The progress of the global parenteral nutrition market is based on the high prevalence of chronic conditions across the globe. The rise in cancer, AIDS, diabetes, Crohn’s disease, gastro-intestinal disorders, and short bowel syndrome cases has also led a growth in the consumption of parenteral nutrition in the recent years. The World Health Organization (WHO) affirmed this fact with statistics indicating that there will be a 70% rise in the number of new cancer cases between 2025 and 2035. The Crohn’s & Colitis Foundation of America also provided grim figures indicating that there will be 70,000 new cases of Crohn’s disease each year. Thus, the rising health complications will propel the demand for parenteral nutrition across health facilities.
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These supportive factors are expected to create an opportunity for this market, which will be worth US$6.9 bn by 2023 as compared to US$4.1 bn in 2014. Between the years 2015 and 2023, this market is expected to expand at a CAGR of 5.7%.
Parenteral Nutrition Becomes Critical to Saving Lives – A Key Growth Enabler
The focal point of parenteral nutrition is to provide chronically ill patients adequate nutritional support. The high incidence of chronic conditions such as cancer, gastro-intestinal disorders, ischemic bowel disease, diabetic complications, and Crohn’s disease amongst others is propelling the demand for parenteral nutrition. As this form of oral nutritional supplement becomes the only way of treating the immobilized patient, the demand for these nutrients is witnessing a phenomenal rise.
According to the World Health Organization about 11% of the global burden of disease is due to malnutrition and is considered to be a huge risk to human life. As this number will increase in the coming years citing issues of political unrest, food security, and changing environmental conditions, the demand for parenteral nutrition will remain persistent.
Side Effects of Parenteral Nutrition Hamper Market Growth
The global parenteral nutrition market faces the huge risk of health complications due to poor monitoring. The American Society for Nutrition also stated that prolonged usage of parenteral nutrition therapy can lead to metabolic complications and liver diseases. Furthermore, shortness of breath, allergic reactions, muscle pain, and unexplained weight gain are also hampering the growth of this market.
However, a large patient pool in emerging economies of China, Brazil, India, and Brazil offer a tremendous scope for growth to the parenteral nutrition market. Furthermore increasing investment by leading players in the developing regions of Asia Pacific and Latin America to increase production of parenteral nutrition is also expected to create large opportunities to register a high growth.