Yahoo Finance Canada Clinical Nutrition Market to Surpass US$ 828.5 Million by 2028, Says Coherent Market Insights (CMI)
SEATTLE, June 15, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Canada clinical nutrition market is valued at US$ 593.0 million in 2021, and is projected to exhibit a CAGR of 4.9% over the forecast period (2021–2028).
Key Trends and Analysis of the Canada Clinical Nutrition Market:
Increasing incidence of gastrointestinal disorders is expected to propel growth of the Canada clinical nutrition market over the forecast period. For instance, according to the Canadian Digestive Health Foundation, over 20 million Canadians suffer from digestive disorders every year.
Moreover, major players in the market are focused on R&D of new products which is anticipated to drive the market growth over the forecast. For instance, in November 2020, Abbott launched its most innovative infant formula, Similac Pro-Advance with 2'-Fucosyllactose Oligosaccharide† (2'-FL†), which is the first product in Canada with this breakthrough ingredient for infant formula.
Furthermore, key players operating in the market are focused on adopting strategies such as partnerships and collaborations to expand their product offerings in the market. For instance, in February 2020, Nestlé Health Science and Valbiotis (FR0013254851 – ALVAL/PEA/SME eligible), a research and development company, entered into a strategic partnership for the development and commercialization of TOTUM-63, an innovative and patented nutrition health product to reduce the risk of developing type 2 diabetes in pre-diabetic subjects.
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Key Market Takeaways:
The Canada clinical nutrition market is expected to exhibit a CAGR of 4.9% over the forecast period, owing to the rising government initiatives for ensuring undisrupted delivery of vital nutrition services. For instance, in 2020, the Government of Canada announced US$ 29.5 million for delivering vitamin A supplements to millions of children across the country.
Among nutrition type, enteral nutrition segment accounted for the largest market share in 2020, owing to increasing approval of novel products. For instance, in July 2020, Danone Canada, a subsidiary of Danone S.A. launched new Light & Free, new yogurt range to deliver high protein with no artificial sweeteners and less sugar content.
Among application, diabetes segment accounted for largest market share in 2020 owing to increasing prevalence of diabetes in Canada. For instance, according to the Diabetes Canada, in 2021 the estimated prevalence of diabetes (type 1 and type 2) would be 3,888,000 (10%) which is expected to increase to around 12% by 2031.
Among end user, hospitals segment accounted for largest market share in 2020, owing to the high prevalence of chronic diseases such as osteoarthritis, diabetes, cancer, osteoporosis, and others in Canadian population which is expected to increase the number of hospital visits and thereby, driving the segment growth. For instance, according to the Government of Canada 2016-2017, the chronic conditions that has the high prevalence rate includes osteoarthritis (38.0%), diabetes (26.8%), osteoporosis (25.1%), and cancer (21.5%).
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Competitive Landscape:
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.
Market Segmentation:
Canada Clinical Nutrition Market, By Nutrition Type:
Enteral Nutrition
Standard Nutrition
Disease Specific Nutrition
Parenteral Nutrition
Amino Acid
Carbohydrates
Vitamins and Minerals
Others
Canada Clinical Nutrition Market, By Form:
Powder
Liquid
Others
Canada Clinical Nutrition Market, By Age Group:
Infant Nutrition
Adult Nutrition
Geriatric Nutrition
Canada Clinical Nutrition Market, By Application:
Diabetes
Cancer
Critical Care
Neurological Disorder
Metabolic Syndrome
Gastrointestinal Diseases
Other Applications
Canada Clinical Nutrition Market, By End User:
Hospitals
Ambulatory Surgical Centers
Long Term Care Facilities
Related Market Intelligence Reports:
U.S. Clinical Nutrition Market, by Nutrition Type (Enteral Nutrition (Standard Nutrition and Disease Specific Nutrition) and Parenteral Nutrition (Amino Acids, Carbohydrates, Vitamins and Minerals, and Others)), by Form (Powder, Liquid, and Others), by Age Group (Infant Nutrition, Adult Nutrition, and Geriatric Nutrition), by Application (Diabetes, Cancer, Critical Care, Neurological Disorder, Metabolic Syndrome, Gastrointestinal Diseases, and Other Applications), and by End User (Hospitals, Ambulatory Surgical Centers, and Long Term Care Facilities) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Read more: https://www.coherentmarketinsights.com/market-insight/us-clinical-nutrition-market-4412
Dairy Nutritional and Nutraceutical Ingredients Market, By Ingredients (Dairy Protein (Whey Protein (WPI, WPC, WPH), Casein Protein (CPI, CPC, CPH)), Prebiotics (Lactulose, Lacto Bionic, Galacto Oligosaccharides), Vitamin & Minerals, Colostrum, Nucleotides), By Application (Functional Food, Infant Formula & Clinical Nutrition, Dairy Products, Bakery & Confectionaries, Personal Care), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
CONTACT: Contact Us: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
