Nutritional deficiency is a result of insufficient amounts of a
nutrient obtained or absorbed from food. Elder people are more prone
to nutritional deficiencies even if the diet consumed is healthy and
sufficient in calories. This may be attributed to the decline in the
ability of digestive tract to effectively absorb nutrients with age.
Moreover, decline in the ability to smell and taste also reduces
appetite, which can lead to low amount of required nutrients in
elderly people. Less amount of fiber consumption is also a common
cause of nutrition deficiency. These factors can lead to general
un-wellness or chronic illness.
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Elderly Nutrition Market – Dynamics
A major factor contributing to significant growth of the elderly
nutrition market is increasing geriatric population and lack of
nutritional intake though meal. According to World Population
Prospects in 2017, the global geriatric population was 962 million,
which is expected to reach around 2.1 billion by 2050. People above
60 years of age are highly susceptible to different types of
age-related diseases such as Parkinson’s disease, organ failures,
and nervous system disorders and require parenteral nutrition feeding
to keep their nutritional levels intact.
Increasing
use of home parenteral nutrition therapy by geriatric population with
chronic illnesses such as cancer, diabetes, and AIDS is also
stimulating growth of the market. Moreover, increasing prevalence of
chronic diseases is also expected to boost growth of the global
elderly nutrition market.
For instance, chronic obstructive pulmonary disease (COPD) is a
primary cause of disability and death all over the world. Most people
with COPD have malnutrition and there for require nutritional support
to live. According to WHO in 2016, 251 million people suffered from
moderate to severe chronic obstructive pulmonary disease (COPD).
Elderly Nutrition Market – Regional Insights
Based on the region, the global elderly nutrition market is segmented
into North America, Europe, Latin America, Asia Pacific, Middle East,
and Africa. Europe is expected to hold dominant position in the
global elderly nutrition market during the forecast period followed
by North America. This is owing to increasing geriatric population
and growing health awareness in the regions.
According to World Population Prospects, in 2017, more than one in
every five people was aged 60 or above in Europe and North America.
Moreover, by 2050, geriatric population is expected to account for
35% of the total population in Europe, for 28% in North America, 25%
in Latin America and the Caribbean, 24% in Asia, 23% in Oceania, and
9% in Africa.
Elderly Nutrition Market – Competitive Landscape
Key players operating in the global elderly nutrition market are
focused on developing novel nutritional products that are safe and
fulfill the nutritional requirements of patients with different
clinical conditions. Moreover, significant increase in investments
for developing novel nutritional products for geriatric population is
also expected to propel growth of the market. For instance in May
2017, Nestle launched YIYAN powder for age over 50 years in China
Nutrition Science Conference in China.
Major players operating in the elderly nutrition market include,
Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc.,
Allergan, Danone, Nutricia, Abbott Laboratories, Pfizer, Inc., Mead
Johnson & Company, LLC., Sichuan Kelun Pharmaceutical Company
Limited, Sanofi and Grifols S.A., Nestlé’s, Heinz,
GlaxoSmithKline, Wockhardt Ltd, Fresenius Kabi AG, and Ranbaxy.
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