Global Parenteral Nutrition Market Overview
The key driver impacting the parenteral nutrition market is the growing prevalence of malnourished children across the globe. For instance, According to the UNICEF 2018 report, Globally, One in three reproductive-age women are anemic, and over 39% of the world’s adults are obese or overweight. Every year approximately 20 million babies globally are born underweight. It is estimated that malnutrition in all its forms can cost the country around US$3.5 trillion every year, with obesity and overweight alone cost US$500 billion per year. Moreover, the growing premature birth cases are also estimated to be a key determinant that adds growth to the market.
According to Value Market Research, the global parenteral nutrition market was valued at around USD 5.5 billion in 2019 and is estimated to grow at a CAGR of about 9.3% to reach approximately USD 8.23 billion in 2026.
In addition to this, the expanding incidence of cancer and other chronic diseases, which needs administration of vital nutrients to augment energy, hydration, and strength of cancer patients, is anticipated to increase the parenteral nutrition market demand under the forecast period. For instance, According to the National Center for Biotechnology Information (NCBI), around one in three adults suffer from multiple chronic conditions (MCCs). By the WHO report, chronic disease comprises 60% of the global burden of disease by 2020. Globally, cancer is the second leading cause of death and accounts for 6 million deaths in 2018. There are 1 in 6 deaths that occurred due to cancer.
However, the high risk of infection may hamper the global parenteral nutrition industry in the long run. The rising demand for enteral nutrition is likely to impact market growth negatively. The current industry trend, such as the increasing approvals to novel parenteral nutrition components, is expected to create new market opportunities for the key players in the coming years.
The parenteral nutrition market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, in 2016, Baxter International expanded its customer base to U.K and Denmark as it received marketing authorization for its newly launched product NUMETA G13E from the capable authorities in Denmark and U.K. Similarly, in 2018, Fresenius Kabi AG had launched mofKabiven extra Nitrogen in Europe. It is a three-chamber bag with a special protein-energy ratio. The dominating key players included in the report are Baxter International Inc., Grifols International S.A., Actavis Inc., B. Braun Melsungen AG, Fresenius Kabi AG, and Hospira Inc, and others have always been the initial targets of parenteral nutrition companies and many others.
In this market research report, the market is segmented by nutrient type, and region.
Analysis by Nutrient Type:
By nutrient type, the report is categorized into Lipid Emulsion, Carbohydrates, Trace Element, Single Dose Amino Acid Solution, and Vitamins & Minerals. Single-dose amino acid solutions dominate the nutrition type segment in 2019 with a maximum market share in terms of revenue. The rise in the influx of regulatory approved solutions leads to more demand for single-dose amino acid solutions. Moreover, recently available amino acids solutions have fewer side effects, thus providing more benefits to patients.
Analysis by Region
In the regional outlook of the global parenteral nutrition market, the North American region dominates with a maximum market share of 30% in terms of revenue. It is anticipated to show huge growth in the forecast period due to the rising occurrence of several chronic diseases and the presence of advanced healthcare facilities. In addition to that, high research expenditure by government agencies and encouraging reimbursement policies led to rising hospital admittance in the region.
APAC market is likely to expand at a significant rate during the forecast period due to the rapid economic development in nations such as India and China, along with favorable government schemes and programs related to the healthcare infrastructure up gradations across the region. Moreover, growing Foreign Direct Investment (FDI) in the healthcare and medical devices sectors by various government and private organizations contributes to the growth of the parenteral nutrition market in APAC.
Market Segmentation covered in the Report:
By Nutrient Type
- Carbohydrates
- Lipid Emulsion
- Single Dose Amino Acid Solution
- Trace Elements
- Vitamins & Minerals
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
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