The global clinical nutrition market size is expected to reach $70.8 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030. This can be ascribed to the increase in the geriatric population, the surge in the number of victims of malnutrition, a high birth rate and a large number of premature births, and a rise in the incidence of cancer and central nervous system diseases.
In 2021, the infant nutrition category accounted for a sizeable portion of revenue in the market. For the first six months after birth, newborns should be breastfed in order to ensure optimal growth and development. Additionally, it is important to give a newborn the right amount of nutrients, as these are crucial for a baby's appropriate development and health during the first three years of life.
These dietary standards must be met by the newborn nourishment products. Any deficiency during the first year of a baby's life can result in growth and developmental delays as well as a higher risk of infection, blindness, and anemia. In cases of premature birth, the significance of newborn nutrition is greatly increased. Also, when women are unable to breastfeed their children or decide not to do so because of illness or other reasons, infant formulas are suitable alternatives for breast milk.
Enteral nutrition is a type of nutrition that is particularly delivered in the form of fluid into a person's digestive system. The most well-known kind of enteral nutrition is tube feeding. People who are unable to satisfy their wholesome needs with food and liquids and who are at risk of experiencing uncontrollable vomiting or loose stools may be administered tube feeding. Thus, this category is expected to witness significant growth in the coming years.
People who are unable to eat, digest, or absorb nutrients can be administered parenteral nourishment if their daily nutritional needs cannot be satisfied through the usual digestive tract. Parenteral nutrition is the term used to describe intravenous feeding and nutrient delivery in the form of a solution that is administered directly into the bloodstream using a specialized catheter and tubing. In order to prevent complications or adverse responses, parenteral medicinal nutrition therapy necessitates routine examination and monitoring.
In situations, including fatal burns, cancer, gastrointestinal conditions, and AIDS, parenteral nourishment may become essential. Some of the key reasons fueling the clinical nutrition market growth, thus; the rising elderly population and the creation of new products intended for homecare settings.
Consumers prefer using online distribution channels. Thus, this category will grow at a CAGR of about 10% during the forecast period. One of the main reasons why online sales platforms are so popular is their convenience and cost-effectiveness. To meet customer expectations, a number of suppliers are establishing online platforms. These platforms also offer quick support, good online interfaces, and thorough product information, which help in raising consumer demand. Also, consumers' intentions and decisions regarding purchases are influenced by price and promotion information on online platforms.
The pharmacies and drug stores category dominates the market. This is ascribed to accessibility, brand recognition, and ease of availability of clinical nutrition products in these stores.
Some of the key players in the market are Abbott Laboratories, Nestlé S.A., Perrigo Company plc, Danone S.A., Pfizer Inc., Reckitt Benckiser Group plc, and Kraft Heinz Company.