- Prevalence of medical conditions such as short bowel syndrome, gastro-intestinal diseases, cancer, Crohn's disease, and diabetes has triggered need for parenteral nourishment
- Rise in approvals of innovative parenteral elements and increase in R&D activities by key players to boost market growth
ALBANY, N.Y., July 21, 2021 /PRNewswire/ -- Parenteral nutrition refers to the process wherein a person is given the required nutrition intravenously. People who have an improperly functioning gastrointestinal (GI) tract, are malnourished, or suffer from the risk of malnutrition are mainly given this treatment. Parenteral nutrition includes lipids, vitamins, carbohydrates, and minerals such as calcium. Patients who are unable to consume enough nourishment externally or orally, or who have a compromised GI tract, are advised to take parenteral nutrition. In severe health conditions such as cancer, AIDS, burns, and gastrointestinal disorders, the use of parenteral nourishment may become necessary. The global parenteral nutrition market is likely to be driven by the increase in the prevalence and incidence of chronic illnesses throughout the world.
The global parenteral nutrition market is expected to expand at a steady CAGR of 4.6% CAGR during the assessment period of 2019 to 2027. Furthermore, rise in the approval of innovative parenteral components and R&D activities for product innovation is significant in accelerating the global parenteral nutrition market.
Improper Dietary Habits, Malnutrition to Drive Need for Parenteral Nutrition
The global parenteral nutrition market is being driven by the phenomenal rise in the prevalence of chronic illnesses. According to the World Health Organization (WHO), in 2018, there were around 2,378,785 new cases of cancer in North America. According to the Globocan 2018, the 5-year cancer prevalence was determined to be about 12,132,287 in Europe, next only to the Asia Pacific region.
Furthermore, the parenteral nutrition industry is estimated to flourish due to rise in the number of people suffering from malnutrition. Parenteral nutrition is regarded as an essential treatment option to offer appropriate nutrition support to impoverished patients, due to high poverty rates in underdeveloped regions and poor eating habits. Other key reasons contributing to the expansion of the global parenteral nutrition market include development of innovative parenteral nutrition medicines and increased R&D activities undertaken by companies to launch improved products.
US FDA Approval of Parenteral Nutritional Products to Render North America as Attractive Region
The greater frequency of chronic illnesses such as cancer and diabetes in North America is expected to propel the parenteral nutrition market in the region. In addition, more parenteral nutrition products have recently been approved by the US Food and Drug Administration (FDA), and large corporations have increased their funding in research and development activities for improved products.
During the projection period of 2019 to 2027, however, the Asia Pacific region is likely to emerge as the most lucrative market for parenteral nutritional products. This can be attributed to a number of variables, including improved healthcare infrastructure and services in the region, increased awareness about parenteral nutrition, and growth in elderly population more susceptible to chronic illnesses.
Use of Parenteral Nutrition Under Medical Supervision to Prevent Several Adverse Outcomes
The use of parenteral nutrition under medical supervision will prevent the likelihood of adverse outcomes such as liver dysfunction, catheter infections, particle contamination, and refeeding syndrome in patients receiving the treatment. Furthermore, increasing efforts to educate staff on all aspects of intravenous feeding, including parenteral nutrition, is likely to be favorable for the market in the near future. Since the medicine or the drug is directly injected into the blood through this method, the effect of drug starts immediately, thereby eliminating the need and time to digest it.
Parenteral Nutrition Market: Growth Drivers
In order to sustain proper skeletal, organ, and cell functioning as well as healing of wound, amino acid compositions that supply both essential as well as non-essential amino acids are critical in full parenteral nutrition prescriptions. The demand for single-dose amino acid solutions is expanding due to their widespread availability and introduction of novel amino acid-based parenteral formulations by prominent firms. Use of single dose amino acids in dietary management, in certain amounts, is carried out to manage hereditary metabolic disorders.
Increasing awareness about parenteral nutrition among common people and medical staff is anticipated to drive its adoption for undernourished patients
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