen AG, Danone Nutricia, Baxter International Inc., Fresenius SE & Co. KGaA, Perrigo Company plc, Pfizer Inc., Lonza Ltd., among others. Nestlé S.A., and Hero Nutritionals Inc. and others.
Increase in prevalence of metabolic disorders, high expenditure on healthcare and growth of middle class in emerging economies is expected to drive the market growth during the forecast period. Further, increasing number of geriatric population and development of specific clinical nutrition products for geriatric population is expected to drive the market growth.
Asia-Pacific is expected to register the highest CAGR during the forecast period, as the governments of Asian countries are investing in the development of healthcare infrastructure.
Demand for clinical nutrition products is increasing during the ongoing Covid-19 crisis, as consumers are looking for a variety of immunity-boosting options to prevent infection from the novel coronavirus. Furthermore, patients suffering from SARS-CoV-2 are nutritionally deficient, requiring the use of clinical nutritional products. Since the advent of the Covid-19 pandemic, there has been a huge demand for nutritional supplements, which has boosted the global market over the past few years.
By application, the gastrointestinal disorders and metabolic disorders segments together accounted for about 67.5% of the clinical nutrition market in 2020, up from a previous share of about 36.7% in the global clinical nutrition market from 2020 to 2028.
The enteral segment is expected to grow at a CAGR of 7.30% during the analysis period.
The pediatric and geriatric segment accounted for the largest share of around 79.6% in 2020 and is expected to maintain its dominance throughout the forecast period.
The Asia-Pacific market is expected to experience a CAGR of 7.20% during the forecast period.