The spread of COVID-19 is anticipated to boost the market for clinical nutrition.
According to the latest Arizton's market research report, the clinical nutrition market size reached around $51 billion in 2019, growing at a CAGR of over 8% during the forecast period.
Impact of COVID-19 on the Clinical Nutrition Market
The rate of hospitalization due to the COVID-19 pandemic was much higher among the geriatric population. Diabetes was one of the major risk factors for increased morbidity and mortality among people infected with the coronavirus. Variable glycaemic control, poor glycaemic legacy, the burden of end-organ damage, impaired, and altered immunity all contribute to poor clinical outcomes in people living with diabetes. Hence to ensure positive outcomes for patients infected with coronavirus requires maintaining the diabetic level and provided with clinical nutritional supplements. Thus, the spread of COVID-19 is anticipated to boost the market for clinical nutrition. The global clinical nutrition market is expected to witness a growth of 12% in 2020, due to the outbreak of COVID-19.
Clinical Nutrition Market Growth
The major factors driving the growth of the clinical nutrition market include growing geriatric population, increasing incidences of malnutrition among hospitalized patients, and the prevalence of communicable and non-communicable chronic diseases such as diabetes and obesity. Further, the growing number of premature births and the rising demand for specialized infant formula are also contributing to the market growth. Further, as an impact of COVID-19, the medical nutrition market is also expected to witness rapid growth in 2020 and 2021. Nutrition supplementation for cancer patients is expected to witness the fastest growth during the forecast period. North America accounted for the second-largest medical nutrition market, contributing 29% of the revenues in 2019. The US is the largest revenue contributor in the region and is primarily driving the market growth.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by route of administration, age group, application, end-users, distribution, and geography.
- Competitive Landscape – 5 Key Company Profiles and 19 Other Prominent Vendors
Clinical Nutrition Market – Geographical Analysis
APAC is the largest market for clinical nutrition across the globe, accounted for approximately 45% share in 2019. The major factors contributing to the growth of the clinical nutrition market in the APAC region includes an increased prevalence of metabolic disorders, a rise in geriatric population, and high expenditure on healthcare. Furthermore, the increasing burden of diseases and the growing number of people suffering from diabetes and cancer is also expected to positively drive market growth during the forecast period. The clinical nutrition market in Europe accounted for a share of over 16% in 2019 and is expected to grow at a CAGR of around 7%. The major factors attributing to the growth of the market are the increasing prevalence of metabolic disorders and high spending on healthcare. Germany, the UK, France, Spain, and Italy are some of the major markets for clinical nutrition in this region.
The global clinical nutrition market is highly competitive, with the presence of a large number of significant vendors. The increasing demand for clinically proven formulas and scientific research is the major differentiating factor in the market that can substantially increase the level of investment required. The global clinical nutrition market is becoming highly consolidated, with a rising number of mergers and acquisitions occurring in the global market. Abbott Laboratories, Danone, Nestle Health Science, Baxter International Inc., and Braun are the key company profiles operating in the market.
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