Clinical Nutrition Market Set to Double by 2030, Driven by Advancements in Personalized Medicine and Rising Incidence of Malnutrition
The global clinical nutrition market, valued at approximately US$35 billion, is poised for remarkable growth, with projections indicating that it will exceed US$70 billion by 2030. This forecast is based on a robust compound annual growth rate (CAGR) of 8% expected during the period from 2023 to 2030, according to a comprehensive report published Fairfield Market Research.
Key Market Trends Driving Growth:
- Advancements in Clinical Nutrition Science: The market is being propelled by advancements in clinical nutrition science, particularly in the field of nutritional genomics and personalized medicine. Customized clinical nutrition protocols based on individual genetic profiles and dietary requirements are enhancing the effectiveness of interventions, making personalized nutrition a significant growth driver.
- Rising Incidence of Malnutrition: The increasing prevalence of malnutrition, often due to diseases, surgeries, or the inability to consume regular meals, is a major factor driving the clinical nutrition market. Clinical nutrition is crucial in hospitals to meet the nutritional needs of patients and support their recovery.
- Lack of Knowledge Among Consumers and Healthcare Professionals: Despite its importance, a lack of awareness about the benefits of clinical nutrition among consumers and healthcare professionals presents a challenge. Better education and training are needed to promote the proper use of therapeutic nutrition products.
- Oral Clinical Nutrition Dominates: In 2022, the oral category dominated the industry, offering convenient and concentrated sources of calories, protein, and nutrients, particularly through nutritional bars. These products are popular for on-the-go nutrition and are used by athletes, individuals with higher calorie needs, and those in need of immediate nutritional support.
- Neurological Disorders Lead the Way: The neurological disorders category was the dominant segment in 2022. Customized nutrition plans are essential for individuals undergoing neurological rehabilitation, such as those recovering from traumatic brain injuries or spinal cord injuries.
- Growth in the Adult Category: The adult category is expected to see significant growth during the forecast period, as pregnant and nursing women require specialized nutritional advice, and clinical nutrition is essential for ensuring appropriate nutrient intake during various life stages.
- North America Leads, Asia Pacific Grows Rapidly: North America is expected to dominate the clinical nutrition market during the forecast period, driven by the adoption of telehealth and digital health solutions, making clinical nutrition services more accessible. Meanwhile, Asia Pacific is poised to be the fastest-growing region, with companies offering innovative clinical nutrition products tailored to the nutritional and cultural needs of Asian consumers.
Opportunities and Challenges:
- Plant-based Clinical Nutrition: Growing consumer demand for plant-based clinical nutrition products is driven by health consciousness and dietary preferences. These products cater to vegetarians and vegans, offering allergen-free options.
- Telehealth and Remote Monitoring: Telehealth platforms are making clinical nutrition consultations more accessible, especially in remote areas, enhancing patient involvement in healthcare.
- Nutritional Support in Critical Care: Critical care patients often have specialized nutritional needs, and clinical nutrition support can significantly impact their healing and outcomes.
- Regulatory Framework: Strict regulatory frameworks govern the clinical nutrition market, ensuring the safety and effectiveness of therapeutic nutrition products. Compliance with regulatory requirements is crucial for market entry.
Competitive Landscape:
The global clinical nutrition market is characterized by consolidation, with a few well-established companies competing to gain market share. Leading companies are introducing new products and improving distribution systems to strengthen their positions in the market.
Global Clinical Nutrition Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -(By Route of Administration Coverage, By Application Coverage, By End User Coverage, By Geographic Coverage and Leading Companies) https://www.fairfieldmarketresearch.com/report/clinical-nutrition-market
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COMTEX_443612978/2840/2023-11-17T06:21:31
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