Parenteral Nutrition Market: Introduction
Parenteral nutrition is the method by which patients are fed nutritional products intravenously. Those nutrients include vitamins, fat, carbohydrates, minerals and other trace elements. These nutrients are provided to the patients through veins, who cannot eat sufficient food to maintain good nutritional needs of the body and growth of the person. Generally, these nutrients are delivered centrally or peripherally via superior vena cava. It is used for people suffering from short bowel syndrome, cancer, and other ailments.
The Global Parenteral Nutrition Market Forecast:
Global Parenteral Nutrition Market size was at USD 6.4 Billion in 2021, and it is predicted that it will reach a valuation of USD 10.81 Billion by the end of 2030 with an annual development rate (CAGR) of 6.0% between 2022 and 2030.
The Global Parenteral Nutrition Market Overview:
Several factors have been positively impacting the parenteral market growth. This high growth can be credited to the rising prevalence of chronic conditions, particularly malnutrition and cancer, natality incidence and the rising geriatric population.
Growing natality is projected to be another major market driver. There are several benefits that have been associated with parenteral nutrition, such as being easy to use, providing efficient nutrients, stimulating stomach blood flow and preserving muscle catabolism. The product’s demand has been accelerated due to increasing cognizance about its benefits. For instance, education campaigns about health awareness, specifically emphasising on nutrition and several other initiatives which promotes health and social care.
Parenteral Nutrition can be given to infants and children, who are suffering from a disease or medical condition, when require special nutritional management. As per the Specialized Nutrition Europe (SNE) estimation, about 300,000 EU children are projected to require medical nutrition for their early life stages for supporting their growth and development.
Furthermore, the study also reveals that about 40% of the total hospitalised adult patients are malnourished, and they are in need of medical nutrition to manage the disease-related malnutrition condition so that their hospital stays can be reduced. Parenteral nutrition also helps in lowering the infection risk and underdevelopment, and therefore, worldwide, it is being promoted for adoption.
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Global Parenteral Nutrition Market: Market Dynamics
Drivers:
PN is the abbreviation for parenteral nutrition. It is the vital nutrition that is used as an intravenous administration. PN has several nutrients such as protein, carbohydrates, fat, minerals, electrolyte, vitamins and crucial trace elements. The key factors that are driving the market growth are the growing geriatric population and the necessity of administering vital nutrients to maintain energy, hydration level and strength.
The rising prevalence of chronic diseases such as several types of cancers resulting in no appetite and low energy levels has bolstered the demand for parenteral nutrition, thus driving the expansion of the global parenteral nutrition market.
The surge in the number of premature births and lack of essential nutrients among premature infants and new-borns are the factors anticipated to boost the adoption of intravenous administration of nutrition, specifically in underdeveloped and developing countries of Africa and the Asia Pacific.
The market expansion is being supported by the rising initiatives taken by the government and non-government organisations, such as the American Society for Parenteral and Enteral Nutrition, the American Association, the National Association of Nutrition Professionals, and many others are spreading awareness about the diet. These factors are anticipated to support market progression.
The patients can be recovered fast if they are provided adequate and timely parenteral nutrition that can help in fighting complications. It is mainly administered to critically ill patients who are unable to take food as well as the ones having short bowel syndrome, intestine obstructions, gastrointestinal fistulas, or severe acute pancreatitis.
As per the survey done in 2014, more than 290,000 patients have received parenteral nutrition during their hospital stays, out of which 43% were new-borns and children. Additionally, many patients have received parenteral nutrition in the comfort of their homes since it’s easy to use. Approximately more than 25,000 have received parenteral nutrition at home. These factors can be credited for the global parenteral nutrition market development.
Restraints:
There has been a lack of awareness and possible side effects associated with parenteral nutrition, such as rapid weight loss or gain, changes in heart rate, fever or chills, seizures, memory loss and increased urination. These factors might hinder the market progression of the global parenteral nutrition market.
The Key Market Segmentation of the Global Parenteral Nutrition Market:
Global Parenteral Nutrition Market can be divided into Nutrient Type, Consumers, End-User and Geographical landscapes, etc.
By Nutrient Type:
- Carbohydrates
- Lipid Emulsion
- Parenteral Lipid Emulsion
- Single Dose Amino Acid Solution
- Trace Elements
- Vitamins & Minerals
By Consumers:
- Children and New-born
- Adults
By End-Use:
- Hospital
- Clinic
- Homecare
- Others
By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players in the Global Parenteral Nutrition Market Are:
- Allergan plc.
- Pfizer Inc.
- Braun Melsungen AG
- Fresenius Kabi AG
- Grifols, S.A.
- Baxter International, Inc.
- Vifor Pharma Management Ltd.
- Sichuan Kelun Pharmaceutical Co., Ltd.,
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