The Elderly Nutrition Market is expected to grow on an irrevocable note in the upcoming period. The medical landscape is witnessing an influx of at-home diagnostic kits. This trend of on-demand products is likely to take the healthcare vertical by storm in the upcoming period. It has been observed that home kits aid in educating patients and bringing them to the medical visits better prepared, thereby curtailing the time taken for diagnosis. The status quo would help in keeping the healthcare vertical’s cash registers ringing going forward as well.
Healthy lifestyle is highly linked to proper nutrition intake in the body, majorly for elder people aged 65 years or above. As per a report published by the World Health Organization (WHO), elder population suffers from diseases, out of which majority are resulted because of lack of elderly nutrition intake.
Fat in food is associated with the cancer of colon, prostate and pancreas. Micronutrients linked improper nutrition result in degenerative diseases like diabetes and osteoporosis. The deficiency of micronutrients is common between the geriatric population owing it to factors like lack of variety in their diet and reduced food intake.
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Reduced ability for preparation of healthy foods and decreasing appetite result into lack of several major nutrients, like, minerals, vitamins and fibers, which could further result into general weakness or could also exacerbate chronic diseases.
According to the estimates provided by the Alzheimer Association 2017 Report, approximately 13.8 million people in the U.S. were diagnosed with Alzheimer’s dementia, out of which majority was observed in elderly population above 65 years of age. A few age-related problems that obstruct elderly nutrition intake are, medication side effects, decreased sensitivity, lack of finances, poor dental health, lack of transportation, memory loss, physical difficulty, and depression.
Constant increase in the geriatric population is one of the major factors that is expected to contribute to the growth of elderly nutrition market during the forecast period. There is a consistent rise in the elderly population prone to various neurological and chronic diseases and lack elderly nutritional intake. Increasing incidences of sarcopenia, organ dysfunction, age-related low immunity and osteoporosis, specifically for older women, are expected to fuel the market growth for elderly nutrition.
Rise in market manufacturers investing in R&D for the development of novel materials for elderly nutrition intake is also expected to contribute to the elderly nutrition market. However, lack of finances, risks associated with parenteral elderly nutrition therapy, such as, liver dysfunction, and re-feeding syndrome is expected to restrain market growth for elderly nutrition during the forecast period.
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Market Segmentation
| On the basis of Nutrition Type |
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| On the basis of Route of Administration |
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| On the basis of Application |
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| On the basis of Distribution Channel |
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Europe’s Elderly Nutrition market is expected to grow at a significant rate, owing it to the high prevalence rates of chronic illnesses, like, cardiovascular diseases, cancer, and other renal disorders. As per the European Heart Network factsheet, 2017, approximately 11.3 million incidence cases of cardiovascular diseases were reported in the region.
Improvements in the healthcare expenditure in the region is also one of the major factors boosting the market for elderly nutrition in the region. Developed regions like North America, have high rates of geriatric population and there is a consistent rise in the disposable income, which is further projected to fuel the market growth for elderly nutrition in the region.
Some of the market participants in the Global Elderly Nutrition market identified across the value chain include: Otsuka Pharmaceuticals Co., Ltd., Allergan, Nutricia, Danone, Abbott, Mead Johnson & Company, LLC, Pfizer, Inc., Sanofi, Nestlé’s, GlaxoSmithKline, Sichuan Kelun Pharmaceutical Company Limited, and Fresenius Kabi USA.
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