2021 Analysis and Review: Oral Clinical Nutrition Supplement Market by Product Type – Standard Formula and Specialized Formula for 2021 - 2031
Increasing awareness especially among younger demographics associated with lifestyle-based aliments such as asthma, and allergies are important factors driving demand for oral clinical nutrition supplements on a large scale. Robust distribution channels with multiple sales outlets will contribute to long term prospects in the industry.
The oral clinical nutrition supplement market is expected to display a healthy 6% CAGR throughout the assessment period from 2021 to 2031. Rising healthcare awareness research and development initiatives by manufacturers for clinical nutrition offerings are likely to bolster product development aimed towards probiotics and deficiency treatments in the market throughout the coming decade. Widespread prevalence of weakened immunity and autoimmune diseases will aid long-term growth.
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"Increasing spending on healthcare, high prevalence of metabolic ailments, and the rise of disposable incomes supports the adoption of oral clinical nutrition supplements. In addition, clinical nutrition is also finding niche use in maintaining patient health through surgical procedures, which will contribute to growth of the market in coming years," says the FMI study.
Oral Clinical Nutrition Supplement Market - Primary Takeaways
Fiber and carbohydrate supplements are generating strong interest owing to rising applications in weight and energy management products.
Immunity-support products will reflect relatively faster growth, with significant impetus provided by the covid-19 pandemic.
OTC channels of distribution will remain the leading source of revenue owing to strong consumer awareness.
United States will remain a major contributor to revenue owing to consumer awareness about supplement consumption.
China, South Korea, and India will emerge as lucrative market with a rise in health-based expenditure.
Oral Clinical Nutrition Supplement Market - Growth Factors
Frequent product launches with new flavor profiles is driving up growth with expansion of consumer profiles.
Widespread prevalence of malnutrition and increased government initiatives towards the issue generates opportunities.
Improvements to patient outcomes for hospital setting applications are creating a favorable environment for adoption.
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Oral Clinical Nutrition Supplement Market - Major Constraints
Side effects such as bone toxicity arising from the over consumption of clinical nutritional supplements holds back consumption.
Formulation issues resulting in product recall hurt profitability and hurt market growth.
Expected Impact on Market by Coronavirus Outbreak
The covid-19 pandemic generated lucrative opportunities for oral clinical nutrition supplement manufacturers. Increased levels of healthcare awareness and an emphasis by medical professionals on nutrition with the aim of infection prevention has bolstered demand during the crisis period.
Investments in research towards nutrition management and increased acceptance of supplements as a viable source of nutrition by consumers globally will support growth in the long term in the post-pandemic era.
Prominent manufacturers taking part in the oral clinical nutrition supplement market include but are not limited to Church & Dwight Co. Inc., NUTRICIÓN MÉDICA SL, Bayer AG, Meiji Holdings Co., Ltd., Pharmavite LLC, Medtrition Inc., Nature's Bounty Inc., Baxter International Inc., Medifood GmbH, B. Braun Melsungen AG., Pfizer Inc., Fresenius Kabi AG, AYMES International Ltd., Mead Johnson & Company, LLC, Otsuka Holdings Co., Ltd., Sichuan Kelun Pharmaceutical Co., Ltd., Abbott Laboratories, Perrigo Company plc, Danone Nutricia, Kate Farms Inc., Victus Inc., Nestle S.A., Cambrooke Therapeutics Inc., and GlaxoSmithKline plc.
Major manufacturers in the oral clinical nutrition supplement industry are focused on product innovation and launch strategies aimed towards geographical and product portfolio expansion, generating new revenue streams.
In March 2021, Kate Farms announced three new products eligible for Medi-Cal insurance coverage including Kate Farms Standard 1.4 Vanilla and Plain, and Kate Farms Pediatric Peptide 1.0 Vanilla for children and adult consumers. BioLeptin unveiled new active ingredient infused supplements including Irvingia Gabonensis and Chromax for weight loss boosting applications. Dutch Medical Food announced its intention to enter the medical food category, aiming to provide disruption in terms of diversification with a portfolio for critical care and surgery, epilepsy, malnutrition, diabetes, cancer, and more for emerging economies in the Americas and Asia.
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More on the Report
FMI provides in-depth insights on the oral clinical nutrition supplement market. The market is segmented in terms of product type (standard formula and specialized formula), indication (General well-being, renal disorders, hepatic disorders, oncology nutrition, diabetes, dysphagia, IBD & GI tract disorders, neurological disorders, respiratory disorders, and others), form (liquid, semi-solid, and powder), end user (adult, geriatric, and pediatric), flavor (regular and flavored), and channel (prescription-based and over-the-counter), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Explore Wide-ranging Coverage of FMI's Food & Beverage Landscape
Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89005971