Key players in the parenteral nutrition market include Grifols International SA, Aculife Healthcare, Baxter International, Inc. B. Braun Melsungen AG, Fresenius Kabi and ICU Medical.
Selbyville, Delaware, Aug. 16, 2021 (GLOBE NEWSWIRE) –
According to the latest study by Global Market Insights Inc., the parenteral nutrition market is expected to reach $ 8.4 billion by 2027. The rising number of metabolic diseases, coupled with the prevalence of premature babies, is driving market growth – both in terms of value and volume. Since premature babies have a high need for nutritional supplements, investments in parenteral nutrition are likely to increase.
The prevalence of malnutrition in children is also increasing the demand for parenteral nutrition. According to the WHO, around 149 million children under the age of 5 are said to be stunted worldwide (too small for their age); 38.9 million were obese or overweight; It is estimated that 45 million were wasted in 2020 (too thin for the altitude).
In the past few years, several trends have emerged that can have a profound impact on the prospects for the global parenteral nutrition market. Below are some of the trending factors that healthcare providers and other market makers may think about:
Fat component to stay in the mix
The parenteral fat component has become a crucial factor in improving therapeutic skills in critically ill patients. The increasing pulling power of fats is attributed in part to the increasing demand for lipid emulsions to reduce inflammation, improve metabolic and clinical outcomes. Notably, lipid formulations have become trending to keep FS deficiency, lipid peroxidation, hyperglycemia, and phytosterol toxicity in check. The parenteral fats segment in the parenteral nutrition market could grow with a healthy CAGR of 8.1% through 2027.
Products for children and newborns are used extensively
Especially in underdeveloped and developing countries, children and newborns are prescribed parenteral nutrition after the escalation of premature births. According to the report published by the WHO, an estimated 30 million newborns will die within the first 28 days of life between 2017 and 2030. In addition, there were 1,172,300 and 3,519,100 premature births in China and India in 2019, respectively. The Pediatric & Newborn segment of the Parenteral Nutrition market was valued at over USD 2,283 million in 2020 and is set to see commendable growth thereafter.
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Demand to be pronounced in all home care facilities
The increasing prevalence of chronic diseases that require long-term care has encouraged the proliferation of home care facilities. National Centers for Biotechnology Information (NCBI) recommends home parenteral nutrition (HPN) for adults with cancer and other diseases. The number of cancer patients has risen sharply, especially in emerging countries such as India and Nigeria. According to the American Society of Clinical Oncology Journal, the number of cancer patients in India in 2020 was approximately 1,392,179. In particular, HPN prevents progressive weight loss and improves nutritional outcomes. Driven by the above factors, the parenteral nutrition for home care market segment is projected to reach $ 1,148 million by 2027.
Brazil is ready to lead the regional market
Latin America is proving to be a viable center for the provision of basic newborn care and quality services amid an unprecedented surge in child malnutrition and chronic disease cases. According to the 2020 Global Nutrition Report, 8.4% of infants in Brazil have a low birth weight. In addition, 7% of children under the age of 5 suffer from malnutrition. According to WHO statistics from 2019, around 279,300 premature births have been observed in Brazil. Robust government initiatives such as the National Nutrition and Nutrition Program should support business projections for parenteral nutrition. The Brazilian parenteral nutrition market is estimated to be around $ 312 million by 2027.
The way forward
As a holistic approach, established actors, newcomers and other stakeholders could shift the focus to innovative and tailor-made approaches to promote access and quality of parenteral nutrition. To achieve the United Nations Sustainable Development Goal of ending preventable newborn deaths by 2030, policymakers will struggle to overcome the challenges of malnutrition through parenteral nutrition. Additionally, further research into essential micronutrition may be inevitable as parenteral feeding practices evolve.
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