Global Parenteral Nutrition Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Parenteral nutrition is also termed as intravenous feeding, is a procedure of getting nutrition into the body via veins. Based on the vein used, a method is also termed as peripheral parenteral nutrition (PPN) or total parenteral nutrition (TPN).
The factors that are playing a major role in the growth of parenteral nutrition market are growing natality rate, the growing complications during labor, increasing cases of malnutrition’s mainly in developing countries, and the rising preterm births. Parenteral nutrition industry is segmented based on the type of nutrient and region.
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Vitamins and minerals, carbohydrates, trace elements, parenteral lipid emulsion, single dose amino acid solution, and other nutrient types could be explored in parenteral nutrition market in the forecast period. Single dose amino acid solution sector accounted for the substantial share of parenteral nutrition market and is estimated to lead the overall market in the years to come. The reason could be the arrival of regulatory approved solutions and the rising use of amino acid solutions. Also, parental lipid emulsion sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial market share of parenteral nutrition and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the availability of funding for research by government and private organizations, alliances among universities, medical device industry, and regulatory authorities, and the availability of technologically enhanced medical devices.
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Also, the rising occurrence of chronic diseases, advanced healthcare facilities, and the availability of favorable compensation policies are the factors that may boost the overall market in this region. The United States is a major consumer of parenteral nutrition in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of parenteral nutrition in this region.
The key players of parenteral nutrition industry are Aculife Healthcare, B. Braun Melsungen AG, Vifor Pharma, Fresenius Kabi AG, Sichuan Kelun Pharmaceutical Co., Ltd., Allergan plc, Baxter International, Inc., Grifols, S.A., Otsuka Pharmaceutical Factory Inc., and Hospira. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.