Major players in the clinical nutrition market are Abbott Laboratories, Nestlé SA, Baxter Healthcare Ltd, B. Braun Melsungen AG, Perrigo Company Plc, Hospira, Fresenius Kabi, Danone, Pfizer, and Mead Johnson Nutrition Company.
New York, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Clinical Nutrition Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151687/?utm_source=GNW
The global clinical nutrition market is expected to grow from $40.58 billion in 2020 to $43.73 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $58.98 billion in 2025 at a CAGR of 8%.
The clinical nutrition market consists of sales of clinical nutrition interventions and related services by entities (organizations, sole traders and partnerships) that produce nutritional products that are used in the treatment of diseases related to malnutrition, restoring body tissue, and boosting energy and immunity in the body. Clinical nutrition helps in keeping the patient healthy by providing the required amount of nutrients such as proteins, vitamins, and minerals.
The clinical nutrition market covered in this report is segmented by product into infant nutrition, parental nutrition, enteral nutrition. It is also segmented by route of administration into oral, enteral, parenteral; by application into cancer, neurological diseases, gastrointestinal disorders, metabolic disorders, others and by the end user into pediatric, adults, geriatric.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Stringent government regulations are expected to hamper the growth of the clinical nutrition market.The increasing use of dietary products raised public health concerns about their efficacy and safety in both short and long terms.
The most frequent concerns with nutritional products include intentional adulteration, contamination, and incorrect reporting on the claimed content by the manufacturers, which may lead to serious health hazards.To ensure public health safety, strict regulations have been initiated by major international and national bodies.
Manufacturers are responsible to give appropriate label information, composition and use of products, and ensure the safety of their products under the intended conditions of use, as required by the authorities such as Central Drugs Standard Control Organisation (CDSCO) in India, European Medicines Agency (EMA) in Europe, and Food and Drug Administration (FDA) in the United States.Manufacturers must follow cGMPs with registration and periodic inspection of facilities and mandatory adverse event reporting.
These stringent government regulations are limiting the overall growth of the clinical nutrition market.
In February 2020, Kerry Group, an Ireland-based food and nutrition company, announced the acquisition of the plant-based protein company Pevesa Biotech for an undisclosed amount.The acquisition is intended to enhance Kerry’s position for specialized nutrition in the hydrolyzed plant protein space and expand the company’s capacity to serve the rapidly growing organic plant protein market.
Pesava Biotech is a Spanish biotechnology company that specializes in non-GMO, general, non-allergic, and clinical nutrition products.
The rising geriatric population is anticipated to boost the growth of the clinical nutrition market.The clinical nutrition needs of elderly people are determined by several factors including specific health conditions and associated impairment of the organ system, the level of activity, energy consumption and caloric requirements of an individual, the capacity to access, prepare, consume and digest food, and personal dietary preferences.
According to World Population Prospects 2019 (United Nations, 2019), one in 11 people was over the age of 65 and this number is expected to increase to one in six people by 2050, globally.Clinical nutrition problems in the elderly are related not only to multiple drug use but also to the consumption of specialized diets for one or more chronic illnesses.
Thus, the growing geriatric population is anticipated to drive the market growth.
Major players operating in the industry are undergoing strategic initiatives such as increasing production capacity and expanding global presence.For instance, in May 2020, ESI Nutrition, a division of the dairy cooperative Laita, announced a new production line that is fully operational at the Ploudaniel’s facility and is the first commercial plant.
ESI Nutrition also wanted to expand the range of formats available to its customers and released two new bottle sizes: 70ml and 90ml, smaller than the existing options.The new bottles are compact and perfect for ESI Nutrition’s flagship product “nourettes”, which are liquid infant formula pre-packaged in ready-to-use baby bottles with a dedicated screw top and adapted teat, handed out in maternity wards.
These are designed ergonomically to be easier to manage and are also transparent, to keep a track of the consumption level.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151687/?utm_source=GNW
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