The global Parenteral Nutrition Market is expanding at a rapid pace due to high prevalence and increase in incidence rate of chronic diseases, new product development and commercialization, and rise in number of pre-term birth rates across the globe. In terms of revenue, the global market was valued at US$ 5,299.5 Mn in 2017 and is projected to reach US$ 8,065.5 Mn by 2026, expanding at a CAGR of 4.7% from 2018 to 2026. The global parenteral nutrition market is also driven by a rise in the number of cases of malnutrition and approvals of novel parenteral nutrition combinations across the globe.
Parenteral nutrition is indicated for patients who cannot intake adequate nutrition orally or enterally, or who have a compromised GI track. Parenteral nutrition products include a range of macronutrients such as carbohydrates, amino acids and lipid emulsions, and micronutrients such as vitamins, trace elements, and minerals. The parenteral nutrition market is majorly driven by increase in incidence of chronic diseases such as cancer, Crohn’s diseases, and HIV. Extensive research and development activities by key players to develop new parenteral nutrition products and rising approvals to novel parenteral nutrition components drive the market.
Parenteral nutrition is considered as an essential treatment therapy to provide adequate nutrition support to malnourished patents. Globally, the incidence of malnutrition is rising rapidly due to poor dietary habits in developed countries and high poverty rate in developing regions. For example, according to the World Health Organization, under-nutrition accounts for more than 11% of the global burden of disease and is considered to be number one risk to health, worldwide. The organization also stated that malnutrition contributes around one-third of all child deaths globally. Moreover, the United Nations Children's Fund (UNICEF) estimated that approximately 195 million children (less than five years of age) are affected by malnutrition each year.
Of these, around 20 million children suffer from severe acute malnutrition and another 175 million are undernourished. Furthermore, rise in cases of malnutrition among the geriatric population propels the market. According to the National Resource Center on Nutrition, Physical Activity & Aging, around 1 million housebound older people are malnourished every year in North America. The R&D pipeline of leading companies to develop novel parenteral nutrition drugs is expanding significantly, owing to increasing investments. These companies strive to develop advanced or standard nutritional products that safely and sufficiently satisfy nutrition requirements of patients in different clinical conditions. Several companies have successfully received regulatory approvals for novel and effective parenteral nutrition drugs in the last few years.
Request to View Sample of Report -
In terms of type of nutrition, the global parenteral nutrition market has been segmented into carbohydrates, parenteral lipid emulsions, single dose amino acid solutions, trace elements, electrolytes, & minerals, and vitamins. Of all the products available in the global parenteral nutrition market, the single dose amino acid solutions nutrient segment held a significant share of 34.3% of the market in 2017. Research indicates that it is likely to be the leading nutrient segment, as several leading players are introducing unique amino acid-based parenteral nutrition products. The abundant availability of these products is expected to be the main reason for their soaring success during the forecast period. Reports also suggest that the parenteral lipid emulsion nutrient segment is projected to expand at a CAGR of 5.1% between 2018 and 2026.
Comments
Post a Comment