The Global Parenteral Nutrition Market is Projected to Reach US$8.7 Billion by 2024

Critical Role of Nutrition for Better Clinical Outcomes & Improved Quality of Care Drives Growth of Parenteral Nutrition, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Parenteral Nutrition market. The global Parenteral Nutrition market is projected to reach US$8.7 billion by 2024, driven by the growing need to address the nutritional needs of patients suffering from chronic diseases and age-related medical conditions.

Parenteral nutrition or intravenous feeding is the technique of administering nutritional supplements to the body through vein. PN therapy is generally administered to patients with a non-functional gastrointestinal tract or those unable to consume nutrition through the oral route. Parenteral nutrition mainly includes amino acids, carbohydrates, glucose, lipids, trace elements and dietary vitamins and minerals among other essential nutrients. The global market for parenteral nutrition is being driven by the rising prevalence of chronic diseases such as cancer diabetes, Crohn’s disease, ulcerative Colitis, extreme diabetic cases and AIDS, which render a number of individuals incapable of obtaining their daily nutrition requirements through the oral route.

Increasing prevalence of cancer necessitates use of PN therapy specifically during chemotherapy and radiation sessions, as the treatment generally results in significant loss of appetite, energy and nutrition. People recuperating from surgeries and traumas experience severe deficiencies and weight loss, often necessitating the use of parenteral nutrition therapy to provide the essential nutrients. The growing elderly population across the world and their greater susceptibility to nutritional deficiency is leading to increased use of PN therapy for providing the necessary nutrition in this population. Growing number of preterm births is another factor driving market growth. Increasing awareness about parenteral nutrition is also enabling increase in its adoption.

Future growth in the market will come from development of novel products for home use along with the advent of new and improved products. While the market has seen several notable innovations, parenteral nutrition market is said to have fallen short in terms of developing newer ingredient combinations, as all major developments over the past several years have been focused only on newer delivery formats. There is immense potential for new products developments in the areas of improved accessories and hardware for administration of parenteral nutrition, non-intravenous formats, products for specific diseases, pediatric products and products for at-home usage, among others.

As stated by the new market research report on Parenteral Nutrition, the United States represents the largest market worldwide. Rising awareness among people about the advantages of parenteral nutrition therapy for patients suffering from severe malnutrition and the high approval rate for new PN solutions from the U.S. FDA, and favorable reimbursement policy pertaining to PN therapies are spurring growth in the country. Growth will also be fueled by the continuous rise in the number of people suffering from cancer and diabetes owing to changing lifestyles. Asia-Pacific is forecast to register the fastest CAGR of 7.9% over the analysis period. Increase in preterm births and the resultant malnutrition among newborns is also enhancing the need for parenteral nutrition in the region.

Major players in the market include Allergan plc, Amanta Healthcare Ltd, B. Braun Melsungen AG, Baxter International Inc., Fresenius KABI AG, Grifols International S.A., ICU Medical Inc., Otsuka Pharmaceutical Factory Inc., Sichuan Kelun Pharmaceutical Co. Ltd., and Sino-Swed Pharmaceutical Corp. Ltd., among others.

The research report titled “Parenteral Nutrition: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America).

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