The global hospital and nursing home probiotics market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Probiotics are live microorganisms that have health benefits when consumed or applied to the body and can be found in yoghurt and other fermented foods, dietary supplements, and beauty products. The major factor for the growth of the market during the forecast period is the growing demand for probiotics in hospitals.
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Additionally, the market is also growing due to the increasing healthcare expenditure coupled with increasing disposable incomes during the forecast period. According to the Centers for Medicare & Medicaid Services (CMS), in 2020, the US health care spending grew 9.7%, reaching $4.1 trillion and a total of $12,530 per person. Additionally, healthcare spending accounted for 19.7% of the nation’s Gross Domestic Product. Furthermore, according to World Health Organization (WHO), the global healthcare expenditure was nearly 9.8% of the world’s GDP in 2018. Hence, the rising healthcare expenditure is resulting an increasing demand for healthy supplements, which in turn, is driving the market growth.
Some major players in the market includeBio – K Plus International, American Lifeline, Rising Pharmaceuticals, Becton Dickinson and Co., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2021, Bioflag Biotech’s probiotic’s Lactobacillus rhamnosus MP108 was launched in an infant product in China after the strain was previously approved for use in infants or children’s foods in April 2021.
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Market Coverage
- Segment Covered-
- By Product
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- BioGaia AB, Danone S.A., and Bio – K Plus International,among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hospital and Nursing Home Probiotics Market Report by Segment
By Product
- Lactobacillus
- Bifidobacterium
- Gram-positive Cocci
By Application
- Gut Health
- Immunity
- Wellness
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