The global parenteral nutrition market size is expected to reach USD 8.26 billion by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.8% during the forecast period. Increasing rate of natality and surging geriatric population is fueling the market growth.
As of 2014, the natality rate reported by the National Center for Health Statistics (NCHS) is 12.5 births per 1,000 populations in U.S. Furthermore, the percentage of lower weight infants was 8.0%, thereby boosting the demand for parenteral nutrition products in the country.
The realized natality is rising over the last decade and is anticipated to sustain growth over the forecast period. However, in 2011, a dip was witnessed in U.S. owing to alteration in fertility rate of the local female population. However, in the same year, hike in the number of births for foreign based immigrant citizens was also observed leading to an overall rise in birth rate.
Moreover, a large number of premature babies suffer from low weight as well as undeveloped immunity thus putting them at risk. Parenteral nutrition reduces the risk of infection and underdevelopment, thereby promoting its application.
As per the National Center for Healthcare Statistics, the premature birth rate of the U.S. is about 9.6% as of 2016, and the national authorities are working to reduce it to 8.1%.
In very low birth weight (VLBW) newborns, demand for parenteral nutrition is higher owing to low prospect of enteral nutrition. Hence, use of parenteral nutrition in premature infants results in improved intrauterine nutrient deposition, faster neurological development, and minimized risk of complications thus improving their chances for survival.
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Further key findings from the study suggest:
Single dose amino acid solution segment dominated the market in 2018 owing to increasing use of amino acid solutions that possess fewer side effects thus enhancing patient benefits
North America led the market in terms of revenue and accounted for 41.73% of the overall share in 2018. Presence of high research expenditure by private entities and government agencies in the healthcare sector and collaborations among medical device industry, regulatory authorities, and universities are responsible for the market growth
Some of the companies present in the parenteral nutrition market are B. Braun Melsungen AG; Baxter International, Inc.; Fresenius Kabi AG; Hospira, Inc.; Actavis, Inc.; Grifols International S.A.; Otsuka Pharmaceutical Factory, Inc.; and Sichuan Kelun Pharmaceutical Co. Ltd.
Grand View Research has segmented the global parenteral nutrition market based on nutrient type and region:
Parenteral Nutrition Nutrient Type Outlook (Revenue, USD Million, 2015 - 2026)
Single Dose Amino Acid Solution
Vitamins & Minerals
Parenteral Nutrition Regional Outlook (Revenue, USD Million, 2015 – 2026)
Middle East and Africa (MEA)
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