Global Market Demands for Infant Clinical Nutrition Products Anticipates High Growth Until 2020
Published On : Jan 12, 2015
For years, malnutrition has been a widespread problem affecting the lives of millions, globally. Deficiency of essential nutrients in the body occurs to malnutrition and hence, the resort to overcome this condition for additional supplements and proper nourishment is indispensable.
Nutrition being the most significant aspect of the human diet helps in proper functioning of cellular and physiological activities of the body. In the wake of a number of victims of malnutrition not receiving proper treatment due to high birth rate, premature births and improper diets, the clinical nutrition market has been in focus across the global healthcare platform. The clinical nutrition market deals with the basic diagnosis, treatment of disease affecting the intake, metabolism of constituents of the diet, and intestinal absorption to promote good health to a human body and prevent diet-related diseases in them.
Browse: Global Clinical Nutrition Market
Drivers of the Global Clinical Nutrition Market
Recently, clinical products within the clinical nutrition market have dramatically emerged in the global market. The geriatric population especially needs these products. This is because aging individuals do not receive optimal amounts of nutrients in their bodies, and therefore they seek the need for additional supplements, in turn boosting the demand for clinical nutrition products across the globe.
Also, rising population of baby boomers is driving the consumption of clinical nutrition products in global markets. Increasing birth rate in several countries such as China, India, Europe, and North America have boosted the demand for clinical nutrition products, particularly the infant nutrition products. Today, the sales for infant formulas have increased substantially in most regions worldwide.
The treatment of malnutrition, growing number of premature births, rising consumer awareness about good wellbeing, health and healthcare cost, especially in North America, increasing home care through nutritional products, and lifestyle related diseases are some of the main reasons supporting the high and demanding growth seen in the global clinical nutrition market year-on-year basis.
Key Market Statistics of the Global Clinical Nutrition Market and its Segments
According to a leading research firm, the global clinical nutrition market was valued at US$36.9 billion in 2013. The market is moderately growing at a CAGR of 4.1% from 2014 to 2020 and is further estimated to reach a value of US$48.6 billion in 2020.
Under the product type, the global clinical nutrition market is broadly bifurcated into infant nutrition, enteral nutrition, and parenteral nutrition. The enteral nutrition segment is further divided into standard and enteral nutrition for chronic illnesses.
The infant nutrition segment helps in delivery of suitable nutrients to new born babies. Among the three sub-sectors, the infant nutrition segment holds the largest share of US$21.1 billion in the overall market in 2013. As the market is growing at a CAGR of 3.8% in the forecast period 2014 – 2020, the overall market is expected to reach US$27.1 billion in 2020.
The infant nutrition segment is further divided into four main types:
- Milk-Based Infant Nutrition
- Soy-Based Infant Nutrition
- Organic Infant Nutrition
- Probiotic/Prebiotic Infant Nutrition
In 2013, the milk-based segment was accounted as the largest segment. The market witnessed an increase by 4.2% CAGR during 2010 – 2013 in order to reach US$8.1 billion in 2013.
The majority of competitive participation in the clinical nutrition market takes place in the developed regions of the United States, Western Europe, and Asia-Pacific, including Japan, India and China.
As recorded in 2013, Asia Pacific was the largest market for clinical nutrition, accounting for 41.5% of the global market share. Asia-Pacific is expected to grow at a CAGR of 3.9% until 2020, due to increasing demand for clinical nutrition products from economies such as China and India.
Asia-Pacific is followed by Europe and North America with market share of 24.4% and 22.6% respectively. The market share of North America in the global clinical nutrition industry is expected to decrease to 21.3%, whereas that of Europe will increase to 25.4% by 2020, predict research analysts.
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