July 21, 2021
According to the research report titled ‘Global Parenteral Nutrition Market Size study, by Nutrient Type (Carbohydrates, Lipid Emulsion, Single Dose Amino Acid Solution, Trace Elements and Vitamins & Minerals) and Regional Forecasts 2021-2027’, available with Market Study Report LLC, global parenteral nutrition market was valued at 5.9 billion in 2020 and is projected to record 5.5% CAGR over 2021-2027, subsequently amassing USD 8.58 billion by the end of forecast period.
Increasing incidences of pre-mature delivery and growing cases of malnutrition among children are primarily driving global parenteral nutrition market growth. Moreover, booming elderly population who require nutritional support is further boosting product demand.
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According to UNICEF, undernutrition is responsible for over half of all deaths in children under the age of five, with low- and middle-income countries being the most affected ones. Undernutrition puts children at danger of dying from common infections while increasing the frequency and severity of these infections, with many cases of delayed recovery.
The World Health Organization cited that in 2020, approximately 1.9 billion adults were reported to be overweight or obese, while 462 million being underweight. The UN aims to end all forms of malnutrition by 2030, contributing to the expansion of worldwide parenteral nutrition industry.
For the unversed, parenteral nutrition is intravenous nutrition administration in the body of a person who cannot consume enough food through mouth or tube. The nutrition typically comprises protein, electrolytes, fat, carbohydrate, vitamins, and minerals.
Rising support from the government in the form of policies and funds for addressing the malnutrition problem is anticipated to add to the industry progression in the coming years.
Speaking of the negatives, taking nutrients parenterally involves greater risk of infection which is likely to hamper the industry remuneration over 2021-2027.
Coming to regional gamut, North America, Asia Pacific, Latin America, and Europe are the leading contributors to the overall market development. Among these, North America has significantly contributed to worldwide parenteral nutrition industry share in the recent past, owing to rising expenditure on healthcare, and increasing disposable income.
On the other hand, Asia Pacific industry is expected to amass notable returns by the year 2027, creditable to increasing incidences of chronic illness, rising disposable income, and booming population in the region.
Major contenders in global parenteral nutrition marketplace are Aculife Healthcare Pvt. Ltd. (Nirlife Healthcare), Vifor Pharma Group, Sichuan Kelun Pharmaceutical Co. Ltd., Baxter International Inc., Otsuka Pharmaceutical Factory Inc., Pfizer Inc. (Hospira Inc.), Grifols S.A., Allergan plc, Fresenius Kabi AG, and B. Braun Melsungen AG.