April 21, 2024

Canada Clinical Nutrition Market Is Estimated To Witness High Growth Owing To Rising Incidence of Chronic Diseases and Growing Geriatric Population

Market Overview:

Clinical nutrition refers to the customized nutrition support given to patients who are unable to consume food orally. This may include patients with chronic diseases, elderly individuals, and those undergoing medical treatments. Clinical nutrition products primarily include enteral nutrition formulas, parenteral nutrition formulas, and dietary supplements. These products are designed to provide essential nutrients, proteins, vitamins, and minerals to patients, promoting their overall health and well-being. The demand for clinical nutrition is increasing in Canada due to the rising prevalence of chronic diseases, such as cancer and diabetes, along with the growing geriatric population who often require specialized nutritional support.

Market Dynamics:

The Canada Clinical Nutrition Market is driven by the increasing incidence of chronic diseases in the country. Chronic diseases such as diabetes, cancer, and gastrointestinal disorders require specialized nutrition to support the patient’s health and aid in their treatment and recovery. Additionally, the growing geriatric population in Canada is also contributing to the market growth, as elderly individuals often have unique nutritional needs and may require clinical nutrition support. The rising awareness about the importance of proper nutrition and its impact on overall health is also driving the demand for clinical nutrition products in Canada. Furthermore, advancements in medical technology and innovations in clinical nutrition formulations are expected to further propel market growth in the coming years. Overall, the Canada Clinical Nutrition Market is anticipated to witness significant growth due to the drivers mentioned above.

Segment Analysis:

The Canada Clinical Nutrition Market can be segmented based on product type, consumer type, and distribution channel. In terms of product type, the market is dominated by the oral nutritional supplements segment. This segment is expected to witness high growth due to the increasing aging population in Canada and the rising prevalence of chronic diseases that require specialized nutrition. The ease of consumption and availability of a wide range of flavors in oral nutritional supplements make them popular among consumers.

PEST Analysis:

Political: The political factors influencing the Canada Clinical Nutrition Market include government regulations and policies related to healthcare and nutrition. These factors can affect the availability and affordability of clinical nutrition products.

Economic: The economic factors impacting the market include the GDP growth rate, disposable income of consumers, and healthcare expenditure. A stable economy and increasing disposable income are expected to drive the demand for clinical nutrition products in Canada.

Social: The social factors include changing lifestyles, dietary patterns, and increasing awareness about the importance of nutrition for health and well-being. These factors are driving the demand for clinical nutrition products in Canada.

Technological: The technological factors include advancements in manufacturing processes, product formulations, and packaging. Innovations in technology are enabling the development of more convenient and effective clinical nutrition products.

Key Takeaways:

The Canada Clinical Nutrition Market Demand  is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period. This growth is driven by the increasing aging population and rising prevalence of chronic diseases in Canada, which require specialized nutrition.

In terms of regional analysis, Ontario is the fastest-growing and dominating region in the Canada Clinical Nutrition Market. This can be attributed to the high population density and better healthcare infrastructure in this region.

Key players operating in the Canada Clinical Nutrition Market include Abbott Laboratories, Baxter International Inc., Fresenius Kabi AG, NESTLÉ S.A., DANONE S.A., B.Braun Melsungen AG, Mead Johnson & Company, LLC, Perrigo Company PLC, Koru Nutrition Inc., and Koninklijke DSM N.V. These players have a strong presence in the market and are actively engaged in product development and strategic partnerships to maintain their market position.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it