Parenteral Nutrition Market To Expand At About 15.8% CAGR During Forecast Period – ZMR
As per the research report by Zion Market Research, in 2017, the valuation of global parenteral nutrition market was around USD 1.62 billion and is projected to attain a value of about USD 4.39 billion by 2024, expanding at about 15.8% CAGR between 2018 and 2024.
Parenteral nutrition is one of the ways of feeding nutritional products like carbohydrates, proteins, minerals, fats, vitamins, and so on if the person is not able to consume the necessary nutrition orally. It can be used by youngsters, infants, and adults. Further, parenteral nutrition can also be adopted by individuals suffering from constipation, irritable bowel syndrome (IBS), or any other stomach-associated disorders & diseases, and are incapable to digest or eat food in order to retain body’s nutritional status. Parenteral nutrition is a disinfected liquid natural formula given through the veins directly with the assistance of intravenous tube.
The major factors driving the growth of the global parenteral nutrition market include the existence of huge figure of malnourished kids, rising premature births, elevated natality rate across the globe, increasing incidence of cancer that needs administration of necessary nutrients to boost energy, strength, & hydration of cancer patients, and the growing implementation by healthcare providers for the supplying nutrients in chronically ill elderly patients. Further, numerous advantages presented by parenteral nutrition like easy to follow, stimulates stomach blood flow, superior in terms of efficient nutrients, preserves muscle catabolism, protects from bacteria, and so on at reasonable costs are also projected to fuel the market growth during the forecast period.
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In addition, rising digit of programs by healthcare organizations and government to spread alertness about significance and need of balanced nutritional value within the body along with the growing spending by government to offer nutritional supplements for undernourished kids are other factors projected to boost the expansion of the global parenteral nutrition market in the coming period. Furthermore, the rise in consents of novel parenteral components and increase in R&D activities by key firms for new product development are a few other reasons contributing to the expansion of the global parenteral nutrition market.
The global parenteral nutrition market is classified based on nutrient type, end-users, and region. On the basis of nutrient type, the market is divided into lipid emulsion, carbohydrates, trace elements, and single dose amino acid solution. Among these, single dose amino acid solution segment is expected to hold the greatest market share because of the rising usage of amino acid solutions that have fewer side-effects thereby augmenting patient benefits. On the basis of end-users, the market is segmented in clinics, hospitals, and others.
The global parenteral nutrition market, on the basis of region, is diversified into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. In 2018, the global market was governed by North America on account of the existence of high research spending by private entities and government agencies in the healthcare sector; partnerships among regulatory authorities, universities, & the medical device industry; and technologically cutting-edge medical devices. Furthermore, the presence of advanced healthcare facilities, the increasing incidence of numerous chronic diseases, together with satisfactory reimbursement policies have resulted in rise in hospital admission that is projected to fuel this regional market in the years to come. In addition, Asia Pacific is also anticipated to observe considerable expansion during the forecast period. This growth can be attributed to factors such as economic development in countries like Japan, China, and India, together with favorable government programs associated with the reimbursement policies and development of healthcare infrastructure.
Some of the key players in the global parenteral nutrition market include Fresenius Kabi AG, B. Braun Melsungen AG, Pfizer Inc., ALLERGAN, Grifols, S.A., Baxter, Otsuka Pharmaceutical Factory, Inc, Aculife, Vifor Pharma, Ori Bionature (Malaysia) Sdn Bhd, Grifols, S.A., and Servona GmbH, among others.
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- CDN Newswire