Published: Nov, 2016
A largely consolidated global parenteral nutrition market holds three names – B. Braun Melsungen AG, Fresenius SE & Co. KGaA, and Baxter International, Inc. – to have led in 2014 with a total share of 71.2% in terms of revenue. With less than 20% of the market taken up by regional players, the globally prominent ones are looking to expand their borders even further.
As per a research report released by Transparency Market Research, the global parenteral nutrition market is expected to be a harsh environment for new entrants due to the high entry barriers posed by expensive research and development trends as well as a mostly consolidated market where consumers are more attracted towards popular and globally prominent brands. The global parenteral nutrition market is expected to reach US$6.87 bn by the end of 2023. It is also expected to reach US$4.71 bn by the end of 2016. Single dose amino acid solutions are expected to form the leading nutrient segment in the global parenteral nutrition market till 2023, by when it is expected to generate US$2.37 bn in revenue. This segment is also expected to remain leading in terms of growth rate for the given forecast period.
Heavy Parenteral Nutrition Demand Posed in APAC
North America has been the leading player in the global parenteral nutrition market so far and is expected to remain in the top spot for till 2024. It is followed by Europe in terms of revenue generation. Both regions have been key proponents of parenteral nutrition and will continue to have a high level of impact on the global market’s standing. At the same time, Asia Pacific is racing up in terms of growth in demand. It is currently the leading region in the global parenteral nutrition market in terms of CAGR by a long way, influenced by the growing population and increasing healthcare outreach.
Chronic Diseases and Malnutrition Counts on the Rise, Parenteral Nutrition Deemed Productive Solution
Two of the leading factors driving the manufacturers of parenteral nutrition – especially in the developed economies – are the growing number of people suffering from chronic diseases and malnutrition. “Both factors are definitely not mutually exclusive, as prolonged malnutrition is known to be a strong precursor to chronic diseases. Both problems can be solved simultaneously through the efficient use of parenteral nutrition. With bodies such as the WHO stating the number of people suffering from chronic kidney diseases, GI diseases, and other common chronic diseases on the rise at a very advanced rate, it is simply that important for people to look to parenteral nutrition for answers, thereby propagating the growth of this market from a global perspective,” states a TMR analyst.
Complementing the above driver is the increase in the number of approvals for novel parenteral nutrition programs. The research and development pipeline has been laden with novel treatment methods supporting parenteral nutrition as an answer to the largely prevalent nutrition issues among the working urban population.
Heavy Side Effects Continue to Deter Patients from Parenteral Nutrition
Although the global parenteral nutrition market shows the promise of providing a key form of treatment to combat the growing number of patients with chronic illnesses, it is not without imperfections. Parenteral nutrition serves its purpose as a supplementary diet to cover up the requirements in nutrition for patients, but for the same reason requires regular medical attention and regulation. Medical monitoring needs to be highly active to prevent any complications in health that may occur. Inefficient usage of parenteral nutrition will not yield any fruitful results, while improper administration may cause severe health complications. The leading problem associated with the side effects of improper administration of parenteral nutrition is catheter-related bloodstream infection. It is a serious condition and can often result in deadly complications in a patient’s health while being a heavy burden on healthcare expenditure. Manufacturers are taking steps in the direction of using modern materials and manufacturing processes to combat these issues.
“The emerging economies are showing a great deal of promise of growth in the global parenteral nutrition market. Nations such as China, India, Brazil, and Mexico hold a very large patient pool which, coupled with rising healthcare expenditure, is creating an optimal environment of growth for global players as well as regional ones. Grifols, Fresenius Kabi, and Baxter International are already known to have established a strong presence in developing economies, and other global players are following suit,” adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, “Parenteral Nutrition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
Key segments of the Global Parenteral Nutrition Market
- Global Parenteral Nutrition Market, By Type of Nutrient
- Parenteral Lipid Emulsion
- Single Dose Amino Acid Solutions
- Trace Elements
- Vitamins and Minerals
- Global Parenteral Nutrition Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Rest of MEA
- North America
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