According to a recent Future Market Insights (FMI) report, sales of parenteral formula are expected to reach a value of US$ 12.5 billion by 2034. The market is anticipated to rise at a CAGR of around 5.7% from 2024 to 2034. It is estimated to attain a value of US$ 6.8 billion by 2024.
Look out for a growing market in Parenteral Formulas (delivered intravenously for nutrition) FMI predicts a surge due to rising malnutrition and preterm births worldwide (2024-2034). The report offers a comprehensive analysis to help you capitalize on this trend, including market drivers, potential challenges, and exciting opportunities. It even provides investment insights and strategic decision-making tools.
Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-19343
The high prevalence of chronic diseases worldwide is a key factor propelling the parenteral formulation industry. Parenteral formulation consumption has increased recently due to the rising prevalence of short bowel syndrome, cancer, AIDS, diabetes, Crohn’s disease, and other digestive problems.
The International Agency for Research on Cancer (IARC), for instance, estimates that 18.1 million new cases and 9.6 million deaths occurred in 2018. Furthermore, according to the National Renal Foundation, 10% of people worldwide suffer from chronic renal disease every year.
Based on several forms of patient feeding, the study provides a thorough segmentation of the global parenteral formula industry. The global market is divided into categories based on the kind of nutrition: carbohydrates, trace elements, electrolytes & minerals, single-dose amino acid solutions, parenteral lipid emulsions, and vitamins.
Lipid emulsion infusion provides a significant energy source, helps avoid high glucose infusion rates, and is required for the delivery of vital fatty acids. The potential advantages of using parenteral lipid emulsions as a drug delivery system have contributed to the segment’s expansion.
Patients with impaired gastrointestinal tracts or those who are unable to consume enough food orally or enterally are shifting toward parenteral nourishment. Products for parenteral nutrition contain a variety of micronutrients like vitamins, minerals, and trace elements. These also contain macronutrients like carbohydrates, amino acids, and lipid emulsions.
The parenteral formula market is mainly pushed by rising chronic illnesses like HIV, Crohn’s disease, and cancer. The market is also augmented by extensive research & development efforts of leading firms to create new parenteral nutrition products.
Key Takeaways from the Parenteral Formula Market Study:
- Global parenteral formula sales grew at a CAGR of 4.7% from 2019 to 2023.
- The United States parenteral formula industry is poised to exhibit a CAGR of 3.8% during the assessment period.
- The parenteral formula market in Germany is anticipated to rise at a steady CAGR of 4.4% during the forecast period from 2024 to 2034.
- Japan’s parenteral formula market is poised to exhibit a CAGR of 5.1% during the assessment period.
- By type of nutrient, the electrolytes segment is expected to register a CAGR of 7.7% from 2024 to 2034.
- The online pharmacies segment is anticipated to thrive at 8.3% CAGR during the projection period.
“Critical care settings, surgical units, and long-term care facilities are adopting parenteral formulas to help patients suffering from chronic conditions. Key companies are hence striving to come up with novel formulas to enhance safety and efficacy,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Who is Winning
Baxter International Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Otsuka Pharmaceutical Co., Ltd., Aculife Healthcare Private Limited, and Nutricia (a subsidiary of Danone) are some of the key players in the global market. These companies are expanding product portfolios, employing strategies like advertising to propel growth in the market.
The parenteral formula industry has a diverse and dynamic competitive landscape. Leading companies are focusing on research & development, sustainable sourcing, and new formulations.
For instance,
- Otsuka Pharmaceutical received marketing approval for ENEFLUIDⓇ Injection in 2020. The injection contains water-soluble vitamins, lipids, amino acids, glucose, and electrolytes.
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