Parenteral Nutrition Market Share, Trends, Analysis and Forecasts, 2020 – 2030
Increasing number of patients suffering from cancer, Crohn’s disease & HIV, increasing premature deliveries, high natality rate, and increasing number of children affected with malnutrition are the major factors driving the growth of parenteral nutrition market globally. Parenteral nutrition plays a vital role in administering the vital nutrients, minerals, and lipids to the patients incapable of consuming food and nutrients through oral or enteral route. Increasing number of cancer patients worldwide has contributed a prominent share to the global consumption of parenteral nutrition control. Due to the effects of heavy medication during the treatment of cancer, patients become weak and rely on the parenteral nutrition for supply of essential nutrients. High natality rate and increasing number of premature deliveries has resulted in adoption of parenteral nutrition during the critical phase after birth. Additionally, due to increasing prevalence of malnutrition, the parenteral nutrition is gaining popularity across the globe. This is anticipated to fuel growth of the global parenteral nutrition market during the forecast period.
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North America contributed the largest share to the global parenteral nutrition market in 2019 and is anticipated to be a dominating geography through the forecast period. Increasing number of cancer patients, increased premature deliveries, and development of new products are the key factors driving the North America parenteral nutrition market. Additionally, growth of FDA approval for novel parenteral nutrition products is expected to contribute towards the demand for parenteral nutrition in the region. Asia Pacific is expected to contribute a prominent share to the global market and is anticipated to be the fastest growing parenteral nutrition market during the forecast period. Expanding geriatric population, increasing prevalence of cancer, high natality rate, and increasing number of premature births across the region is expected to fuel the growth of parenteral nutrition market during the forecast period.
For instance, Pfizer Inc. reported revenues of USD 51,750 million in 2019 and the product segment analysis of the company indicates that Biopharma business segment of the company dominated revenue in 2019 with the United States being the largest revenue contributing geography.
The global parenteral nutrition market is segmented based on nutrition type and geography. Based on nutrition type, the global parenteral nutrition market is segmented into carbohydrates, parenteral lipid emulsions, single dose amino acid solutions, trace elements, electrolytes & minerals, vitamin, and others. Based on geography, the global parenteral nutrition market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on parenteral nutrition Further, market share of prominent companies in the global parenteral nutrition market would also be estimated. For instance, Pfizer Inc. operates through three business segments namely Biopharma, Upjohn, and Consumer Healthcare. The parenteral nutrition is delivered under Upjohn business segment of the company with revenue contribution of US$ 10,233 million in 2019.
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The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the parenteral nutrition companies. The global parenteral nutrition market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the parenteral nutrition business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global parenteral nutrition market.