The global clinical nutrition market has been estimated at USD 44,554 million in 2017. The market is expected to register a CAGR of 5.8% during the forecast period, 2018 to 2023. Asiapacific accounted for the largest market, while North America is the next to AsiaPacific in the clinical nutrition market.
High Spending on Healthcare
Healthcare spending continues to grow faster than economic growth in most countries, maintaining a trend observed over decades. The presence of equitable, responsive, and efficient health systems across the countries of North America, Europe, United Kingdom, and AsiaPacific has also contributed to the maximum share of GDP for healthcare expenditure. The United States Government spends the largest in healthcare. In 2014, the United States spent nearly USD 3 trillion on healthcare, with advanced healthcare facilities, high cost of treatments and high healthcare awareness being the major reasons. As the healthcare spending increases worldwide among major countries of the world, along with the prevalence of metabolic disorders, rising aging population and rise of middle class in the emerging economies are driving the clinical nutrition market.
Due to Lack of Awareness
Marketing of clinical nutrition products is one major hurdle for the growth of the clinical nutrition market. The general perception about clinical nutrition poses a big challenge in communicating the nutritional products developed to treat or prevent diseases like diabetes, Alzheimer's and obesity, among others, as people perceive that nutritional products are only for malnourished people and not for prevention or treatment of diseases. Marketing for these diseasespecific nutritional products is challenging for the marketers in the clinical nutrition market. Along with the factors such as lack of awareness among the people and the nature of government coverage/reimbursement across countries are restraining the market.
AsiaPacific to Dominate the Market Growth
AsiaPacific is the largest geographical market, which is currently valued at USD 18,614 million in 2017 and is also expected to grow at a highest CAGR of 6.94%. China is the largest market segment of the AsiaPacific region, valued at USD 7,290 million in the year 2017. However, India is the fastest growing segment of this region. And North America region is the next to the AsiaPacific region.
Key Developments in the Market
January 2018: French dairy firm Lactalis has to recall millions of powdered milk products off the shelf after a salmonella scare at a French diary firm. This is expected to create opportunities for new entrants in the clinical nutrition market.
January 2018: Fresenius Kabi and ASPEN The American Society for Parenteral and Enteral Nutrition are creating awareness among clinicians who provide nutrition support
by launching video series that highlights the best practices for dosing, preparing and administering intravenous lipid emulsions ILE.
Key Players: ABBOTT NUTRITION, NESTLE HEALTH SCIENCE, BAXTER HEALTHCARE, B. BRAUN MELSUNGEN AG, NUTRICIA, MEAD JOHNSON, PERRIGO COMPANY PLC, FRESENIUS KABI
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Current and future clinical nutrition market outlook in the developed and emerging markets
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The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
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