Parenteral Nutrition Market to Hit $5,704 Million by 2025: Global Market Insights, Inc.
The U.S. parenteral nutrition market dominated the North American region accounting for more than USD 1.2 billion in 2018 owing to a rise in awareness about parenteral nutrition along with a growing incidence of chronic diseases.
SELBYVILLE, Del., April 4, 2019 (Newswire.com) - The child parenteral nutrition market is estimated to grow at a robust CAGR of 4.6 percent over the forecast period. The increasing burden of genetic and neonatal diseases will augment segment growth of the market. The rise in pediatric disorders will create mineral and vitamin deficiencies amongst children that will fuel the demand for parenteral nutrition products, thereby increasing market growth. Also, initiatives adopted by various organizations, such as knowledge sharing programs for individuals regarding essential nutrients necessary to infants, will augment the neonatal parenteral nutrition industry.
The global Parenteral Nutrition Market is expected to surpass USD 5,704.6 million by 2025; according to a new research study published by Global Market Insights, Inc., the rising prevalence of chronic diseases such as diabetes in the past few years and increasing trends of malnutrition across the globe primarily drive the demand for various parenteral nutrition products worldwide. Additionally, growing birth rates and increasing incidence of premature births should augment market demand during projection years.
Various government regulatory bodies, such as the European Society for Clinical Nutrition and Metabolism and the FDA, impose strict government norms in the approval of parenteral nutrition products. Inadequate infrastructure in developing and under-developed regions acts as a growth hindering factor. Also, a lack of awareness among the population of emerging markets happens to hamper adoption rates. Hence, the aforementioned reasons tend to stand as barriers to global market growth.
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Amino acid parenteral nutrition market was around USD 1,752.4 million in the year 2018. Steadily growing acceptance of amino acid-based parenteral nutrition products will augment industry growth in the coming 5-7 years. However, due to increasing cases of renal insufficiency, hepatic insufficiency and protein-catabolic critical illness will globally boost the demand for amino acid-based parenteral nutrition products. Additionally, deficiency of energy and dietary proteins are customary in critically-ill hospitalized patients that ultimately leads to protein-energy malnutrition. Hence, Amino acid-based parenteral products are provided to patients in such cases, hence rising its application during the forecast period.
Browse key industry insights spread across 165 pages with 186 market data tables & 11 figures & charts from the report, “Parenteral Nutrition Market By Composition (Amino Acids, Fats, Carbohydrates, Trace Elements, Vitamins, Minerals), By Consumer (Children and Newborns, Adults), By End-use (Hospitals, Clinics, Homecare) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
The use of parenteral nutrition in hospitals valued around USD 3,155.4 million in the year 2018. Availability of advanced therapeutic solutions in the hospital settings will boost the demand for parenteral nutrition products. Patients suffering from critical medical conditions are mostly treated in hospitals where they are administered parenteral care, thus, the presence of state of the art facilities in the multi-specialty hospitals and the growing popularity of hospitals in developed countries will augment market size over the projection years.
The U.S. market is estimated to grow at a CAGR of 3.3 percent over the forecast period. The U.S. represents a major regional market share followed by Canada. The region will witness a lucrative growth due to growing healthcare expenses coupled with an increase in awareness amongst the population about parenteral nutrition products and the rising prevalence of cardiac diseases. Improving healthcare infrastructure, developing and expanding hospital sector, and presence of major industry players such as B. Braun with rapidly expanding business led by international pediatric nutritionals will increase regional market share. Thus, the above-mentioned reasons will fuel parenteral nutrition market growth.
Some of the key industry players operating in the global parenteral nutrition market are Aculife Healthcare, Amanta Healthcare, B. Braun Melsungen AG, Baxter International, Inc., Fresenius Kabi AG, Grifols International S.A., Guangzhou Baiyunshan Mingxing Pharmaceutical Co. Ltd., Guangzhou Green Cross Pharmaceutical Co., Ltd., ICU Medical, etc. The industry participants focus on acquisitions and mergers, new product developments and geographical expansion to increase their foothold in the market and gain competitive advantage.
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Global Clinical Nutrition Market By Products [Infant Nutrition (Milk, Soy, Organic), Parenteral Nutrition (Amino Acids, Fats, Carbohydrates), Enteral Nutrition (Standard Composition, Disease-Specific Composition)], By Consumer (Child, Adult), Regional Outlook (U.S., Canada, U.K., Germany, France, Spain, Italy, Russia, Japan, China, India, Australia, Malaysia, Mexico, Brazil, South Africa, UAE, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025
Infant Nutrition Market Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, U.K., France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Growth Potential, Competitive Market Growth & Forecast, 2017 – 2024
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Source: Global Market Insights, Inc.