Selbyville, Delaware, Aug. 16, 2021 (GLOBE NEWSWIRE) --
The parenteral nutrition market size is anticipated to record a valuation of USD 8.4 billion by 2027, according to the most recent study by Global Market Insights Inc. The surging number of metabolic disorders, coupled with the prevalence of pre-term babies, is driving the market growth--both in terms of value and volume. Given that prematurely born infants need a high number of nutritional supplements, investments in parenteral nutrition are likely to gain an uptick.
The prevalence of malnutrition among children is also fueling the demand for parenteral nutrition. According to the WHO, globally around 149 million children under 5 years of age were projected to be stunted (too short for age); 38.9 million were obese or overweight; 45 million were estimated to be wasted (too thin for height) in 2020.
A couple of trends have emerged in the past few years that can have an underlying influence on the global parenteral nutrition market outlook. Following are some of the trending factors healthcare providers and other market makers may deliberate upon:
Fat component to stay in the mix
The parenteral fat component has become instrumental to boost therapeutic capabilities in critically ill patients. Growing traction for fats is partly attributed to increasing demand for lipid emulsions to reduce inflammation, boost metabolic and clinical results. Notably, lipid formulations have become trendier in keeping FA deficiency, lipid peroxidation, hyperglycemia and phytosterol toxicity in check. The parenteral fat segment in the parenteral nutrition market could expand at a healthy CAGR of 8.1% through 2027.
Products for children and newborns record high consumption
Parenteral nutrition is palpably prescribed to children and newborns on the heels of escalating premature births, especially in under-developed and developing countries. According to the report published by the WHO, around 30 million newborns are estimated to die within the first 28 days of life between 2017 and 2030. Besides, preterm births in China and India were 1,172,300 and 3,519,100 in 2019 respectively. The children & newborns segment in the parenteral nutrition market was valued at over USD 2,283 million in 2020 and is poised to witness a commendable gain in the ensuing period.
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Demand to be pronounced across homecare settings
Rising prevalence of chronic diseases demanding long-term care has furthered the penetration of home care settings. National Centers for Biotechnology Information (NCBI) recommends home parenteral nutrition (HPN) for adults suffering from cancer and other diseases. Prominently, the number of cancer patients has surged in emerging economies such as India and Nigeria. According to the American Society of Clinical Oncology Journal, the number of cancer patients in India was around 1,392,179 in 2020. Notably, HPN derails progressive weight loss and improves nutritional outcomes. Driven by the aforementioned factors, homecare parenteral nutrition market segment is projected to touch USD 1,148 million by 2027.
Brazil poised to lead the regional market
Latin America is proving to be a viable hub to provide essential newborn care and quality services amidst an unprecedented rise in child malnutrition and cases of chronic ailments. The 2020 Global Nutrition Report claims 8.4% of infants have a low weight at birth in Brazil. Additionally, 7% of children under 5 years of age grapple with malnutrition. According to WHO 2019 statistics, around 279,300 preterm births were witnessed in Brazil. Robust government initiatives such as the National Program of Feeding and Nutrition are likely to bolster the business forecast of parenteral nutrition. The Brazil parenteral nutrition market is slated to be valued at around USD 312 million by 2027.
The way forward
As a holistic approach, well-established players, new entrants and other stakeholders could shift focus to innovative and tailored approaches to foster access and quality of parenteral nutrition. In a bid to meet the UN Sustainable Development Goal to end newborns’ preventable deaths by 2030, decision-makers will vie to overcome malnutrition challenges through parenteral nutrition. Also, more research on essential micronutrition could be inevitable as parenteral nutrition practices continue to evolve.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
