PORTLAND, Oregon, June 18, 2020
- Rise in prevalence of chronic disorders and increase in R&D investments by governments in the healthcare sector drive the growth of the global clinical nutrition market
PORTLAND, Oregon, June 18, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Clinical Nutrition Market by Route of Administration (Oral, Enteral, and Parenteral), Application (Cancer, Neurological Diseases, Gastrointestinal Disorders, Metabolic Disorders, and Others), and End User (Pediatric, Adults, and Geriatric): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global clinical nutrition industry generated $31.35 billion in 2018, and is estimated to reach $55.25 billion by 2026, witnessing a CAGR of 5.3% from 2019 to 2026.
Drivers, restraints, and opportunities
Rise in prevalence of chronic disorders, surge in number of patients utilizing advanced clinical nutritional products, and increase in R&D investments by governments in the healthcare sector drive the growth of the global clinical nutrition market. However, lack of awareness and strict regulations restrain the market growth. On the other hand, advancements in clinical nutrition and untapped potential in emerging countries offer new opportunities in the coming years.
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The oral segment to maintain its lead position by 2026
Based on route of administration, the oral segment contributed to nearly half of the total share of the global clinical nutrition market in 2018, and is projected to maintain its lead position in terms of revenue during the forecast period. In addition, this segment is expected to witness the largest CAGR of 5.8% from 2019 to 2026. This is due to its widespread usage in patients as it offers ease in intake and convenience for treatment of several diseases. The report also offers a detailed analysis of segments including enteral and parenteral.
The cancer segment to offer lucrative opportunities
Based on application, the cancer segment held the largest market share with nearly one-third of the global clinical nutrition market share in 2018, and would continue its lead during the forecast period. Moreover, this segment is projected to portray the highest CAGR of 6.0% from 2019 to 2026. This is attributed to the need to fulfill nutritional deficiency occurring in patients from various treatments such as hormone therapy, chemotherapy, radiation therapy, immunotherapy, and stem cell transplant. The research also discusses segments including neurological diseases, gastrointestinal disorders, metabolic disorders, and others.
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North America to maintain its highest revenue contribution throughout the forecast period
Based on region, North America contributed to the largest share in terms of revenue in 2018, accounting for more than one-third of the total share of the global clinical nutrition market, and is estimated to maintain its highest contribution throughout the forecast period. This is due to rise in number of chronic disease including coronary artery disease, diabetes, ischemic stroke, and few cancer indications in the region. However, Asia-Pacific is expected to witness the fastest CAGR of 6.0% from 2019 to 2026, owing to rise in metabolic disorders and rise in patient awareness regarding adoption of clinical nutrition products.
Leading market players
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