April 06, 2020
According to the research report titled ‘Parenteral Nutrition Market Size By Composition, By Consumer, By End-use Industry Analysis Report, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global parenteral nutrition market is expected to surpass USD 5704.6 million by the year 2025.
Rising cases of malnutrition across the globe is a major factor driving the parenteral nutrition market growth. Geriatric population is more susceptible to chronic diseases and thus, growing elderly population is also fostering the demand for parenteral nutrition products across the globe. However, strict regulatory scenario such as European Society for Clinical Nutrition & Metabolism and stringent FDA approval may hinder the market growth.
As per composition, the report cites that amino acids segment is expected to grow with a CAGR of 3.8% during 2019-2025. Rising prevalence of protein-energy malnutrition, hepatic insufficiency and renal disorders are fueling the segmental growth.
In terms of consumer type, children and new-born segment was worth USD 1,820.8 million in 2018 and will register consistent growth during the forecast period. Increased pervasiveness of bronchitis, anemia, tuberculosis, leukemia, chicken pox and asthma are fostering the demand for parenteral nutrition products among infants.
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Citing the end-use landscape, hospitals segment held 70% share of parenteral nutrition market in 2018 and is presumed to record continuous growth during the estimated timeframe. The growth is attributed to availability of high quality therapeutic solutions and facilities to offer complete parenteral care for patients with complex clinical conditions in hospitals.
Considering the geographical landscape, the report states that U.S. parenteral nutrition industry to exhibit a growth rate of 3.3% during the projected timeframe. Factors such as increasing awareness pertaining to benefits of parenteral nutritional products, increased pervasiveness of chronic diseases, escalating healthcare expenditure and high concentration of key industry players are augmenting the regional demand.
On the other hand, parenteral nutrition market in India was worth USD 199.1 million in the year 2018 and will witness consistent expansion during the estimated timeframe. Growing elderly population and rising birth rate are facilitating the business scenario in India.
The prominent companies operating in parenteral nutrition market are Zhuzhou Yuancheng Hezhong Technology Development Co. Ltd., Xiamen ShengLang SaiChuang Biological Technology Co. Ltd., Xi'an Libang Enterprises, Wuhan Shu Ou Technology Co., Ltd., Sichuan Kelun Pharmaceutical Co. Ltd., Shaanxi Iknow Biotechnology Co., Ltd, Otsuka Pharmaceutical Factory, Inc., ICU Medical, Hubei Shinrezing Pharmaceutical Technology Co. Ltd., Guangzhou Green Cross Pharmaceutical Co. Ltd., Guangzhou Baiyunshan Mingxing Pharmaceutical Co. Ltd., Grifols International S.A., Fresenius Kabi AG, Baxter International Inc., B. Braun Melsungen AG, Anhui Medipharm Co. Ltd., Amanta Healthcare and Aculife Healthcare.
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