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Global
medical nutrition market is expected to grow at a rapid pace over the forecast
period owing to increasing birth rate, rising number of malnutrition receiving
treatments and increasing number of premature births Rising geriatric
population coupled with life expectancy rate is expected to boost the demand
for medical nutrition in the coming years. Furthermore, increasing healthcare
awareness of medical nutrition among people and rising healthcare facilities
have a positive impact on market. Increasing prevalence of diseases requiring
additional nutrients such as diabetes, cardiovascular and dementia, increasing
number of health conscious people among population and, changing lifestyle such
as alcohol, smoking, more consumption of fast food are the drivers contributing
to market growth.
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Rising
geriatric population paired with loss of appetite is anticipated to create
demand for medical nutrition market over the coming six years. At older age, it
is difficult for human body to absorb all the required nutrients from food. Due
to this, infants do not receive the sufficient amount of nutrients. Hence, the
dependency on pediatrician increases. Rising homecare usage of nutritional
products is projected to generate demand for the medical nutrition. In 2014,
the premature birth rate reported in the U.S was about 9.6%. According to the
WHO, every year around 15 million babies are estimated to have premature birth.
On the basis of product type, market is segmented into infant, parenteral and
enteral nutrition. Parenteral nutrition is the delivery of nutrition and
calories into a vein. The required nutrients such as carbohydrates, fats,
proteins, vitamins and trace elements are delivered into the veins as simple
sugars. These are given to those patients who are unable to maintain their
nutritional status by oral eating or by tube feeding.
Enteral
nutrition is a tube feeding method which uses gastrointestinal tract to deliver
calorie requirement. Enteral segment is considered to be the largest
revenue-generating segment owing to increasing healthcare awareness level of
the consumers and rising demand for nutritional products. Sports nutrition and
therapeutic nutrition are the application segments of the medical nutrition
market. In sports nutrition, many supplements for body building is used and
healthy diet by athletes is required to increase their performance level and
progression. Medical nutrition therapy (MNT) is important in managing or preventing
diabetes. According to the American Diabetes Association, clinical trials of
MNT have reported the decrease of Type 1 diabetes by 1% and Type 2 by 1% to 2%
depending on the duration of diabetes.
The
global medical nutrition market is geographically segmented into North America,
Europe, Asia-Pacific, Latin America and MEA. North America is held the largest
share owing to rising healthcare facilities and infrastructure, increasing
prevalence of diseases, high number of health conscious people, developing and
adopting patient friendly enteral feeding devices. In addition, presence of
large number of manufacturers which helps in improving accessibility for
consumers to the devices is another factor anticipating to the demand of
market. Asia-Pacific is estimated to witness fastest growth over the decade.
Increasing geriatric population which are more susceptible to chronic diseases,
rising per capita income level, rising awareness level for medical nutrition
among patients, changing lifestyle of people are the drivers leading to market
growth. High unmet needs of people, increasing number of preterm born babies
and rising commercialization in emerging countries such as India and China are
expected to fuel market growth in coming years.
The
key participants are Nutricia & NeoMed, Abbott Nutrition, Baxter
International Inc., B. Braun Melsungen AG, Nestle, Mead Johnson Nutrition Co.,
Fresenius SE & Co. KGaA, Halyard Health Inc., Boston Scientific
Corporation, Covidien PLC, C.R. Bard Inc., Vygon SA, ConMed Co., Cook Medical
and, Moog Inc. Other players include Amsino International Co., Applied Medical
Technology Inc., Danone and CORPAK MedSystems Inc. Abbott, Nestle, B. Braun and
Baxter are anticipated to expand their product portfolios to increase their
market share. The Nestle Nutritional Profiling System (NNPS) by Nestle is a
novel product estimated to boost the market growth. NNPS monitors nutrients
such as proteins, calcium and, iron as per consumer requirement.
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