Oral Clinical Nutrition Supplements Market Projected to Grow at a Steady Pace Due to Choice Among the Aged Population
According to a newly published report by Transparency Market Research, titled ‘Oral Clinical Nutrition Supplements Market: Global Industry Analysis and Opportunity Assessment 2018-2026’, the overall revenue generated from the global oral clinical nutrition supplements market is anticipated to be valued at somewhere around US$ 7,722.4 Mn in 2018, which is expected to rise at a CAGR of 6.1% throughout the forecast period (2018-2026).
In the global oral clinical nutrition supplements market, Asia Pacific holds a major share of the production and consumption of oral clinical nutrition supplements, owing to factors such as urbanization, malnutrition, increasing health conscious population, and increasing health issues among the population. On the basis of our research, Asia Pacific accounts for 31.2& value share in the global oral clinical nutrition supplements market.
Increasing oral clinical nutrition supplement product penetration in these regions is also contributing to flourishing the oral clinical nutrition supplements market. Frequent product launches with enhanced nutritional content, different flavors, more convenient product deliveries, and high quality certified products have made the oral clinical nutrition supplements market more competitive among players. Many other food manufacturers are showing keen interest to bring oral clinical nutrition supplements into their product portfolios, which is expected to increase the demand for oral clinical nutrition supplements over the forecast period.
Growing Demand for Oral Clinical Nutrition Supplements from the Geriatric Population
Immune deficiency lowers the ability of the body in combating numerous ailments, owing to which, elderly people are more prone to diseases, loss of appetite, weight gain, etc. Such conditions can be tackled by prescribing oral nutritional supplements, which are easy to consume, digest, and help in enhancing the overall immunity of the body. Therefore, oral clinical nutrition supplements are becoming one of the most prevalent supplement choices among the aged population, which is expected to surge the growth of the oral clinical nutrition supplements market over the forecast period.
According to the United Nations Department of Economic and Social Affairs Population Division, in 2013, approximately 841 million individuals were 60 years and above as compared to 205 million people in the year 1950. Global population aged 60 and more is projected cross 2 billion by the year 2050.
In 2012, consumers aged 65 years and above accounted for a 36% share of the total consumption of dietary supplements in the U.S.
Oral Clinical Nutrition Supplement Companies are Investing a Lot in Research & Development
Oral clinical nutrition supplement manufacturers are investing in the research and development sector, since the FDA has strictly limited illegal claims regarding diseases and health maintenance. Manufacturers that sell supplements with disease claims must get FDA approval by showing significant scientific agreement prior to selling their products in the market. Recent research focuses on improving the health of people through nutritional means, with the hope of improving overall health. For example, some scientists are investigating whether increasing the content of certain nutrients such as vitamin C and vitamin E with food constituents like probiotics or at levels above the Recommended Dietary Allowances (RDA) could strengthen the bones, especially in elders. Hence, companies operating in the oral nutritional supplements market are investing huge amounts on such researches in order to enhance their market presence and increase their consumer base. For the same, major companies are also opening research and development centers in order to enhance their product offerings of oral clinical nutrition supplements, and make a positive impact on people’s lives. For instance, in December 2018, Nestlé Health Science inaugurated its new global R&D center in Bridgewater, the U.S. The company invested US$ 70 Mn for this new R&D center for its agenda to enable healthier lives with the help of nutrition.
Global Oral Clinical Nutrition Supplements Market: Competition Dashboard
TMR has profiled some of the prominent companies involved in the global oral clinical nutrition supplements market, such as Danone Nutricia, NUTRICIÓN MÉDICA SL, Meiji Holdings Co., Ltd., Medifood International, Medtrition Inc., GlaxoSmithKline plc, Perrigo Nutritionals, Victus Inc., B Braun, Fresenius Kabi Ltd, Nestle Health Science, Nature’s Bounty, Pharmavite, Pfizer Inc., Bayer AG, Church & Dwight, and others.
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