Parenteral Nutrition Market Is Expected To Reach Almost USD 8 Billion Growing At A Rate Of 6%
The Business Research Company's parenteral nutrition market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, Aug. 25, 2022 /PRNewswire/ -- The increasing prevalence of malnutrition across the globe is driving the growth of the parenteral nutrition market. Malnutrition refers to deficiencies, excesses, or imbalances in a person's intake of energy or nutrients. Premature births, which result in immune dysfunction and inadequate nutrition, have increased the demand for and use of parenteral nutrition among children and infants.
For instance, in 2019, the United Nations Food and Agriculture Organization (FAO) reported that nearly 690 million people, or 8.9% of the global population, were undernourished. FAO also estimated an increase in the number of undernourished people due to the COVID-19 pandemic by another 83 to 132 million in 2020. Hence, the growing prevalence of malnutrition across the globe is expected to boost demand for parenteral nutrition during the forecast period.
The global parenteral nutrition market size is expected to grow from $5.85 billion in 2021 to $6.26 billion in 2022 at a compound annual growth rate (CAGR) of 7.02%. The global parenteral nutrition market growth is expected to reach $7.99 billion in 2026 at a compound annual growth rate (CAGR) of 6.28%.
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Parenteral Nutrition Market Trends
As per the parenteral nutrition industry report, strategic partnership is a key trend gaining popularity in the market. Key healthcare players, associations, and researchers are focusing on entering into strategic partnerships to research, develop, launch, or create awareness of the use of parenteral nutrition containing new ingredients such as omega-3 fatty acids. These partnerships help to educate health care professionals and companies to develop and market their products, thus strengthening their market position.
For instance, in November 2020, the American Society for Parenteral and Enteral Nutrition (ASPEN), a US-based professional organization, partnered with Fresenius Kabi, a Germany-based global healthcare company, to create a key expert interview series on omega-3 fatty acid-containing parenteral nutrition to support continuous health care professional (HCP) education on omega-3 fatty acids in clinical nutrition.
Parenteral Nutrition Market Segmentation – (Read more here - increased the demand for and use of parenteral nutrition)
The global parenteral nutrition market analysis is segmented -
1) By Composition: Amino Acids, Fats, Carbohydrates, Trace Elements, Vitamins, Minerals, Others
2) By Consumer Type: Children and New-born, Adults
3) By End-User: Hospitals, Clinics, Homecare, Others
See more on the Parenteral Nutrition Market Report
Overview Of The Parenteral Nutrition Market
The parenteral nutrition market consists of sales of parenteral nutrition by entities (organizations, sole traders, and partnerships) that refer to intravenous nutritional products used to tailor medical treatment to each person or a group of people who need medical nutrition to manage disease-related malnutrition conditions. Parenteral nutrition refers to the intravenous administration of nutrition including protein, carbohydrates, fat, vitamins, minerals, electrolytes, and other trace elements for patients who are not capable of consuming food orally and maintaining a good nutritional balance. Achieving balanced nutritional intake on time can help combat complications and play a prominent role in a patient's recovery.
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