The global parenteral nutrition market was valued at 4.5 billion in 2015. The increasing prevalence of chronic conditions and malnutrition along with the rapid growth in the geriatric population are the vital impact rendering drivers for the parenteral nutrition market over the forecast period. Furthermore, the increasing natality rate is also expected to be one of the major drivers for the parenteral nutrition market.
Parenteral nutrition is delivered through the superior vena cava, either peripherally or centrally, this helps in crossing the first-pass effect due to which, its use is further increased.
Awareness spread through various government bodies is one of the key drivers of the market. For instance, educational campaigns are carried out for spreading health awareness, and initiatives are taken to promote health and social care with emphasis laid on nutrition.
North America Parenteral Nutrition market, by type of nutrition, 2013 - 2024 (USD Billion)
Furthermore, the increasing global population base of cancer patients is expected to catalyze the applicability of the market, thus fueling its growth. Cancer treatments include radiation and chemotherapy which lead to the loss of nutrients and appetite; parenteral nutrition addresses these issues related to imbalanced nutrition.
Parenteral drug administration provides the benefit of fast action and lower dose delivery, which prevents various adverse effects as a consequence of dietary imbalances thereby promoting market growth. However, the high-risk of infection during administration and the growing preference among patients for enteral nutrition are the major constraints of this market.
The market is anticipated to be driven by the increasing population base of cancer-induced anemia patients. According to the World Health Organization (WHO), around 14 billion new cases of mortality due to cancer were accounted in 2014. The organization also stated that about 70% increase in the cases is expected by 2025, which is expected to fuel the market growth.
On the basis of the type of nutrient, the industry is segmented into carbohydrates, parenteral lipid emulsion, trace elements, single dose amino acid solution, and vitamins and minerals. Single dose amino acid solution held the largest share in 2014 as individuals of all ages can consume them and they have comparatively fewer side-effects.
The increasing use of dextrose in parenteral nutrition for premature infants is the major driver for the growth in the carbohydrate segment. The carbohydrate segment captured more than 25.0% share of the global parenteral market in 2014. Whereas, parenteral lipid emulsion has potential benefit as a drug delivery vehicle due to which it is expected to show the highest growth. It is mainly used for the administration of drugs that prevent thrombophlebitis and that reduce irritation and pain.
North America and Europe collectively account for the more than 40.0% share of parenteral nutrition market. Approval of the new parenteral formulations is one of the reasons for the growth of the market in these regions. Furthermore, the increasing geriatric population and the rising prevalence of chronic diseases due to the lifestyle changes is expected to positively impact the industry over the forecast period.
Asia Pacific is anticipated to be the fastest growing region owing to the increasing population prone to malnutrition. The region encompasses various developing and third-world countries wherein primarily neonates and children are observed to suffer from malnutrition. In 2014, according to a report published by the UNICEF, there are about two billion individuals who suffer from the deficiency of vitamins and minerals in Asia Pacific.
Key market players of the parenteral nutrition industry areB. Braun Melsungen AG, Baxter International Inc., Fresenius Kabi AG, Hospira Inc., Actavis Inc., Grifols International S.A., Otsuka Pharmaceutical Factory Inc., SichuanKelun Pharmaceutical Co., Ltd.
These companies are actively involved in improving the current product portfolio of parenteral nutrition to sustain their position in the market. Also, new drug development and their entry in the untapped territories are expected to boost market growth.
For instance, in 2016, Baxter International received marketing authorization for its product NUMETA G13E from the competent authorities in the U.K. and Denmark. Whereas, the lack of promotion and storage facilities for parenteral nutrition are some of the major constraints faced by the players in this market.
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