Parenteral Nutrition Market 2020 Prominent Players - Wuhan Shu Ou Technology Co. Ltd., Xi'an Libang Enterprises, Xiamen ShengLang SaiChuang Biological Technology Co. Ltd., Zhuzhou Yuancheng Hezhong Technology Development Co. Ltd.
Increasing trend of malnutrition worldwide will augment the growth of the parenteral nutrition market. For instance, as per World Health Organization, 45% of deaths among children under the age of 5 years are due to undernutrition. Moreover, rising geriatric population will augment the growth of the market. Since, people above the age of 65 are more prone to chronic diseases. Hence, the aforementioned reasons will boost the growth of the market.
Various regulatory bodies such as, FDA and European Society for Clinical Nutrition and Metabolism provides regulatory norms for approval of parenteral nutrition products. Hence such stringent regulatory frame work contributes to curb the market growth.
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Amino acids market segment is estimated to grow at a CAGR of 3.8% over the projection period. Growing incidence of renal insufficiency, hepatic insufficiency and protein-energy malnutrition will boost the demand of the amino acid-rich parenteral products. Hence, the increasing case of such diseases will propel the growth of the parenteral nutrition market.
Child parenteral nutrition segment was valued around USD 1,820.8 million in the year 2018 and will have substantial amount of growth owing to the increasing prevalence of chronic disorders in the babies. Pediatric disorders such asthma, chicken pox, leukemia, tuberculosis, anemia, bronchitis will create high demand for the parenteral nutrition products. Thus, augmenting the growth of the market.
Hospitals segment held around 70% market share in the parenteral nutrition market, due to the availability of advanced therapeutic solutions. Hospitals have the facilitates to provide comprehensive parenteral care for patients suffering from complex clinical conditions.
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U.S. parenteral nutrition market will witness a growth at 3.3% during the forecast period. Due to rise in awareness about various parenteral nutritional products, coupled with increasing chronic diseases and healthcare expenses will augment the U.S. parenteral nutrition market. Additionally, presence of major industry player such as, ICU Medical, led by international pediatric nutritionals will increase regional market share.
India parenteral nutrition market was valued around USD 199.1 million in the year 2018. Growing birth rate coupled with rising geriatric population will augment the growth of the market in the forecast time. The developing economies such as India and China have acquired rapid progress in socio economic development, including reduction rate in people suffering from malnutrition. In countries such as India and China, growing consumption of junk food have propelled the growth of nutrition related non communicable diseases such as, diabetes, obesity, hypertension, and other metabolic disorders. Hence, the above mentioned reasons will augment the growth of parenteral nutrition market.
Industry players having a strong foothold include Aculife Healthcare, B. Braun Melsungen AG, Baxter International, Inc. Fresenius Kabi and Grifols International S.A etc. Other notable participants include Guangzhou Baiyunshan Mingxing Pharmaceutical Co., Ltd., Guangzhou Green Cross Pharmaceuticals and ICU Medical, etc. To expand their industry presence, many established firms are entering in sparsely addressed high potential regions. Introduction of parenteral solutions in emerging economies by these companies enables them to cater to unmet needs and expand revenue sources.
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