by The Canada clinical nutrition market is in trends by personalized nutrition. Clinical nutrition products such as enteral nutrition and parenteral nutrition are extensively used across various end-users like hospitals, long-term care facilities, and homecare settings. These clinical nutrition products offer advantages like meeting specific nutritional requirements, managing diseases or medical conditions, and improving the overall health and quality of life of patients. The growing prevalence of chronic diseases and increasing healthcare spending are fueling the demand for clinical nutrition in the country.
The Canada Clinical Nutrition Market is estimated to be valued at US$ 751.73 Bn in 2024 and is expected to exhibit a CAGR of 54.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Canada clinical nutrition market are Audi AG, Ballard Power Systems Inc., BMW Group, Daimler AG, General Motors Company, Honda Motor Co., Ltd., and Hyundai Motor Group. Key players are focusing on innovations in enteral and parenteral formulas to cater to the personalized nutrition needs of patients. They are also investing in nutrition assessment and counselling to drive the adoption of clinical nutrition products.
The growing prevalence of chronic diseases like cancer, gastrointestinal disorders, pulmonary diseases is a key factor driving the demand for clinical nutrition in Canada. Clinical nutrition helps in managing the symptoms and treatment of these medical conditions. It prevents malnutrition and helps patients recover faster.
Canada is witnessing significant growth opportunities in the clinical nutrition market with increasing focus on value-based care and home care settings. Major players are expanding their production facilities and distribution networks across Canada to ensure the availability of customized nutrition products. Acquisitions and partnerships with local players are helping global companies to solidify their presence.
Market Key Trends
Personalized nutrition is a key trend gaining traction in the Canada Clinical Nutrition Market Growth Players are leveraging technologies like artificial intelligence, machine learning, and predictive analytics to develop tailored nutrition products. Data-driven tools help in accurate nutrition assessment and formulation of products based on individual requirements. This improves health outcomes. Furthermore, the adoption of organic and clean label products is increasing in clinical nutrition. Players are offering products made from non-GMO and natural ingredients to cater to consumer preferences.
Porter’s Analysis
Threat of new entrants: High capital requirements for setting up manufacturing plants act as a barrier.
Bargaining power of buyers: Large retail buyers can negotiate lower prices due to their high purchasing power.
Bargaining power of suppliers: Suppliers of raw materials have less bargaining power due to the availability of substitution.
Threat of new substitutes: threat from alternative nutrition products is moderate as clinical nutrition is prescribed by healthcare professionals.
Competitive rivalry: The market is dominated by global players and regional players compete on the basis of product quality and innovation.
Geographical Regions
North America accounts for the largest share in the Canada clinical nutrition market in terms of value. This is attributed to high healthcare spending, aging population, and increasing prevalence of chronic diseases like cancer in the US and Canada. Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Rapid economic development, rising medical tourism, growing health awareness, and increasing disposable income in emerging countries like China and India are driving the clinical nutrition market in the region.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
