Global Clinical Nutrition Market is forecast to grow at a high rate due to increasing concern associated with health & diet, rise in prevalence of chronic diseases, and rise in the number of health-conscious consumers. The Global Clinical Nutrition Market was valued at USD 40.7 Bn in 2020 and is expected to reach USD 56.9 Bn by 2027, with a growing CAGR of 5.8% during the forecast period (2021-2027).
The driving factors influencing the growth of the global clinical nutrition industry include the growing popularity of probiotics & functional food products, rising applications of clinical nutrition in ambulatory care services such as renal dialysis, nutrition support, cardiac rehabilitation & community-based intervention programs, and an upsurge for optimal nutrition management. Growing product launches, increasing collaborations of pharmaceutical and biotechnological companies for research and rising adoption of post-hospital care practices & follow-ups boost the market growth.
For instance, in April 2020, Esperer Onco Nutrition launched a broad range of clinical nutrition products that are mainly developed and added to the diet of patients suffering from cancer. The emergence of the eCommerce sector in healthcare is expected to uplift the growth of the market during the forecast period. However, stringent regulatory policies for product launch hinders the growth of the clinical nutrition industry.
Growing innovation in clinical nutrition is expected to boom the growth of the industry across the globe. For instance, in 2020, AYMES International launched vegan oral clinical nutrition named “AYMES ActaSolve Smoothie” for nutritional diet management for the population who are at high risk of malnutrition. Moreover, the market for clinical nutrition products with omega-3s has aspects that are equivalent to dietary supplements and pharmaceutical markets.
Other clinical nutrition products such as enteral and parenteral products that have therapeutic applications require government approvals wherein medical foods that are used for nutritional management do not require similar levels of approvals. This creates an opportunity for key market players for the development of nutrition products. According to the survey, these products together accounted for more than 1,100 tons of consumption of DHA oil and EPA and $1.4 Bn of consumer spending globally.
The covid-19 outbreak is expected to witness positive impact on the growth of clinical nutrition industry due to rise in awareness and knowledge about clinical nutrition products and increase in demand for nutritional management, specifically among pediatrics & geriatric populations. The demand for clinical nutrition products in covid-19 pandemic is expected to rise more as consumers are seeking several types of immunity-boosting supplementary products to reduce their chances of getting infected.
Global Clinical Nutrition Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America dominated the growth of clinical nutrition industry due to availability of huge healthcare infrastructure, registry of substantial number of immature births and presence of large volume of chronic diseases. However, Asia-Pacific is expected to witness the fastest market growth with highest CAGR due to ongoing research on development for nutritional products and availability of enormous number of aging populations boost the growth of clinical nutrition industry.
The Global Clinical Nutrition Market Segmentation:
Global Clinical Nutrition Market by Route of Administration Outlook (Revenue, USD Million, 2021-2027)
Global Clinical Nutrition Market by Applications Type Outlook (Revenue, USD Million, 2021-2027)
Global Clinical Nutrition Market by Patient Type Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the Clinical Nutrition market are: