Albany, NY -- (SBWIRE) -- 05/09/2018 -- Braun Melsungen AG, Fresenius SE & Co. KGaA, and Baxter International, Inc., who collectively held more than two-third of the total shares in the global parenteral nutrition market as of 2017, are focusing on improving their line of products, reports Transparency Market Research. The trend of winning approvals for their new formulations from concerned authorities is also helping them gain a significant footprint in the market, observes TMR.
Strategic joint ventures are also being considered by companies to expand their businesses and enhance their product portfolio in the near future. "Plans to expand manufacturing facilities are also underway. This move will help companies ensure utmost safety, unquestionable quality, and remarkable efficiency of the product," asserts the head analyst of this report.
Parenteral Nutrition Becomes Critical to Saving Lives - A Key Growth Enabler
The focal point of parenteral nutrition is to provide chronically ill patients adequate nutritional support. The high incidence of chronic conditions such as cancer, gastro-intestinal disorders, ischemic bowel disease, diabetic complications, and Crohn's disease amongst others is propelling the demand for parenteral nutrition. As this form of oral nutritional supplement becomes the only way of treating the immobilized patient, the demand for these nutrients is witnessing a phenomenal rise.
According to the World Health Organization about 11% of the global burden of disease is due to malnutrition and is considered to be a huge risk to human life. As this number will increase in the coming years citing issues of political unrest, food security, and changing environmental conditions, the demand for parenteral nutrition will remain persistent.
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Side Effects of Parenteral Nutrition Hamper Market Growth
The global parenteral nutrition market faces the huge risk of health complications due to poor monitoring. The American Society for Nutrition also stated that prolonged usage of parenteral nutrition therapy can lead to metabolic complications and liver diseases. Furthermore, shortness of breath, allergic reactions, muscle pain, and unexplained weight gain are also hampering the growth of this market.
However, a large patient pool in emerging economies of China, Brazil, India, and Brazil offer a tremendous scope for growth to the parenteral nutrition market. Furthermore increasing investment by leading players in the developing regions of Asia Pacific and Latin America to increase production of parenteral nutrition is also expected to create large opportunities to register a high growth.
Large Patient Pool in Asia Pacific makes it Lucrative Region
The research suggests that the opportunity of the global parenteral nutrition market will be worth US$6,874.1 million by the end of 2023, swelling up from US$5,023.2 million as of 2017. The market is expected to expand at a steady CAGR of 5.4% from 2017 and 2023. On the other hand, Asia Pacific will the key geographical segment as it will expand at a CAGR of 7.0% during the forecast period due to growing cases of chronic diseases such as cancer and AIDS. The parenteral lipid emulsion nutrient segment will grow at the highest CAGR of 5.9% during the same forecast period, leading the overall nutrient segment.
High prevalence of chronic diseases and related malnutrition speeds up consumption of parenteral nutrition in healthcare facilities
Seeking approvals for new formulations becomes an important strategy for companies to gain market presence
Large patient pool and high incidence of cancer and AIDS makes Asia Pacific an attractive market
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