August 19, 2022 09:00 ET | Source: FACT.MR FACT.MR
Dublin, Ireland, Aug. 19, 2022 (GLOBE NEWSWIRE) -- A recently published study by Fact.MR estimates that the global parenteral nutrition market is expected to surge at a 7% CAGR from 2022-2032, reaching nearly US$ 14 Bn in value terms. Growth of the market is principally attributed to the rising cases of nutrition inadequacy across multiple age groups, induced either by chronic conditions or contraction of infectious ailments.
In the future, growth is expected to remain elevated amid the rising nutritional intake requirements, particularly in the developing world. Rising cases of premature births and growing cases of malnutrition are among some primary growth drivers expected to influence future parenteral nutrition products sales.
Historically, the market surged at a CAGR of 6.4% between 2015 and 2021. By 2021-end, the market was valued at US$ 6 Bn. During the novel coronavirus pandemic, growth prospects only served to heighten, given the increasing preference for parenteral route of administering drugs and other essential nutrients to infected patients. This method also reduced chances of contracting the COVID-19 infection, especially within the healthcare staff.
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COVID-19 Impact on Parenteral Nutrition Market
The parenteral nutrition market value has been impacted by the extraordinary global health issue caused by the COVID-19 virus outbreak. Parenteral nutrition played a crucial part in the treatment of malnutrition caused by the COVID-19 infection in patients all over the world. A severe lack of appetite brought on by the COVID-19 infection was accompanied by other symptoms that worsened immune defences and caused muscle mass loss. In response to this illness, hospitals and clinics have increased the number of healthcare facilities available for patients who need diet tailored to their sickness. Such advancements are likely to increase patient demand for and adoption of intravenous nutrition administration.
Key Takeaways from the Market Study
Prominent parenteral nutrition products manufacturers are striving to continuously improve their product offerings. They do so by introducing new product lines, consolidating their presence through collaborations and acquiring some small to medium-scale providers among others. Some key developments are as follows:
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Parenteral Nutrition Market Report Highlights
Key Segments Covered in the Parenteral Nutrition Research Report
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Fact.MR, in its new offering, presents an unbiased analysis of the parenteral nutrition market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of nutrient type (carbohydrates, parenteral lipid emulsion, single dose amino acid solution, trace elements and vitamins & minerals) across five major regions (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa).
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