Published: Apr, 2018
Braun Melsungen AG, Fresenius SE & Co. KGaA, and Baxter International, Inc., who collectively held more than two-third of the total shares in the global parenteral nutrition market as of 2017, are focusing on improving their line of products, reports Transparency Market Research. The trend of winning approvals for their new formulations from concerned authorities is also helping them gain a significant footprint in the market, observes TMR.
Strategic joint ventures are also being considered by companies to expand their businesses and enhance their product portfolio in the near future. “Plans to expand manufacturing facilities are also underway. This move will help companies ensure utmost safety, unquestionable quality, and remarkable efficiency of the product,” asserts the head analyst of this report.
Parenteral Nutrition Becomes Critical to Saving Lives - A Key Growth Enabler
The focal point of parenteral nutrition is to provide chronically ill patients adequate nutritional support. The high incidence of chronic conditions such as cancer, gastro-intestinal disorders, ischemic bowel disease, diabetic complications, and Crohn’s disease amongst others is propelling the demand for parenteral nutrition. As this form of oral nutritional supplement becomes the only way of treating the immobilized patient, the demand for these nutrients is witnessing a phenomenal rise.
According to the World Health Organization about 11% of the global burden of disease is due to malnutrition and is considered to be a huge risk to human life. As this number will increase in the coming years citing issues of political unrest, food security, and changing environmental conditions, the demand for parenteral nutrition will remain persistent.
Side Effects of Parenteral Nutrition Hamper Market Growth
The global parenteral nutrition market faces the huge risk of health complications due to poor monitoring. The American Society for Nutrition also stated that prolonged usage of parenteral nutrition therapy can lead to metabolic complications and liver diseases. Furthermore, shortness of breath, allergic reactions, muscle pain, and unexplained weight gain are also hampering the growth of this market.
However, a large patient pool in emerging economies of China, Brazil, India, and Brazil offer a tremendous scope for growth to the parenteral nutrition market. Furthermore increasing investment by leading players in the developing regions of Asia Pacific and Latin America to increase production of parenteral nutrition is also expected to create large opportunities to register a high growth.
Large Patient Pool in Asia Pacific makes it Lucrative Region
The research suggests that the opportunity of the global parenteral nutrition market will be worth US$6,874.1 million by the end of 2023, swelling up from US$5,023.2 million as of 2017. The market is expected to expand at a steady CAGR of 5.4% from 2017 and 2023. On the other hand, Asia Pacific will the key geographical segment as it will expand at a CAGR of 7.0% during the forecast period due to growing cases of chronic diseases such as cancer and AIDS. The parenteral lipid emulsion nutrient segment will grow at the highest CAGR of 5.9% during the same forecast period, leading the overall nutrient segment.
- High prevalence of chronic diseases and related malnutrition speeds up consumption of parenteral nutrition in healthcare facilities
- Seeking approvals for new formulations becomes an important strategy for companies to gain market presence
- Large patient pool and high incidence of cancer and AIDS makes Asia Pacific an attractive market
The information presented in this review is based on a Transparency Market Research report, titled, “Parenteral Nutrition Market (Type of Nutrient - Carbohydrates, Parenteral Lipid Emulsion, Single Dose Amino Acid Solutions, Trace Elements, and Vitamins and Minerals) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2023.”
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
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
US Office Contact