Clinical Nutrition Market share is poised to surpass USD 80 billion by 2024; according to a new research report by Global Market Insights, Inc. The world has been witnessing a continuous rise in the number of metabolic disorders and pre-mature deaths due to malnutrition. Clinical nutrition market expansion can be primarily credited to the aforementioned factors, as per research analysis.
Rising health consciousness and an escalating preference for home healthcare has led to swift improvements in clinical nutrition design & composition, which will ultimately push clinical nutrition market size. The pharmaceutical and food & beverage sectors are the major end-use domains that will experience a widespread usage of this product. Both the aforementioned sectors are growing with renewed gusto, which will generate lucrative avenues for the market players to expand their business and product portfolio.
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Considering the geographical trends, Asia Pacific industry, which contributed over 40% of clinical nutrition market share in 2015, is set to hit a targeted revenue of over USD 30 billion by 2024. Rising population, GDP growth, the high occurrence of chronic ailments, and an increase in the consumer purchasing power will impel the growth. India and China are slated to be major revenue pockets.
Latin America clinical nutrition industry is projected to surpass a revenue of USD 6 billion by 2024, registering a CAGR of more than 8% over 2017-2024. Mounting incidences of malnourishment coupled with improvement in healthcare services are predicted to contribute towards the industry revenue. Mexico and Brazil are slated to be key growth drivers of the region.
Browse key industry insights spread across 140 pages with 115 market data tables & 9 figures & charts from the report, “Clinical Nutrition Market” in detail along with the table of contents:
Germany and UK, both of which contributed to over 18% and 17% of Europe clinical nutrition industry revenue respectively in 2015, are also expected to make notable contributions toward the industry development in the future. Growing aging population along with high expenditure on healthcare activities will boost the growth.
U.S. clinical nutrition industry market, which was evaluated at USD 8 billion in 2015, is projected to record significant gains of over 6% during 2017 to 2024. Favorable compensation schemes and advanced healthcare infrastructure will drive the expansion.
Enteral nutrition, infant nutrition, and parenteral nutrition are some of the major products of clinical nutrition market. Infant clinical nutrition industry, which dominated the product landscape in 2015, is expected to register a CAGR of 9% over the coming timeline. A high birth rate in emerging economies along with the rise in the baby boomer population base affected by metabolic syndromes will propel the growth.
Parenteral clinical nutrition market, worth USD 4.2 billion in 2015, is anticipated to hit USD 7 billion by 2024. The growth can be attributed to rise in the frequency of chronic disorders such as diabetes, cancer, and HIV. Enteral clinical nutrition industry is predicted to reach the targeted revenue of more than USD 20 billion by 2024, growing at a rate of 5% over the coming seven years. The rising trend towards the enteral route of administering food among the patients along with new innovations in enteral feeding instruments will cater to the segment growth.
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The world has been witnessing a continuous rise in the number of metabolic disorders and pre-mature deaths due to malnutrition. Clinical nutrition market expansion can be primarily credited to the aforementioned factors, as per research analysis.
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