Parenteral Nutrition Market is projected to expand at a high CAGR of 4.7% from 2
Posted by ankushraoaniket1tmr on May 16th, 2019
Transparency Market Research (TMR) has published a new report titled, “Parenteral Nutrition Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global parenteral nutrition market was valued at US$ 5,299.5 Mn in 2017. It is projected to expand at a CAGR of 4.7% from 2018 to 2026. High prevalence of chronic disorders, rise in cases of malnutrition, and new product approvals are anticipated to drive the global market in the next few years. North America is expected to dominate the global parenteral nutrition market during the forecast period, followed by Europe. High prevalence of malnutrition in hospitalized patients, increase in the geriatric population, and approvals of novel parenteral nutrition combination in the U.S. and Europe are likely to drive the parenteral nutrition market in these regions during the forecast period. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period.
High prevalence and increase in incidence rate of chronic diseases to drive market
High prevalence and rise in incidence rate of chronic diseases across the globe is a key factor driving the global parenteral nutrition market. The rise in cancer, AIDS, diabetes, Crohn’s disease, gastro-intestinal disorders, and short bowel syndrome cases has also fuelled the consumption of parenteral nutrition in recent years. For instance, according to International Agency for Research on Cancer (IARC), around 18.1 million new cases and 9.6 million deaths are estimated to have occurred in 2018. Moreover, the National Kidney Foundation stated that around 10% of the world’s population is affected by chronic kidney disease each year. The Centers for Disease Control and Prevention also noted that more than 30 million people in the U.S. have chronic kidney disease in the year 2017. Thus, the high prevalence and substantial rise in incidence rate of chronic diseases across the globe is a key factor driving the global parenteral nutrition market.
Parenteral lipid emulsions to propel the parenteral nutrition market
The report offers a detailed segmentation of the global parenteral nutrition market based on different types of nutrition administered to the patients. Based on type of nutrition, the global market has been segmented into carbohydrates, parenteral lipid emulsions, single dose amino acid solutions, trace elements, electrolytes, & minerals, and vitamins. Infusion of lipid emulsions delivers high energy supply, facilitates the prevention of high glucose infusion rates, and is necessary for the supply of essential fatty acids. Expansion of the parenteral lipid emulsions segment is due to its potential benefits to use as a drug delivery vehicle. For instance, administration of lipid emulsions act as essential drug carriers, which results in reduced pain, irritation, and prevention of thrombophlebitis. Moreover, lipid emulsions containing a mixture of medium and long chain triglycerides (MCT/LCT) have proven to be highly effective in critically-ill patients. This mixture of lipid emulsion does not hamper the functioning of the liver and causes minimal interference with pulmonary hemodynamics. According to the Society of Critical Care Medicine, 5.7 million patients are admitted to the intensive care unit in the U.S. every year. Most of these include critically-ill patients who need high level of acute care. Thus, rising number of critically-ill patients is likely to boost the lipid emulsions segment during the forecast period.
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Asia Pacific offers high incremental opportunity
The parenteral nutrition market in Asia Pacific is projected to expand at a notable CAGR of 7.9% during the forecast period. High prevalence of chronic kidney disorders in highly populated countries, such as China and India, rapid improvement in health care infrastructure, increase in access to health care facilities, and rise in per capita health care expenditure in the region are likely to fuel the market in Asia Pacific during the forecast period. Large base of pharmaceutical companies in countries such as India, Japan, and China also drives the market in the region. Emerging economies and expansion of pharmaceutical markets in countries, such as China, India, Indonesia, Singapore, Taiwan, and Thailand are expected to propel the market in Asia Pacific. Rising cases of preterm birth, which leads to malnutrition, is a key reason fuelling the consumption of parenteral nutrition in Asia Pacific.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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