Published Date : 18 Oct 2022
The global clinical nutrition market size accounted for US$ 38.43 billion in 2022 and is expected to hit around US$ 61.8 billion by 2030, growing at a healthy CAGR of 6.10% from 2022 to 2030.
The clinical nutrition market is rising due to an increase in the incidence of chronic diseases, the number of patients who need sophisticated clinical nutritional products, and the growing concern over malnutrition in pediatric patients. As the aged population expands and the number of patients suffering from malnutrition increases, the clinical nutrition industry is predicted to expand. Changing consumer preferences in food consumption, as well as increased demand for nutritious goods, are expected to enhance the clinical nutrition market's growth over the forecast period. The global clinical nutrition market is being driven by increased consumer awareness of the importance of nutrition for good health.
North America is the largest segment for clinical nutrition market in terms of region. The U.S. is dominating the clinical nutrition market in the North America region. The growth of clinical nutrition market in North America is attributed to the growing incidences of metabolic diseases. The obesity rate in the U.S. was expected to be around 42.4% in 2017-2018, as per the Centers for Disease Control and Prevention. Cardiovascular illnesses and cancer are among the greatest healthcare costs in the U.S., according to the Centers for Disease Control and Prevention.
Asia-Pacific region is the fastest growing region in the clinical nutrition market. Japan and China hold the highest market share in the Asia-Pacific clinical nutrition market. The growing geriatric population is driving the growth of clinical nutrition market in Asia-Pacific region. In addition, growing geriatric population is also supporting the Asia-Pacific clinical nutrition market growth. Such efforts are being taken by Japan Society of Nutrition and Food Science. Thus, the clinical nutrition market in region is growing at a rapid pace.
Report Scope Of Clinical Nutrition Market
|Market Size in 2022||USD 38.43 Billion|
|Market Size by 2030||USD 61.8 Billion|
|Growth Rate from 2022 to 2030||CAGR of 6.1%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2022 to 2030|
Drivers: Growing geriatric population
According to World Health Organization, the percentage of the global population aged 60 and up will be nearly double from 12% to 22% between 2015 and 2050. The geriatric population at a considerably higher rate than in the past. As a result, growing geriatric population is propelling the growth of global clinical nutrition market.
Restraints: Stringent government regulations
The increasing government restrictions in emerging regions such as North America, Europe, and Asia-Pacific as well as their increasing rigidness on quality and other characteristics are proving to be a major problem for market players. Thus, stringent government regulations are restricting the expansion of global clinical nutrition market.
Opportunities: Growing prevalence of metabolic and chronic disorders
As per the report released by the World Health Organization in 2021, dementia affects over 55 million people globally, with 10 million new cases diagnosed each year. Furthermore, according to the study released in the NCBI, oropharyngeal dysphagia would affect 85.9% of dementia patients in 2020. As a result, growing prevalence of metabolic and chronic disorders is contributing towards the growth of global clinical nutrition market.
Challenges: Lack of awareness regarding clinical nutrition
In the worldwide clinical nutrition industry, a lack of awareness in underdeveloped nations as compared to emerging and established nations is a major challenge for the market growth. This is due to the lack of resources. Thus, lack of awareness regarding clinical nutrition is the biggest challenge for the growth and development of the global clinical nutrition market.
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