Market For Clinical Nutrition Worth Around US$ 87 Billion by 2026
The global clinical nutrition market is expected to grow at significant CAGR around 8.5% throughout the forecast period and reach around US$ 87 billion by 2026.
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According to the report named ldquo;Clinical nutrition Market- Global Industry Analysis, Growth, Share, Size, Trends and Forecast, 2018-2026rdquo;, growing number of people suffering from chronic diseases such as diabetes and cancer, growing demand for better and accurate diagnostic procedures, growth in the obese population, rising awareness towards the health related concerns, enhanced healthcare system, various research and development activities, and initiatives taken by favourable governments are some of the key factors that are fuelling the clinical nutrition market growth across the globe. North America is anticipated to witness the highest growth rate over the forecast period owing to the availability of wide range of various better and accurate disease diagnostic methods, early adoption of various advanced diagnostic methods and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional clinical nutrition market.
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Rising Occurrences of Chronic Diseases and Ease of Availability of Various Clinical Nutrition Solutions to Drive the Global Clinical nutrition Market Growth
Rising occurrences of various chronic diseases such as diabetes, cancer and various initiatives taken by favourable governments are some of the fundamental factors driving the global clinical nutrition market growth. Growing prevalence of chronic diseases and lack of nutrients are anticipated to increase the growth of clinical nutrition prescriptions and also create immense opportunities for the global clinical nutrition market over the forecast period. The growing demand for improved and accurate diagnostic procedures due to the growth in prevalence of the various diseases is projected to boost the adoption of clinical nutrition methods throughout the forecast period. Several initiatives in order to decrease the cost required to cure these diseases is also anticipated to supplement the overalls market growth during the forecast period. Ever increasing obese population owing to the unhealthy nutritional habits and lack of physical activities are expected to further spur the overall market growth. A large number of aged people suffer from various digestive and appetite problems, and this needs nutrients supply through enteral or parenteral route, thereby, boosting the market growth. Malnourishment is the major issue generally occurred in pre mature babies. Rising number of pre-mature babies across the globe is driving the overall clinical nutrition market growth. Growing awareness programs and camps regarding various chronic diseases organized by domestic governments and increasing occurrences of enfeebling diseases coupled with the growing aged population base are some of the other factors driving the overall clinical nutrition market growth.
Asia Pacific to Grow at Highest Rate in Clinical nutrition Market
Geographically, the global clinical nutrition market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is anticipated to contribute the highest revenue share and grow at highest CAGR during the forecast period owing to the availability of wide range of various better and accurate disease diagnostic methods, early adoption of various advanced diagnostic methods and ongoing technological advancements in the healthcare industry. Awareness programs conducted by various organizations are also playing the major role in the growth of regional clinical nutrition market. Growing inclination towards more advanced disease diagnostics methods and rapid growth in the healthcare industry is supplementing the regional market growth. Asia Pacific is also expected to show substantial growth over the forecast period due to presence of large number of patient base, growth in the obese population. Infrastructural development and early and growing disposable income in the emerging countries are some of the key factors fueling the regional market growth.
The clinical nutrition market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Nestle Nutrition, Lonza Ltd, Hospira Inc., Mead Johnson amp; Company, Kendall, Gentiva Health Services Inc., Abbott Laboratories Inc., H. J. Heinz Company, Ajinomoto Co. Inc., Baxter International Inc., American Home Patient Inc., Hero Nutritionals Inc., B. Braun Melsungen AG, and Fresenius Kabi.
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