Albany, NY, Jan. 18, 2016 (GLOBE NEWSWIRE) -- According to a new market research report published by Transparency Market Research Parenteral Nutrition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023” the global parenteral nutrition market was valued at US$4.1 bn in 2014 and is estimated to reach a market value of US$6.9 bn by 2023 expanding at a CAGR of 5.7% from 2015 to 2023..
Parenteral nutrition (also known as intravenous feeding) is a method for the administration of nutritional supplement into the body through vein. Parenteral nutrition is used for the patients who cannot receive their nutrition requirements orally or have a non-functional gastrointestinal tract. Parenteral nutrition is commonly indicated for the patient’s with short bowel syndrome, crohn’s disease, ischemic bowel disease, cancer, diabetes and others. The parenteral nutrition marketis witnessing positive growth owing to the rising incidence of chronic disorders such as gastro-intestinal disorders, cancer, short bowel syndrome, ischemic bowel disease, Crohn’s disease, and renal failure. For example, according to the World Health Organization (WHO), cancer accounted for the leading cause of morbidity and mortality globally, with around 14 million new cases in 2012.
Recent Trends in the Market:
The organization stated that new cancer cases are expected to increase by 70% till 2025 to 2035. Thus, rising number of patients affected with chronic diseases fuels the demand for parenteral nutrition, leading to the market growth. However, side effects such as Catheter-related bloodstream infection, liver dysfunction and others with parenteral nutrition hamper the market growth to some extent. The global parenteral nutrition market was valued at US$ 4,097.4 Mn in 2014 and is expected to reach US$ 6,874.1 Mn by 2023, expanding at a CAGR of 5.7% from 2015 to 2023.
Browse Press Release of Parenteral Nutrition Market: http://www.transparencymarketresearch.com/pressrelease/parenteral-nutrition-market.htm
Rinsing use of dextrose as parenteral nutrition for premature babies is considered as the major driving factor for the growth of this segment. Single dose amino acids accounted for the largest share of the global parenteral nutrition market owing to the rising approval of novel single dose amino acid parenteral products by regulatory authorities. Parenteral lipid emulsion is projected to growth at the highest CAGR due to rising demand for this nutrient as it offers potential benefits as drug delivery vehicle. For example, administration of lipid emulsions act as essential drug carriers that results in reduced pain, irritation, and prevention of thrombophlebitis.
The global parenteral nutrition market is consolidated in which relatively small number of companies accounted for majority of market share. Companies such as Baxter International, Inc., Fresenius SE & Co. KGaA, B. Braun Melsungen AG, Hospira, Inc., Grifols S.A., Claris LifeSciences Limited and others are some of the key players having presence in the global parenteral nutrition market.
The global parenteral nutrition market is segmented as follows:
- Global Parenteral Nutrition Market, By Type of Nutrient
- Parenteral Lipid Emulsion
- Single Dose Amino Acid Solutions
- Trace Elements
- Vitamins and Minerals
- Global Parenteral Nutrition Market, by Geography
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
Other Reports by Transparency Market Research:
- Diabetes Devices and Drugs Market: http://www.transparencymarketresearch.com/diabetes-devices-market.html
- Liver Diseases Therapeutics Market: http://www.transparencymarketresearch.com/liver-diseases-therapeutics.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research