The progress of the global parenteral nutrition market is based on the high prevalence of chronic conditions across the globe. The rise in cancer, AIDS, diabetes, Crohn’s disease, gastro-intestinal disorders, and short bowel syndrome cases has also led a growth in the consumption of parenteral nutrition in the recent years. The World Health Organization (WHO) affirmed this fact with statistics indicating that there will be a 70% rise in the number of new cancer cases between 2025 and 2035. The Crohn’s & Colitis Foundation of America also provided grim figures indicating that there will be 70,000 new cases of Crohn’s disease each year. Thus, the rising health complications will propel the demand for parenteral nutrition across health facilities.
These supportive factors are expected to create an opportunity for this market, which will be worth US$6.9 bn by 2023 as compared to US$4.1 bn in 2014. Between the years 2015 and 2023, this market is expected to expand at a CAGR of 5.7%.
North America Accounted for Over 40% of the Parenteral Nutrition Market in 2014
North America was the leading geographical segment in the global parenteral nutrition market as of 2014, accounting for nearly 40.1% share. The high rate of approvals from the U.S. FDA and supportive insurance policies that cover expenditure on parenteral nutrition are expected to keep this region in the leading position during the forecast period. The North America parenteral nutrition market that comprises the U.S. and Canada will also be driven by rising number diabetes and cancer cases. Furthermore, companies are also trying to expand their operations in Canada to gain a stronger foothold by meeting the unmet needs of the patients.
Meanwhile, the parenteral nutrition market in Asia Pacific is expected to surge at the highest pace of 7.3% CAGR between 2015 and 2023. The emerging economies and developing pharmaceutical markets of countries such as China, India, Indonesia, Singapore, Taiwan, and Thailand amongst others are expected to encourage the growth of this market within Asia Pacific. The rising cases of preterm birth, which leads to malnutrition is the prime reason for rising consumption of parenteral nutrition in Asia Pacific.
Single Dose Amino Acid Solutions Nutrients is Most Attractive Product Segment
Out of all the products available in the global parenteral nutrition market, the single dose amino acid solutions nutrient segment captured a significant share of 34.14% in 2014. Research indicates that this segment will be the leading nutrient segment as several leading players are introducing unique amino acid-based PN products. The abundant availability of these products is expected to be the main reason for their soaring success in the forecast period. Reports also suggest that the parenteral lipid emulsion nutrient segment will grow at the highest CAGR of 6.2% amongst all other nutrient segments between 2015 and 2023.
The leading players shaping the vendor landscape of the global parenteral nutrition market are Sichuan Kelun Pharmaceutical Co., Ltd., Allergan plc (Actavis plc), Fresenius SE & Co. KGaA, Grifols S.A., Baxter International, Inc., Claris Lifesciences Limited, and B. Braun Melsungen AG, Pfizer, Inc. (Hospira, Inc.) amongst others. Companies are trying to seek approvals for their new parenteral nutrition formulations from concerned authorities such as the U.S. FDA to launch new products in the market. This effort is focused at both grabbing new market shares and providing for the deficit of parental nutrition in developing regions.
Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Global Parenteral Nutrition Market: Market Snapshot
2.2 Global Parenteral Nutrition Market Revenue, by Type of Nutrient, 2014 (US$ Mn)
2.4 Global Parenteral Nutrition Market Share, by Geography (Value %)
Chapter 3 Global Parenteral Nutrition Market– Industry Analysis
3.2 Market Dynamics
3.2.1 Market Driver
220.127.116.11 Increase in incidence of chronic diseases
18.104.22.168 Rise in cases of malnutrition
22.214.171.124 Approvals of novel parenteral nutrition combinations
126.96.36.199 Aging population
3.2.2 Market Restraint
188.8.131.52 Side effects or complications related to parenteral nutrition products
3.2.3 Market Opportunity
184.108.40.206 Expanding footprint in emerging nations that offer sustained growth opportunities
3.3 Porter’s Five Forces Analysis: Global Parenteral Nutrition Market
3.4 Event Impact Analysis: Global Parenteral Nutrition Market
3.5 Market Attractiveness Analysis: Global Parenteral Nutrition Market
3.6 Global Market Share – Parenteral Nutrition Market (2014) (%)
3.6.1 North America Market Share – Parenteral Nutrition Market (2014) (%)
3.6.2 Europe Market Share – Parenteral Nutrition Market (2014) (%)
3.6.3 Asia Pacific Market Share – Parenteral Nutrition Market (2014) (%)
3.6.4 Latin America Market Share – Parenteral Nutrition Market (2014) (%)
3.6.5 Middle East & Africa Market Share – Parenteral Nutrition Market (2014) (%)
3.6.6 Market Share - Carbohydrates Parenteral Nutrition Market (2014) (%)
3.6.7 Market Share - Parenteral Lipid Emulsion Parenteral Nutrition Market (2014) (%)
3.6.8 Market Share - Single Dose Amino Acids Parenteral Nutrition Market (2014) (%)
3.6.9 Market Share - Other Parenteral Nutrition Products Market (2014) (%)
Chapter 4 Market Segmentation - By Type of Nutrient
