With increasing geriatric population, spending on clinical nutrition is anticipated to increase in future. Due to weak digestive system at older age, it is difficult for human body to absorb all the required nutrients from food. Among geriatric population, the loss of appetite is considered to be the most common problem. Due to this, the population of baby boomers does not get the sufficient amount of nutrients. In order to get sufficient nutrients, the dependency of the geriatric population towards clinical nutrition support is increasing. The global clinical nutrition market is increasing due to high birth rate, rise in the number of victims of malnutrition receiving treatment, and high number of premature births.
The positive impact of rising global baby boomers population is anticipated to remain medium in the next few years as with improving health standards, the life expectancy is anticipated to increase. The impact of high birth and premature birth rate is anticipated to increase in the future. Due to better facilities and awareness, the number of premature fatal deaths is anticipated to decrease. Increasing demand for clinical nutrition in infant category is anticipated to provide further growth opportunities for the clinical nutrition market.
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The restraints associated with the clinical nutrition market include stringent regulations and lack of awareness, which are hindering the market growth. At the same time, increasing demand for clinical nutrition in pediatric category is emerging as a potential opportunity for the global clinical nutrition market. Increasing home care usage of nutritional products is expected to create new demand for clinical nutrition market during the forecast period.
The global clinical nutrition market grew from $33.3 billion in 2011 to $37.6 billion in 2014. The market is further expected to reach $50.9 billion by 2020, growing at a CAGR of 5.3% during the period 2015 – 2020. By region, the Asia-Pacific clinical nutrition market (largest market in 2014) increased by 4% CAGR during 2011-2014 to reach $15.1 billion in 2014. Based on product, the infant nutrition segment accounted 57% share (the largest share) in the global clinical nutrition market in 2014; and it is expected to reach $28.2 billion value in 2020, growing at a CAGR of 4.8% during the period 2015-2020.
Increasing birth rate paired with increasing geriatric population is driving the clinical nutrition market in the Asia-Pacific region. High birth rate nations, such as India and China, are anticipated to fuel the demand for clinical nutrition products, especially infant nutrition products. In 2012, birth rate in India and China was 21.0 per thousand people and 12.0 per thousand people respectively, compared to 9.0 per thousand people in Germany and 8.0 per thousand people in Italy. Moreover, the population of senior citizen (aged 65 years and above) in Asia-Pacific was around 288.0 million in 2010. The total number of population of senior citizen in Asia-Pacific is expected to reach 911.0 million by 2050. Japan has the largest old age population in Asia-Pacific. It is expected that one out of 2.5 people in Japan would be over 60 years by 2050. Major companies operating in the Asia-Pacific market are Nestle, Mead Johnson, Abbott, Danone, and Fresenius Kabi.
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The key companies operating in the global clinical nutrition market include Baxter International, Inc., Abbott Laboratories, B. Braun Melsungen AG, H. J. Heinz Company, Groupe Danone, Mead Johnson Nutrition Company, Fresenius Kabi AG, Hospira, Inc., Nestle SA and Perrigo Company Plc.
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