NEW YORK, Sept. 21, 2021 /PRNewswire/ -- Reports and Data has published its latest report titled "Parenteral Nutrition Market Size, Share & Analysis, By Nutrient Type (Carbohydrates, Lipid Emulsion, Single Dose Amino Acid Solution, Trace Elements, Vitamins and Minerals) By Consumer Type (Children and New-Born, Adults) By End-Use (Clinic, Hospital, And Others), And by Region, Global Forecast to 2028."
According to latest analysis by Reports and Data, the global parenteral nutrition market size was USD 6,018.4 Million in 2020 and is expected to reach USD 9,158.7 Million in 2028 and register a revenue CAGR of 5.3% over the forecast period, 2021-2028.
Increasing concerns related to malnutrition in children, rising prevalence of premature births, and increasing initiatives to raise nutritional awareness are some key factors driving market growth
Parenteral nutrition refers to the intravenous administration of vital nutrients that are essential for proper maintenance of life and includes supplement feeding of protein, carbohydrates, minerals, electrolytes, and other trace elements for children and individuals who cannot supplement sufficient food intake through mouth or tube feeding. Increasing incidence of gastrointestinal disorders, growing prevalence of malnutrition in cancer patients, and rising need for parenteral nutrition among the geriatric population with deficiency of vitamins and crucial elements has been boosting adoption of parenteral nutrition and this is expected to further drive market revenue growth over the forecast period.
Parenteral nutrition is the most feasible option for providing nutrition to patients with non-functioning gastrointestinal tract or having disorders that necessitate complete bowel rest. Total parenteral nutrition is a treatment regimen used in the management and treatment of malnourishment and the composition is adjusted according to the needs of patients. Parenteral nutrition has emerged as a critically important therapeutic approach for individuals who are unable to utilize their GI tract for a prolonged duration. Choosing appropriate therapy and paying attention to simple precautions such as sterile techniques and increasing focus on components of parenteral formulation can benefit patients to a significant extent.
Proper parenteral nutrition management can be done by undertaking a multidisciplinary approach by combining expertise of healthcare professionals such as pharmacists, physicians, dieticians, nurses, and case managers. This approach leads to reduction in costs of therapies, improves patient outcomes, and helps achieve optimal nutrition, and this has led to increasing adoption of parenteral nutrition as a temporary, supportive mode of nutrition. This is another key factor expected to drive revenue growth of the market over the forecast period.
Administration of parenteral nutrition is typically done through a central or peripheral venous route but can also be provided through peritoneal or hemodialysis catheters. Administration of parenteral nutrition during dialysis has been extremely beneficial in patients with end-stage renal disease who do not respond to oral nutritional intervention. Over the recent past, parenteral nutrition has been considerably improved by implementation of various strategies such as utilization of medium-chain triglycerides, glutamine, or branch chain amino acids and this has further contributed to increasing preference for parenteral nutrition in patients with severe disease conditions, in turn, contributing to revenue growth of the market. However, adverse effects associated with the procedure such as fat overload syndrome, metabolic acidosis, and hyperglycemia among other have limited its use and restrained market growth to a significant extent. Over the last few years, however, increasing efforts have been undertaken to overcome adverse effects such as central venous catheter infection and hepatic dysfunction by properly identifying nutrients, hormones, and other active compounds to improve patient outcomes and is expected to contribute significantly to revenue growth of the market going ahead.
COVID-19 Impact Analysis
Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Single Dose Amino Acid Solutions To Account for Largest Revenue Share:
Single dose amino acid solutions segment is expected to account for largest revenue share over the forecast period attributed to amino acids being a crucial component of parenteral nutrition formulations. Amino acids are a vital source of calories and act as precursors for biosynthesis of proteins that are required for normal body functions. Standard formulations include solutions containing amino acids only and this is a key factor driving revenue growth of the segment.
Parenteral Nutrition More Preferred for Children and Newborns:
Children and newborn segment is expected to register robust revenue CAGR over the forecast period owing to increasing need for parenteral nutrition among children and infants attributed to rising prevalence of malnutrition, intestinal failure, and essential fatty acid deficiency among others. Increasing incidence of premature births and subsequent immune dysfunction and inadequate nutrition has further boosted demand for and application of parenteral nutrition among children and infants.
Hospital Segment to Dominate other End-use Segments:
Hospital segment accounted for largest revenue share in 2020 and is expected to register significant revenue growth over the forecast period attributed to increasing admission of patients with chronic illnesses such as cancer, end-stage renal disease, and malnutrition among others. Availability of a robust multidisciplinary team and efficient management of parenteral nutrition are some other key factors supporting revenue growth of this segment.
North America to Lead among other Regions:
North America is expected to account for largest revenue share in the global market during the forecast period 2021-2028. Revenue growth can be attributed to increasing incidence of malnutrition and vitamin deficiency in newborns, growing need for parenteral nutrition in geriatric populace suffering from gastrointestinal failure and cardiovascular diseases, availability of state-of-the-art healthcare facilities and infrastructure, increasing investment and expenditure by government to accelerate healthcare research, and launch of advanced medical products.
Asia Pacific to Register Robust Revenue Growth:
Asia Pacific is expected to register robust revenue CAGR over the forecast period attributed to increasing awareness and adoption of parenteral nutrition, favorable healthcare initiatives, growing expenditure to advance healthcare infrastructure, and economic development in APAC countries such as China and India. Increasing prevalence of chronic diseases coupled with rising awareness of nutritional therapy among individuals is another key factor expected to drive revenue growth of the APAC market.
Some points on how the report benefits stakeholders:
The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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