DUBLIN, September 23, 2021--(BUSINESS WIRE)--The "Critical Care Nutrition Market by Route of Administration, Application and Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global critical care nutrition market was valued at $10,618.96 million in 2020, and is projected to reach $19,237.81 million by 2030, registering a CAGR of 6.1% from 2021 to 2030.
Critical care nutrition is referred to as the nutrition support therapy for critically ill patients to attain positive patient outcomes. In addition, critical care is known to be the provision of safe and optimal nutrition that needs to be provided to patients admitted to the ICU using evidence-based practice. This therapy is prescribed to patients suffering from chronic illness such as malnutrition, gastrointestinal disorder, and cancer. In addition, the nutrition therapy, if taken in early stages, may assist in decreasing the disease severity and reduce complications that are caused due to insufficiency of nutrition. Furthermore, decrease in length of stay in the ICU and decline in the rate of mortality in patient population who have undergone early nutritional therapy would help the market generate higher revenue in the forecast period.
Rise in prevalence of chronic disorders such as cancer and neurological disorders is the major factor that contributes toward the growth of the critical care nutrition market. According to the statistics given by the American Society of Clinical Oncology Journal in 2020, the incidence rate of cancer is higher among females, which is about 712,758 than in males, which is about 679,421 for the year 2020. The projected national cancer incidence burden in 2020 were 98.7 per 100,000 population that is approximately 1,392,179 patients as a conservative estimate. Furthermore, surge in the healthcare spending is anticipated to notably contribute toward the market growth.
According to the statistics given by the United Nations in 2020, about 727 million people are aged 65 years and above across the globe. This number is estimated to reach 1.5 billion by 2050. Thus, huge increase in the geriatric population, who are most susceptible to suffer from chronic diseases and require critical care nutrition for combatting with the condition is anticipated to fuel the market growth. However, lack of awareness regarding critical care nutrition for patients admitted in the ICU in underdeveloped countries will hinder the market growth.
In addition, the development of newer technologically advanced products and increased market potential in untapped emerging economies are expected to provide lucrative opportunities for the growth of the market.
The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers a quantitative analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
A comprehensive analysis of factors that drive and restrain the growth of the market is provided.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the market.
Surge in healthcare spending for patient population
Increase in prevalence of ageing associated diseases
Rise in incidences of the targeted disease
Advantages offered by critical care nutrition
Inadequate efficiency of nutritional care in critically ill patients
High market potential in emerging economies
Fresenius Kabi AG
Mead Johnson & Company LLC
Baxter International Inc.
B.Braun Melsungen AG
Meiji Holdings Co., Ltd.
Reckitt Benckiser Group PLC.
For more information about this report visit https://www.researchandmarkets.com/r/pzheyr
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