11.28.17
The global parenterally administered medical nutrition market will likely rise at a 7.2% CAGR between 2017 and 2025 to become worth $6 billion by 2025 from $3.2 billion in 2016, according to a recent report by Persistence Market Research (PMI), titled, “Global Market Study on Medical Nutrition: North America to Remain Largest Regional Market throughout the Forecast Period 2017–2025.”
The report shines light on important aspects of the market, offering information on the various growth drivers and restraints molding the growth path of the market, its size, and prospects going forward. It unravels the competitive dynamics in the market by leveraging popular analytical tools.
Primarily catalyzing growth in the medical nutrition market is the burgeoning geriatric population, which is highly susceptible to different types of age-related diseases such as diabetes, Parkinson’s disease, nervous disorders, and organ failures. Such patients suffer from restrictive food ingestion and need parenteral nutrition feeding to keep their nutritional levels intact. Increasing use of home parenteral nutrition therapy by the elderly afflicted with chronic illnesses, namely cancer, diabetes, and AIDS is also stimulating the global market for medical nutrition.
Apart from the substantial elderly population, another factor boosting demand in the global medical nutrition market is the increasing occurrence of chronic diseases. Chronic obstructive pulmonary disease (COPD), for instance, is a primary cause of disability and death all over the world. Most people afflicted with COPD have malnutrition and hence require nutritional support to live.
A welcome trend in the medical nutrition market is the considerable growth in investments by leading companies for developing novel parenteral nutrition drugs. Companies operating in the global medical nutrition market are trying to come up with improved nutritional products that safely fulfill the nutrition requirements of patients in different clinical conditions. In fact, numerous companies have bagged regulatory approvals for novel and efficient parenteral nutrition drugs over the past couple of years.
One factor, acting as a challenge to the medical nutrition market is the fact that parenteral administration needs proper monitoring to avoid side effects or complications. Incorrect use of this therapy ups risk of catheter infections, re-feeding syndrome, particulate contamination, and liver dysfunction. Catheter-related bloodstream infection (CRBSI) is considered to be a very serious, costly, and frequent complication caused in patients on parenteral nutrition. Further, it also leads to issues such as shortness of breath, allergic reactions, unexplained weight gain, weakness, muscle pain, and loss of appetite. These side effects and complications are negatively impacting the market.
Geographically, North America currently dominates the market in terms of revenue. In the years ahead too, the region is predicted to hold onto its leading position by clocking a CAGR of 8.7% in the forecast period. The market will likely attain a value of $2.3 billion by 2025. The main distribution channels in the medical nutrition market are retail pharmacies, hospital pharmacies, compound pharmacies, etc.
Some of the key players in the global market for medical nutrition are Allergan, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Danone Nutricia, Fresenius Kabi AG, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC, Sichuan Kelun Pharmaceutical Company Limited, Sanofi, and Grifols S.A.
The report shines light on important aspects of the market, offering information on the various growth drivers and restraints molding the growth path of the market, its size, and prospects going forward. It unravels the competitive dynamics in the market by leveraging popular analytical tools.
Primarily catalyzing growth in the medical nutrition market is the burgeoning geriatric population, which is highly susceptible to different types of age-related diseases such as diabetes, Parkinson’s disease, nervous disorders, and organ failures. Such patients suffer from restrictive food ingestion and need parenteral nutrition feeding to keep their nutritional levels intact. Increasing use of home parenteral nutrition therapy by the elderly afflicted with chronic illnesses, namely cancer, diabetes, and AIDS is also stimulating the global market for medical nutrition.
Apart from the substantial elderly population, another factor boosting demand in the global medical nutrition market is the increasing occurrence of chronic diseases. Chronic obstructive pulmonary disease (COPD), for instance, is a primary cause of disability and death all over the world. Most people afflicted with COPD have malnutrition and hence require nutritional support to live.
A welcome trend in the medical nutrition market is the considerable growth in investments by leading companies for developing novel parenteral nutrition drugs. Companies operating in the global medical nutrition market are trying to come up with improved nutritional products that safely fulfill the nutrition requirements of patients in different clinical conditions. In fact, numerous companies have bagged regulatory approvals for novel and efficient parenteral nutrition drugs over the past couple of years.
One factor, acting as a challenge to the medical nutrition market is the fact that parenteral administration needs proper monitoring to avoid side effects or complications. Incorrect use of this therapy ups risk of catheter infections, re-feeding syndrome, particulate contamination, and liver dysfunction. Catheter-related bloodstream infection (CRBSI) is considered to be a very serious, costly, and frequent complication caused in patients on parenteral nutrition. Further, it also leads to issues such as shortness of breath, allergic reactions, unexplained weight gain, weakness, muscle pain, and loss of appetite. These side effects and complications are negatively impacting the market.
Geographically, North America currently dominates the market in terms of revenue. In the years ahead too, the region is predicted to hold onto its leading position by clocking a CAGR of 8.7% in the forecast period. The market will likely attain a value of $2.3 billion by 2025. The main distribution channels in the medical nutrition market are retail pharmacies, hospital pharmacies, compound pharmacies, etc.
Some of the key players in the global market for medical nutrition are Allergan, Otsuka Pharmaceuticals Co., Ltd., Baxter International Inc., Danone Nutricia, Fresenius Kabi AG, Abbott Laboratories, Pfizer, Inc., Mead Johnson & Company, LLC, Sichuan Kelun Pharmaceutical Company Limited, Sanofi, and Grifols S.A.
