The global parenteral nutrition market is expected
to reach USD 7.3 billion by 2024, according to a new report by Grand View
Research, Inc. The increasing natality rate, the growing malnutrition coupled
with the prevalence of chronic conditions such as cancer and gastro-intestinal
tract diseases are expected to boost the market over the forecast period.
The presence
of malnourished children in the developing countries leading to the rise in the
natality rate and the rising geriatric population suffering from a deficiency
of essential nutrients are some of the major factors that are expected to fuel
the global parenteral nutrition market.
According to
the WHO around 40.0% patients across the world were malnourished in 2010. The
study also indicated that about one-third of the patients in Europe were
malnourished in 2012, thereby fueling industry growth.
According to
the statistics provided by the World Bank Group, India had the highest natality
rate followed by China in 2012. Moreover, a consistent increase in the rate of
natality was observed in the European countries such as the U.K. and France.
Therefore, Asia Pacific and Europe are expected to witness the fastest growth
over the forecast.
North
America is expected to witness lucrative growth due to the increase in consumer
awareness paired with the increasing healthcare costs. As parenteral nutrition
products are available in the home health care sector, it further facilitates
the market growth due to the increasing trend in home health care. The
increasing incidence of heart diseases is another vital driver. According to
the WHO around 49.0% of the American population is endangered with the risk of
cardiac arrest.
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Further key findings from the study suggest:
- North America is expected to dominate the overall market with a revenue share of about40.0% in 2024, owing to the increasing incidences of heart diseases coupled with the rise in home health care.
- Asia Pacific and Europe are anticipated to be the fastest growing region with a CAGR of over5.5% over the forecast period. The rise in the natality rate, rising geriatric population and the growing awareness regarding the importance of nutritional value and its impact on health are the vital impact rendering drivers for the region.
- Key players of the industry include Baxter International, Inc., Hospira, Inc., B. Braun Melsungen AG, Grifols International S.A., Fresenius Kabi AG, Otsuka Pharmaceutical Factory, Inc., Actavis, Inc., Sichuan Kelun Pharmaceutical Co., Ltd. Most of these companies have been in the business for over a decade and are bringing in expertise and technological advancements that are expected to help them sustain over the forecast period.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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