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 does 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.
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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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