Parenteral Nutrition Market To Witness A Significant Growth Of USD 10.7 Billion By 2030

 

San Francisco, 27 Apr 2022: The Report Parenteral Nutrition Market Size, Share & Trends Analysis Report By Nutrient Type (Trace Elements, Single-dose Amino Acid Solution, Parenteral Lipid Emulsion), By Region (North America, APAC), And Segment Forecasts, 2022 - 2030

The global parenteral nutrition market size is expected to reach USD 10.7 billion by 2030 and is expected to expand at a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing incidences of chronic diseases, such as cancer, diabetes, and other neurological conditions; surge in essential nutrition deficiency among critically ill patients; and growing awareness pertaining to hospital-related malnutrition are few key factors increasing the adoption of parenteral nutrition. Parenteral drug administration provides the benefit of fast action and lower dose delivery, which prevent various adverse effects because of dietary imbalances, thereby promoting market growth. However, the high risk of infection during administration and growing preference for enteral nutrition among patients are major factors restricting the market growth.

With the increasing population, healthcare costs and food expenditure for a household and the nation are growing. Hence, a higher birth rate is expected to impact nutrition level, thereby acting as a driver for the market. Realized natality plays a more prominent role than absolute natality (crude birth rate), as it includes environmental as well as resource pressures, such as water, food, and medication requirements per birth. Realized natality has been growing in the last decade and is anticipated to maintain growth over the forecast period. In 2020, the natality rate reported by the National Center for Health Statistics (NCHS) is 11.99 births per 1,000 population. Furthermore, the percentage of lower-weight infants was 8.0%, thereby boosting the demand for PN products worldwide.

Access Research Report of Parenteral Nutrition Market @ https://www.grandviewresearch.com/industry-analysis/parenteral-nutrition-market

Parenteral Nutrition Market Report Highlights

• Key players operating in the market are mainly focused on enhancing patient safety. Companies are also focusing on advancing their PN products to complement the parenteral nutrition compounding by incorporating technologies, such as barcode‐assisted medication
• The ability to provide improved lipid and protein formulations to patients is one of the key parameters that companies leverage to differentiate their products from competitors.
• Also, high infection rate, poor water quality and sanitation facilities, and lack of awareness are prevalent factors increasing the incidence of malnourishment in developing nations, which creates a significant demand for PN sources, thereby aiding market growth
• The single-dose amino acid solution nutrient type segment dominated the market in 2021 due to the introduction of newly available amino acid solutions with minimal side effects
• North America dominated the global market in 2021 owing to the rising incidence of chronic conditions & malnutrition, coupled with increasing U.S. FDA approvals in the region

List of Key Players of Parenteral Nutrition Market

• Baxter
• Grifols, S.A.
• Allergan
• Otsuka Pharmaceutical Factory, Inc.
• Actavis Inc.
• Braun Melsungen AG
• Fresenius Kabi AG
• Vifor Pharma
• Sichuan Kelun Pharmaceutical Co., Ltd.
• Pfizer Inc. (Hospira Inc.)

Access Press Release of Parenteral Nutrition Market @ https://www.grandviewresearch.com/press-release/global-parenteral-nutrition-market