Global Parental Nutrition Market: Overview
Malnutrition poses a great risk to human life. The World Health Organization (WHO) states that malnutrition forms the reason for 11 percent of the diseases prevailing across the world. Moreover, the rising occurrence of malnutrition can lead to the emergence of problems such as food insecurity and political unrest. Therefore, the increasing incidence coupled with the rising concerns is promoting the uptake of parental nutritional.
This report serves with a 360-degree view of the global parental nutrition market by providing insights into all important aspects, including trends and opportunities, nutrient type and regional segmentation, and vendor landscape.
Global Parental Nutrition Market: Drivers and Restraints
The growing incidence of chronic diseases such as ischemic bowel disease, gastrointestinal disorders, diabetes, Crohn’s disease, and cancer is one of the primary growth stimulants of the global market. In addition, the burgeoning count of malnourished children, especially in developing and less developed countries, is escalating the development of the parental nutrition market. Furthermore, the widening base of geriatrics across the globe is also stoking the growth of the market, since aged people are more likely to suffer from the deficiency of several essential nutrients.
On the flip side, the upward rise of the market is marred by the rising health risks incurred due to improper monitoring. Various cases of unexplained gaining of weight, allergic reactions, muscle pain, and shortness of breath have been reported after the uptake of parental nutrition. Furthermore, a study by The American Society for Nutrition states that consistent utilization of parenteral nutrition therapy may lead to metabolic complications and liver diseases.
Global Parental Nutrition Market: Geographical Segmentation
From the geographical standpoint, the report classifies the global parenteral nutrition market into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America will continue to be the frontrunner in the global arena until 2023. The growth of the region can be attributed to the favorable reimbursement scenario. The U.S. and Canada will be key revenue contributors to the region. The expanding pool of patients suffering from cancer and diabetes and growing geriatric population are triggering the adoption of parental nutrition in these countries. Furthermore, the increasing efforts by regional players to expand their operations within Canada is working in favor of the North America parenteral nutrition market.
On the other hand, Asia Pacific is anticipated to be the most promising region, progressing at a noteworthy 7.0% CAGR during the review period. The flourishing growth of the pharmaceutical industry, particularly in countries such as Taiwan, Thailand, Indonesia, Singapore, China, and India, is augmenting the growth of the region. Besides this, the mounting cases of preterm birth, resulting in increased cases of malnutrition is also contributing to the growth of the region.
Global Parental Nutrition Market: Competitive Landscape
The majority of players in the global parental nutrition market are aiming at enhancing their line of products and expanding manufacturing facilities to ensure utmost safety and quality of their offerings. Market participants are also focusing towards entering into strategic joint ventures in order to consolidate their position in the market. Some of the key companies operating in the global parental nutrition market are Baxter International Inc., Fresenius SE & Co. KGaA, Sichuan Kelun Pharmaceutical Co. Ltd., Allergan plc. (Actavis plc.), Grifols S.A., and Pfizer Inc.
Key Segments of the Global Parenteral Nutrition Market
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