Reports And Data

Market Size – USD 6,018.4 Million in 2020, Market Growth - CAGR of 5.3%, Market Trends – Product launches and increased awareness of Parenteral Nutrition

NEW YORK , NY, UNITED STATES, April 22, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Parenteral Nutrition market was valued at USD 6,018.4 Million in 2020 and is expected to reach USD 9,158.7 Million by 2028, at a CAGR of 5.3%. Parenteral nutrition, or intravenous nutrition, is a method of bringing nutrition to your body through the veins. This form of diet is used to help people who cannot draw their essential nutrients from food. It has become a well-established intervention for the following indications: to maintain the lives of patients with short bowel syndrome; for perioperative use in patients with nutritional deprivation; to improve the quality of life of patients with inflammatory bowel disease; to help with the healing of enter-cutaneous and pancreatic fistulas. Also, used widely for hypermetabolic conditions such as sepsis, trauma, burns, and acquired immune deficiency syndrome; in neonatal and pediatric patients. It is considered to be a crucial source for meeting the nutritional needs of the body, especially in cancer patients. According to the World Health Organization, cancer is the second leading cause of death in the world and is responsible for about 9.6 million deaths in 2018. Worldwide, approximately one in six deaths are due to cancer. With an increase in the number of cancer cases, the demand is expected to increase with a high CAGR. In addition to cancer, other health issues such as Crohn's disease, ischemic bowel disease, and increased prevalence of chronic diseases have increased adoption provide patients with essential nutrients. These nutrients are vital for maintaining high levels of energy, hydration, and strength. Besides, the growing gap between needs and the actual absorption of essential nutrients into the body is fueling up the industry.

Increase in geriatric population has led to an increase in the number of patients being admitted in the healthcare institutions and hospital eventually increasing the demand. Growing awareness and rise in disposable income has led to an increased adoption. Rising metabolic disorders and chronic illness is expected to further drive the growth of the industry. However, strict rules and regulations laid down by the government associated with approval of parenteral nutrition and lack of awareness among the people are the major hindrance for industry during 2021-2028.

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Further key findings from the report suggest

Parenteral Nutrition market is growing at a CAGR of 4% in Asia Pacific followed by North America and Europe, with 5.8 % and 5.5% CAGR, respectively. High prevalence of chronic diseases among the geriatric population is expected to drive the market growth.

As of 2018, Single Dose Amino Acid Solution is the dominating the industry which holds 32.7% of the global market. North American regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions

It is also considered to be a life-saving therapy, but it is complex. Some of these complications include infection, metabolic; however, management by an interdisciplinary nutritional support team can optimize outcomes for patients associated with this therapy.

Diseases of the bloodlines through which nutrition is administered can be severe and require interruption of diet, antibiotic intake, and line exchange which are some of the complications encountered during therapy.

Increased collaboration and partnership among key players is expected to increase the market share in the upcoming years. For example, Baxter International Inc. and Laboratoire Aguettant SAS have signed an exclusive worldwide licensing and distribution agreement for micronutrients, which are essential micronutrients used in therapy.

Increased government and non-governmental organization initiatives can increase the industry share. For example, on October 10, 2018, the American Parenteral and Enteral Nutrition Society (ASPEN), an organization that promotes the science and practice of clinical nutrition, and Baxter International Inc., a world leader in nutrition Clinical has published a series of educational videos on the proper use of parenteral nutrition.

To increase the market share, manufacturers are introducing new client-centered therapies. For example, infusion therapy, depending on the underlying disease, the solution contains a suitable active pharmaceutical ingredient.

In addition, the launch of innovative and compelling products is driving the growth of the market due to increased adoption. For example, the Celsite Power, injectable access ports, launched by B. Braun Melsungen offer high security and reliability to patients, nurses, doctors, and hospital administrators.

Key participants include Baxter International Inc.; Grifols International S.A.; Actavis Inc.; B. Braun Melsungen AG; Fresenius Kabi AG; Hospira Inc., Claris Lifesciences Limited, Sichuan Kelun Pharmaceutical, Pfizer and Aculife (Nirlife)

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Parenteral Nutrition Market Segmentation:

Nutrient Type (Revenue, USD Million; 2018–2028)

Carbohydrates
Lipid Emulsion
Single Dose Amino Acid Solution
Trace Elements
Vitamins & Minerals

Consumer Type (Revenue, USD Million; 2018–2028)

Children & New-born
Adults

End Use (Revenue, USD Million; 2018–2028)

Hospital
Clinic
Others

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Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA

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