Parenteral Nutrition Market Analysis By Type of Nutrient:Transparency Market Research14 Jan 2016
Parenteral nutrition (also known as intravenous feeding) is a method for the administration of nutritional supplement into the body through vein. Parenteral nutrition is used for the patients who cannot receive their nutrition requirements orally or have a non-functional gastrointestinal tract. Parenteral nutrition is commonly indicated for the patient’s with short bowel syndrome, crohn’s disease, ischemic bowel disease, cancer, diabetes and others. The market for parenteral nutrition is witnessing positive growth owing to the rising incidence of chronic disorders such as gastro-intestinal disorders, cancer, short bowel syndrome, ischemic bowel disease, Crohn’s disease, and renal failure. For example, according to the World Health Organization (WHO), cancer accounted for the leading cause of morbidity and mortality globally, with around 14 million new cases in 2012. The organization stated that new cancer cases are expected to increase by 70% till 2025 to 2035.
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Thus, rising number of patients affected with chronic diseases fuels the demand for parenteral nutrition, leading to the market growth. However, side effects such as Catheter-related bloodstream infection, liver dysfunction and others with parenteral nutrition hamper the market growth to some extent. The global parenteral nutrition market was valued at US$ 4,097.4 Mn in 2014 and is expected to reach US$ 6,874.1 Mn by 2023, expanding at a CAGR of 5.7% from 2015 to 2023.
Based on type of nutrient, the global parenteral nutrition market has been segmented into carbohydrates, parenteral lipid emulsions, single dose amino acid solutions, trace elements and vitamins and minerals. The market of carbohydrates captured more than 23.0% share of the global parenteral nutrition market in 2014. Rinsing use of dextrose as parenteral nutrition for premature babies is considered as the major driving factor for the growth of this segment. Single dose amino acids accounted for the largest share of the global parenteral nutrition market owing to the rising approval of novel single dose amino acid parenteral products by regulatory authorities. Parenteral lipid emulsion is projected to growth at the highest CAGR due to rising demand for this nutrient as it offers potential benefits as drug delivery vehicle. For example, administration of lipid emulsions act as essential drug carriers that results in reduced pain, irritation, and prevention of thrombophlebitis.
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Based on geography, the market for parenteral nutrition market has been segmented as North America, Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). Developed regions such as North America and Europe collectively accounted for majority of market share, captured almost 68% share of the total parenteral nutrition market. Factors such as approval of new parenteral formulations, rise in geriatric population and increasing chronic disorders augments the market growth in these regions. Parenteral nutrition market in Middle East and Africa accounted for the lowest revenue of the total market. Lowest growth of the segment is primarily witnessed due to shortage or parenteral nutrition products coupled with limited promotional activities by key market players.
The global parenteral nutrition market is consolidated in which relatively small number of companies accounted for majority of market share. Companies such as Baxter International, Inc., Fresenius SE & Co. KGaA, B. Braun Melsungen AG, Hospira, Inc., Grifols S.A., Claris LifeSciences Limited and others are some of the key players having presence in the global parenteral nutrition market.
The global parenteral nutrition market is segmented as follows:
Global Parenteral Nutrition Market, By Type of Nutrient
Parenteral Lipid Emulsion
Single Dose Amino Acid Solutions
Vitamins and Minerals
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