Clinical nutrition market to secure phenomenal gains via infant nutrition products, supportive initiatives by regulatory bodies to augment the industry growth over 2017-2024
One of the key factors that has had a pronounced impact on the growth of clinical nutrition market in recent times is the ever-growing geriatric population. Given that most of this population is susceptible to chronic conditions such as diabetes and cancer, proper intake of nutrition & other healthy foods has engraved a rather imperative hold in the lives of patients. The increasing patient awareness pertaining to the health benefits of proper nutrition intake is thus set to transform clinical nutrition market outlook. The worldwide clinical nutrition industry size was pegged at USD 43.9 billion in 2016.
China Clinical Nutrition Market, By Product, 2013 – 2024(USD Billion)
Powered by the growing number of regional governmental initiatives to introduce nutritional awareness programs and upgrade overall patient care fraternity however, clinical nutrition market is expected to traverse alongside a highly lucrative growth path in the forthcoming years. Untapped economies in this regard are likely to get much of attention compared to other geographies, given the vigorous steps taken by food & regulatory bodies in providing nutritional information.
An instance validating the authenticity of the above-mentioned fact is that of the Amref Health Africa that has partnered with Nutritional International to fight nutritional deficiencies across the region. Through their Nutritional Leverage for Transformation model, the organizations intended to provide nutritional benefits to people across the countries in Africa. Reportedly, the investment is anticipated to reach over 10 million of direct & indirect beneficiaries that will include children, adolescent girls, health workers & adult women in Kenya, Uganda, Zambia and other regions.
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If industry experts are to be believed, the partnership will ensure that the masses will have access to important nutritional education & inventions, in turn amplifying the chance to improve overall health status. On account of the strong presence of organizations, the regional sales of nutritional supplements are poised to witness a significant high in the years to come. The involvement of other organizations such as the South African Society for Enteral and Parenteral Nutrition for promoting clinical nutrition practices will support the growth of the regional clinical nutrition market.
Analyzing the current demographics of the clinical nutrition sector, malnourishment in a crucial glitch observed in infants & pre-maturated babies. A fact that further sheds light on the seriousness of the situation has been provided by WHO in 2017 that claims over 15 million babies to have a preterm birth every year on a global scale. In order to further counter balance the growing number to pre-matured births, several regulatory bogies & governmental agencies are focusing on spreading awareness as well as introducing new infant nutritional products in the market.
Nestlé, the food giant, has long since backed WHO’s initiative of supporting exclusive breastfeeding of infants. Having been touted as the world’s biggest infant formula marker, Nestlé is actively supporting & recommending breastfeeding exclusively for first six months and then following it up through adequate nutritional complementary foods. NESTUM® Infant Cereal, KLIM, and GERBER® are among some of the company’s wide portfolio of infant nutritional formulas that it has introduced to encourage the right amount of essential nutritional intake for babies.
The supportive participation of regional players coupled with governmental efforts have further led to infant nutrition emerging as a prominent product segment in clinical nutrition industry. In fact, reliable reports state that the robust demand for infant nutritional products such as milk-based nutritional formula, has empowered this segment to hold the largest revenue share of the global clinical nutrition market in 2016. Infant nutrition segment is further forecast to follow similar growth pattern over 2017-2024.
Analysts deem that clinical nutrition market, thriving on the cusp of a growing elderly population and the incidences of chronic diseases, has registered its name in the billion-dollar fraternity since long and is emerging as one of the lucrative verticals of healthcare. Furthermore, the growing trend of incorporating nutritional foods & dietary supplements into modern lifestyles is likely to chart out a profitable roadmap for this business sphere down the years. According to a research report by Global Market Insights, Inc., the global clinical nutrition market is anticipated to surpass a valuation of over USD 80 billion by 2024.
Author Name :Ojaswita Kutepatil