SEATTLE, Dec. 10, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global parenteral nutrition market is estimated to be valued at US$ 4,133.6 million in 2021 and is expected to exhibit a CAGR of 5.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Parenteral Nutrition Market:
Key trends in the market include increasing number of chronic disease cases, increasing investments by market players, and increasing product launches or approvals.
The increasing prevalence of chronic diseases such as diabetes, chronic kidney disease, and malnutrition is expected to drive the global parenteral nutrition market growth over the forecast period. For instance, according to the International Diabetes Federation (IDF), in 2019, 463 million adults across the globe in the age group of 20 to 79 years had diabetes and this is expected to reach 700 million by 2045, resulting in 51.2% increase between 2019 and 2045. Moreover, as per the International Diabetes Federation (IDF), around 374 million people worldwide were at a higher risk of developing type II diabetes in 2019.
Key players are involved in investments to construct manufacturing sites, which is expected to bolster growth of the global parenteral nutrition market. For instance, in 2020, Baxter International Inc., a pharmaceutical company which manufactures sterile medications, inaugurated a new manufacturing facility for the production of sterile fill/finish medications. The manufacturing facility is located in Bloomington, U.S.
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Increase in the product launches by market players is expected to drive the growth of the global parenteral nutrition market. For instance, in August 2019, Baxter International Inc., a U.S. based multinational healthcare company, launched Olimel N12 in Europe. Olimel N12 is the new addition to the company’s olive oil-based parenteral nutrition (PN) triple-chamber bag portfolio. The product was launched at the 41st Congress of the European Society of Clinical Nutrition and Metabolism (ESPEN), 2019.
Key Market Takeaways:
The increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, agreements, acquisitions, and mergers are expected to drive growth of the global parenteral nutrition market over the forecast period. For instance, in September 2018, Baxter Canada, a subsidiary of Baxter International Inc., received Health Canada approval for their product OLIMEL 7.6% and OLIMEL 7.6% E (amino acids, dextrose, lipids with/without electrolytes, injectable emulsion) for parenteral nutrition for adults when oral or enteral nutrition is impossible, insufficient, or contraindicated.
Competitive Landscape:
Key players operating in the global parenteral nutrition market include B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International Inc., Otsuka Pharmaceutical India Pvt. Ltd., Pfizer, Inc., Grifols, S.A., JW Pharmaceutical, Aculife Healthcare, Kelun, American Regent Inc., and Eurolife Healthcare Pvt. Ltd.
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Market Segmentation:
- Global Parenteral Nutrition Market, By Nutrition Type:
- Carbohydrates
- Lipid Emulsion
- Amino Acid Solutions
- Electrolytes
- Vitamins and Trace Minerals
- Others
- Global Parenteral Nutrition Market, By Patient Type:
- Infants
- Adults
- Geriatric
- Global Parenteral Nutrition Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Parenteral Nutrition Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
Related Market Intelligence Reports:
U.S. Clinical Nutrition Market, by Nutrition Type (Enteral Nutrition (Standard Nutrition and Disease Specific Nutrition) and Parenteral Nutrition (Amino Acids, Carbohydrates, Vitamins and Minerals, and Others)), by Form (Powder, Liquid, and Others), by Age Group (Infant Nutrition, Adult Nutrition, and Geriatric Nutrition), by Application (Diabetes, Cancer, Critical Care, Neurological Disorder, Metabolic Syndrome, Gastrointestinal Diseases, and Other Applications), and by End User (Hospitals, Ambulatory Surgical Centers, and Long Term Care Facilities) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Canada Clinical Nutrition Market, by Nutrition Type (Enteral Nutrition (Standard Nutrition, and Disease Specific Nutrition), Parenteral Nutrition (Amino Acid, Carbohydrates, Vitamins and Minerals, and Others)), by Form (Powder, Liquid, and Others), by Age Group (Infant Nutrition, Adult Nutrition, and Geriatric Nutrition), by Application (Diabetes, Cancer, Critical Care, Neurological Disorder, Metabolic Syndrome, Gastrointestinal Diseases, and Other Applications), and by End User (Hospitals, Ambulatory Surgical Centres, and Long Term Care Facilities) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
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