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Global Parenteral Nutrition Market To Stand At US$6.9 Bn By 2023

|Includes: Meridian Resource Corp. (TMR)

Parenteral nutrition (NYSE:PN) is indicated for the patients unable to take sufficient required nutrition via gastrointestinal track for prolonged period. Additionally, PN is necessary when patient cannot be sustained with oral or enteral intake of nutrition supplements. The market for parenteral nutrition is witnessing positive growth majorly due to rising incidence of chronic diseases such as cancer, diabetes and others globally. Additionally, significant increase in cases of preterm babies coupled with malnourished population in developing regions also act as a potential driver for the growth of the market. For example, according to the World Health Organization (WHO), under-nourishment accounts for more than 11% of the global burden of disease and is considered to be the number one risk to health and wellbeing worldwide. The organization also stated that malnutrition contributes around one third of all child deaths globally every year. Other driving factors such as rising approval of novel parenteral nutrition formulations and aging population further boosted the growth of the market to some extent. However, side effects such as catheter infections, refeeding syndrome, particulate contamination and liver dysfunction with parenterally administration of nutrition hampers the global market growth. The global parenteral nutrition market was valued at US$ 4.1 Bn in 2014 and is estimated to reach a market value of US$ 6.9 Bn in 2023 expanding at a CAGR of 5.7% from 2015 to 2023.

The market of global parenteral nutrition market is categorized into major product types such as carbohydrates, parenteral lipid emulsion, single dose amino acid solution, trace elements, and vitamins and minerals. Single dose amino acid solutions accounted for the largest market, capturing almost 34.1% share of total parenteral nutrition market in 2014. Growing product approvals coupled with increasing utilization of single dose amino acid solutions by end users drive the market growth in future. However, parenteral lipid emulsion segment is anticipated to grow with the highest CAGR due to potential benefits such as minimal interference with pulmonary hemodynamics and others fuel the uptake of this product, leading to market growth.

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Global parenteral nutrition market, by geography is segmented as North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. In 2014, North America dominated the global parenteral nutrition market. Rise in regulatory approval for novel parenteral nutrition coupled with consistent rise in the incidence of chronic diseases in the region stimulated the growth of North America parenteral nutrition market. Europe accounted for the second largest share of the total market in 2014 owing to the favorable growth conditions for pharmaceutical and biotechnology manufacturers due to affordability for branded formulations by consumers. However, Asia Pacific region is estimated to grow with the highest CAGR of 7.3%. Market growth in this region is witnessed due to increasing interest of leading companies such as Baxter, Fresenius and others to establish their presence in Asia Pacific countries such as China and Japan.

Some of the prominent players in the global parenteral nutrition market are Fresenius SE & Co. KGaA, Baxter International, Inc., Grifols S.A., Claris Lifesciences Limited, Sichuan Kelun Pharmaceutical Co., Ltd., Allergan plc (Actavis plc), B. Braun Melsungen AG, Pfizer, Inc. (Hospira, Inc.) and others.

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