The Global Medical Nutrition Market 2020 is expected to reach USD 52.39 billion by 2023 and grow at a CAGR of 5.0% over the forecast period (from 2018 to 2023).
The clinical nutrition market trends report asserts that the increased occurrence of diseases that need additional nutrients and increased population awareness of the benefits of medicated foods and beverages are the main factors impacting the growth of this market. The shortage of sufficient nutrients has resulted in shifting habits such as daily smoking, alcohol, longer working hours and dependence on fast food, which is also one of the factors contributing to the rise of the market for the medical nutrition industry. High price and important reimbursement policies adopted by the governments of different countries are however the factors that hinder business growth.
With the increasing geriatric population, it is anticipated that spending on medical nutrition therapy will increase in the future. Due to the frail digestive framework in old age, it becomes hard for the human body to assimilate all the essential nutrients from food. The lack of appetite among the geriatric community is considered a significant widespread concern, such that the elderly population does not get the essential amount of nutrients.
In most countries, healthcare spending continues to grow faster than economic growth, maintaining a trend observed over the decades. As healthcare spending increases among the world's major countries, the market is therefore expected to see high growth due to its broad applicability.
Global clinical nutrition has been segmented into type, type of product, application, administration route, and channel of distribution.
Based on type, paediatric nutrition, elderly nutrition, parenteral nutrition, and sports nutrition were segmented into the medical nutrition market.
The medical nutrition market has been segregated into amino acid solutions, various vitamins, antioxidants, lipid emulsions, trace elements, and chamber bags based on the product type.
The medical nutrition market has been broken down into parenteral, oral, and others based on the route of administration.
Cancer, pulmonary diseases, gastrointestinal diseases, diabetes, obesity, paediatric malnutrition, renal failure, and neurological diseases were classified according to the application.
Hospitals, retail pharmacy, compounding pharmacy, and e-commerce websites were categorised based on the distribution channel.
For the sake of the clinical nutrition report, the global medical nutrition market is split into the Americas, Europe, the Asia-Pacific, and the Middle East & Africa.
In the global market for medical nutrition, the American region holds the largest share. In North America, the US is anticipated to lead the market. The increase in the geriatric population is leading to many illnesses and disorders. Demand for the medical nutrition market is therefore expected to grow over the forecast period.
Europe accounted for the second-largest market share; however, 4.5 percent of the CAGR is expected to be the fastest-growing region in the Asia-Pacific during the forecast period. Asia-Pacific has the highest growth in the forecast period, compared to the other regions. Increases in the prevalence of metabolic disorders, an increase in the geriatric population in the Asia Pacific region, and high spending on healthcare are major factors attributable to the growth of the Asia Pacific clinical nutrition market. The incidence of diabetes in China is also growing steadily, which is a major factor in obesity. Over the past decade, the real number of patients diagnosed with metabolic disorders has increased, so the number of patients diagnosed has risen in the Asia Pacific region.
AYMES Nutrition International Ltd. (UK), Primus Pharmaceuticals (US), Abbott Nutrition (US), NeoMed (US), Baxter International (US), Nutricia Advanced Medical Nutrition (Netherland), Danone (France), Mead Johnson & Company, LLC. (US), Solace Nutrition (UK), B. Braun Melsungen AG (Germany), and Nestlé Health Science (Switzerland), are some of the major players operating in the global medical nutrition market.
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