Elderly Nutrition Market Size Is Anticipated To Reach USD 31.0 Billion at a CAGR of 6.6% By 2026 | Key Players – Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sanofi, Nestlé’s, GlaxoSmithKline
Impact Analysis of Covid-19
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Global Elderly Nutrition Market, by Nutrition Type (Minerals, Multi-Vitamins, Iron, Proteins, Fibers, Lipids, Antioxidants, and Others), By Application (Diabetes, Renal Failures, Obesity, Sarcopenia, Cancer, and Others), By Route of Administration (Oral, Parenteral, and Enteral), By Distribution Channel (Hospitals & Clinics, Retail Pharmacies, Convenience Store, Online, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 17,453.5 million in 2017, and is projected to exhibit a CAGR of 6.6% during the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Research and development activities by market players to augment the market growth
Key players in the market are focused on research and development of novel products to address the critical unmet needs of nutrition in elders. Moreover, a significant increase in investments for developing novel nutritional products for geriatric population is also expected to propel growth of the market. For instance, in May 2017, Nestle launched YIYAN powder for people over 50 years in China Nutrition Science Conference in China.
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Moreover, the increasing geriatric population is expected to result in higher incidence of chronic diseases, which in turn is expected to boost the market growth. For instance, chronic obstructive pulmonary disease (COPD) is a primary cause of disability and death all over the world. Most people with COPD have malnutrition and require nutritional support to live. According to WHO in 2016, 251 million people have moderate to severe chronic obstructive pulmonary disease (COPD).
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in December 2018, Pfizer Inc. and GlaxoSmithKline plc (GSK) announced plans for its joint venture agreement to create a global consumer healthcare company. This joint venture is expected to expand GSK’s consumer health portfolio towards vitamin and dietary supplements.
Browse 26 Market Data Tables and 28 Figures spread through 166 Pages and in-depth TOC on ‘Elderly Nutrition Market’- Global Forecast to 2026, by Nutrition Type (Minerals, Multi-Vitamins, Iron, Proteins, Fibers, Lipids, Antioxidants, and Others), by Application (Diabetes, Renal Failures, Obesity, Sarcopenia, Cancer, and Others), by Route of Administration (Oral, Parenteral, and Enteral,), by Distribution Channel (Hospitals & Clinics, Retail Pharmacies, Convenience Store, Online, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the elderly nutrition market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/elderly-nutrition-market-to-surpass-us-310-billion-by-2026-1291
Key Takeaways of the Global Elderly Nutrition Market:
- The global elderly nutrition market is expected to exhibit a CAGR of 6.6% during the forecast period owing to increasing geriatric population susceptible to chronic diseases, neurological disorders, sarcopenia, and osteoporosis in elder women. The International Osteoporosis Foundation (IOF) facts and statistics 2017, an estimated around 1 in 3 women aged 50 and 1 in 5 men aged 50 year and above are expected to experience osteoporotic fractures worldwide.
- Among nutrition type, the protein segment held dominant position in the elderly nutrition market in 2018, as large number of products majorly contains proteins.
- Among application type, the diabetes segment held a dominant position in the elderly nutrition market in 2018, as the majority of the products for elderly patients are used in diabetes condition.
- Among route of administration, the oral segment held a dominant position in the elderly nutrition market in 2018, as this is very convenient, cost effective than others, and doesn’t require any medical supervision.
- Among distribution channel, the convenience stores segment held a dominant position in the elderly nutrition market in 2018, as it is time saving, cost effective method for elder patients to avail products.
- Key players operating in the global elderly nutrition market are Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Allergan, Danone, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC., Sanofi, Nestlé’s, GlaxoSmithKline, Fresenius Kabi AG, and Ranbaxy.
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