One of the pivotal factors that has been influencing health and nutrition market in recent times is the rapid increase in global geriatric population. Given that most of the elderly suffer from health issues such as loss of appetite and metabolic disorders, the preference for nutritional products has increased a great deal lately. The increasing awareness regarding the health benefits of consuming nutritional products is thus poised to boost health and nutrition industry share. In this regard, regional governments have been undertaking favorable initiatives with regards to the upgradation of healthcare infrastructure to impel health and nutrition industry. Even in the developing countries, government bodies have been organizing awareness programs to encourage the consumption of nutritional foods for minimizing various deficiencies among children.
The increasing deployment of digital technologies across the healthcare sector has emerged as a viable factor driving health and nutrition market trends. In fact, most of the companies have already implemented next-generation technologies to manufacture nutrition products. For instance, recently, Danone Nutrition has revealed its precision nutrition lab in Singapore that deploys next-generation digital technologies such as big data and machine learning to produce infant nutrition products. The company aims to harness machine learning and big data to accomplish consumer needs in the most optimal way possible. In addition, the Singapore government has also encouraged Danone Nutrition with its Smart Nation initiative, further stimulating the regional clinical nutrition market.
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For the record, infant product segment has covered major share of clinical nutrition market in 2015. The escalating number of premature babies across the globe along with increasing prevalence of metabolic disorders is likely to fuel health and nutrition industry outlook significantly.
In order to attain substantial valuation, most of the giants in health and nutritional market are mainly focusing on patient satisfaction and safety. In this regard, one of the leading providers of medical equipment comprising sleep apnea treatment, oxygen therapy, and enteral home nutrition, Apria Healthcare is planning to enhance patient experience through an open network E-prescribing platform. The platform has been designed to reduce documentation time, which is expected to improve patient comfort. The aforementioned instance validates that the integration of software-based IT solutions such as electronic medical record systems is poised to enhance health and nutrition industry size. In fact, technological advancements in parenteral and enteral nutrition devices is likely to boost the overall industry over the years ahead.
Regionally, U.S. clinical nutrition industry is slated to register an annual growth rate of above 6% over 2017-2024. The prominent factors driving this business space is the supportive reimbursement scenario, growing aging population, and next-generation healthcare infrastructure. In addition, shifting trends toward sedentary lifestyle has led to a massive rise in the occurrence of chronic diseases, which would further augment U.S. health and nutrition industry share over the years ahead.
With the rapidly increasing demand for nutritional foods among the aging population, clinical nutrition market is likely to chart out a profitable growth map ahead. Aided by rising advancements in nutritional feeding devices and government investments in healthcare infrastructure development, health and nutrition market size will witness a tremendous increase in terms of valuation and sales.