U.S. Clinical Nutrition Products Market size worth over USD 18 Bn by 2026
Published Date: February 5, 2020 Authors: Sumant Ugalmugle, Rupali Swain
U.S. Clinical Nutrition Products Market size is set to exceed USD 18 billion by 2026; according to a new research report by Global Market Insights, Inc.
An increased incidence of metabolic diseases such as diabetes, and hypercholesterolemia will drive the market growth. Increasing sedentary lifestyle, unhealthy habits such as junk food consumption and smoking will lead to growing rates of obesity and diabetes. These factors will boost the clinical nutrition industry demand over the forecast period.
Growing geriatric population across the globe is projected to boost the clinical nutrition products demand
Geriatric individuals show higher incidence of diseases which require parenteral nutrition. The U.S. population is poised to exhibit a high number of geriatric individuals due to increased lifespan. These factors will boost the market demand for clinical nutrition over the forecast period. Furthermore, growing incidence of chronic diseases, especially among the geriatric population will augment the market expansion over the future.
Increasing preference for home healthcare will drive the market growth
An increased preference for healthcare in the convenience of the patient’s home will boost the demand in U.S. clinical nutrition market. It includes formulations that a patient can administer parenterally in the comfort of their home. Furthermore, patients cite commute as one of the main reasons for medication non-compliance. Thus, manufacturers are catering to patients in their homes to boost compliance rates and improve patient health. Thus, an increased preference to home healthcare will boost the market expansion over the analysis period. However, the stringent government regulations regarding clinical nutrition products could hamper the market growth in the short run.
Browse key industry insights spread across 80 pages with 30 market data tables & 12 figures & charts from the report, “U.S. Clinical Nutrition Market Size By Product [Infant Nutrition (Milk Based, Soy Based, Organic), Parenteral Nutrition (Amino Acids, Fats, Carbohydrates), Enteral Nutrition (Standard Composition, Disease Specific Composition)], By Consumer (Child, Adult), Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The rise in number of premature births will boost the demand for infant nutrition in the future
The infant nutrition segment held market value of around USD 6.2 billion in 2019. According to the World Health Organization (WHO), U.S. had one of the highest number of preterm births at 517,400 births in 2017. This number is expected to rise in the future. Preterm babies require clinical nutrition support to meet their nutrient requirements. Thus, the rising number of premature births will drive the demand for infant nutrition products. Additionally, a rise in number of working mothers will boost the industry growth as they look to clinical nutrition as a viable alternative. Hence, the above-mentioned factors will propel the U.S. clinical nutrition products market growth over the forecast period.
Increasing consumption of junk food will positively impact the U.S. clinical nutrition market growth
By consumer the market is segmented into children and adults. The adult nutrition segment held market share of more than 42% in 2019 and will exhibit substantial growth over the forecast timeframe. The high growth can be attributed to the increasing consumption of junk food and the associated malnutrition. Furthermore, junk food has been linked to rising rates of obesity and diabetes in adults. An increasing number of adults are requiring clinical nutrition support due to digestive and appetite problems due to these diseases. Hence increasing consumption of junk food will boost the product demand in the market, propelling the clinical nutrition market revenue in U.S.
Companies are focusing on new product launches in order to capture market share
Some of the leading players in the U.S. clinical nutrition products market share include Abbot Laboratories, B Braun Melsungen AG, Baxter International, Danone, Fresenius Kabi, and Nestle Health. The market players are focusing on new product launches and acquisitions in a bid to expand their customer base and strengthen the revenue generation stream. For instance, in August 2019, Nestle acquired Persona, a market leader in personalized nutrition. This move will help Nestle in increasing their market penetration in the industry and boost their revenue generation.
Explore More on Related Topics: