Patients who are unable to consume food directly are given parenteral nutrition through intravenous administration. Owing to rise in several chronic ailments, such as tumor, HIV, Crohn’s disease, etc., the global parenteral nutrition market is expected to witness growth in coming years. These factors are accompanied by the increase in number of pre-mature births, commercialization, and product development. These are the basic aspects contributing majorly in the growth of global parenteral nutrition market in the forecast period from 2018 to 2026. Apart this, the market is also stimulated by rising number of malnourished children and increasing approvals of new parenteral nutrition combination in the world.
According to a recent report by Transparency Market Research (TMR), the global parenteral nutrition market is expected to flourish at a steady CAGR of 4.7% within the forecast period. In 2017, the market was valued around worth of US$5,299.5 mn, which is anticipated to reach around the value of US$ 8,065.5 mn by 2025 end.
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The parenteral nutrition helps fulfil the unmet nutritional requirements in malnourished patients. Owing to bad eating habits in developed nations and high poverty rate in developing nations are some of the factors responsible for the growth in the global parenteral nutrition market.
Firms are Investing on R&D for Better Drugs to treat Different Clinical Conditions
In addition, the key players are investing majorly in the research and development activities for the pipeline drugs to fulfil the patients’ need in various clinical conditions. Some of the firms have already received the regulatory approval for the effective and novel parenteral drugs in past few years.
Based on region, North America led the global parenteral nutrition market in the past, owing to high number of approvals from FDA, and effective insurance policies to cover the expenses on parenteral nutrition. The region is estimated to dominate the global market in the forecast period as well, owing to increasing number of people suffering from chronic ailments.
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