4.2 Global Parenteral Nutrition Market Revenue, by Types of Nutrient, 2013–2023, (US$ Mn)
4.2.1 Global Carbohydrates Market Revenue, 2013–2023, (US$ Mn)
4.2.2 Global Parenteral Lipid Emulsions Market Revenue, 2013–2023, (US$ Mn)
4.2.3 Global Single Dose Amino Acid Solutions Market Revenue, 2013–2023, (US$ Mn)
4.2.4 Global Trace Elements Market Revenue, 2013–2023, (US$ Mn)
4.2.5 Global Vitamins and Minerals Market Revenue, 2013–2023, (US$ Mn)
Chapter 5 Market Segmentation – By Geography
5.1 Global Parenteral Nutrition Market Revenue, by Geography, 2013–2023 (US$ Mn)
5.2 North America Parenteral Nutrition Market Revenue, by Country, 2013–2023 (US$ Mn)
5.3 Europe Parenteral Nutrition Market, by Country, 2013–2023 (US$ Mn)
5.4 Asia Pacific Parenteral Nutrition Market Revenue, by Country, 2013–2023 (US$ Mn)
5.5 Latin America Parenteral Nutrition Market Revenue, by Country, 2013–2023 (US$ Mn)
5.6 Middle East & Africa Parenteral Nutrition Market Revenue, by Country, 2013–2023 (US$ Mn)
Chapter 6 Recommendations
6.1 Expand presence in developing economies
6.2 Increase in research and development activities
6.3 Long-term contract with hospitals and community care centers
Chapter 7 Company Profiles
7.1 Allergan plc (Actavis plc)
7.2 Baxter International, Inc.
7.3 B. Braun Melsungen AG
7.4 Claris Lifesciences Limited
7.5 Fresenius SE & Co. KGaA
7.6 Grifols S.A.
7.7 Pfizer, Inc. (Hospira, Inc.)
7.8 Sichuan Kelun Pharmaceutical Co., Ltd.
Global Parental Nutrition Market: Overview
Malnutrition poses a great risk to human life. The World Health Organization (WHO) states that malnutrition forms the reason for 11 percent of the diseases prevailing across the world. Moreover, the rising occurrence of malnutrition can lead to the emergence of problems such as food insecurity and political unrest. Therefore, the increasing incidence coupled with the rising concerns is promoting the uptake of parental nutritional.
According to a report by Transparency Market Research (TMR), the global parental nutrition market will register a CAGR of 5.7% from 2016 to 2023, reaching a valuation of US$6,874.1 mn by 2023. The report serves with a 360-degree view of the global parental nutrition market by providing insights into all important aspects, including trends and opportunities, nutrient type and regional segmentation, and vendor landscape.
Global Parental Nutrition Market: Drivers and Restraints
The growing incidence of chronic diseases such as ischemic bowel disease, gastrointestinal disorders, diabetes, Crohn’s disease, and cancer is one of the primary growth stimulants of the global market. In addition, the burgeoning count of malnourished children, especially in developing and less developed countries, is escalating the development of the parental nutrition market. Furthermore, the widening base of geriatrics across the globe is also stoking the growth of the market, since aged people are more likely to suffer from the deficiency of several essential nutrients.
On the flip side, the upward rise of the market is marred by the rising health risks incurred due to improper monitoring. Various cases of unexplained gaining of weight, allergic reactions, muscle pain, and shortness of breath have been reported after the uptake of parental nutrition. Furthermore, a study by The American Society for Nutrition states that consistent utilization of parenteral nutrition therapy may lead to metabolic complications and liver diseases.
Global Parental Nutrition Market: Geographical Segmentation
From the geographical standpoint, the report classifies the global parenteral nutrition market into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America will continue to be the frontrunner in the global arena until 2023. The growth of the region can be attributed to the favorable reimbursement scenario. The U.S. and Canada will be key revenue contributors to the region. The expanding pool of patients suffering from cancer and diabetes and growing geriatric population are triggering the adoption of parental nutrition in these countries. Furthermore, the increasing efforts by regional players to expand their operations within Canada is working in favor of the North America parenteral nutrition market.
On the other hand, Asia Pacific is anticipated to be the most promising region, progressing at a noteworthy 7.30% CAGR during the review period. The flourishing growth of the pharmaceutical industry, particularly in countries such as Taiwan, Thailand, Indonesia, Singapore, China, and India, is augmenting the growth of the region. Besides this, the mounting cases of preterm birth, resulting in increased cases of malnutrition is also contributing to the growth of the region.
Global Parental Nutrition Market: Competitive Landscape
The majority of players in the global parental nutrition market are aiming at enhancing their line of products and expanding manufacturing facilities to ensure utmost safety and quality of their offerings. Market participants are also focusing towards entering into strategic joint ventures in order to consolidate their position in the market. Some of the key companies operating in the global parental nutrition market are Baxter International Inc., Fresenius SE & Co. KGaA, Sichuan Kelun Pharmaceutical Co. Ltd., Allergan plc. (Actavis plc.), Grifols S.A., and Pfizer Inc.