Increasing geriatric population in developed countries and rising cases of malnutrition are fueling the global medical nutrition market
An increasing aging population is now recognized as a global issue of importance. Aging population is increasing in almost all the countries across the world. Furthermore, the geriatric population is more prone to age-related diseases such as nervous disorders, Parkinson’s disease, diabetes, and organ system failure. Such patients suffer from restrictive food ingestion and require parenteral nutrition feeding to maintain their nutritional levels. Around two thirds of the general hospital beds are used by the geriatric population aged over 65 years, while people over 75 years have to stay for a longer period of time in hospitals. The burden of geriatric population affects the nutrition balance and consequently the use of parenteral nutrition has been increased since the last few years. A rising use of home parenteral nutrition therapy by the geriatric population with chronic illnesses such as diabetes, cancer and AIDS is anticipated to boost the growth of the global medical nutrition market.
Increasing cases of malnutrition due to rapid spread of chronic diseases is expected to drive the global medical nutrition market. Chronic obstructive pulmonary disease (COPD) is the one of the major causes of disability. As per the World Health Organization (WHO), COPD is considered to be one of the top causes of death worldwide and the numbers are expected to be increasing by the day. COPD is expected to be responsible for the death of 3 Mn patients in 2015 globally. Malnutrition is considered to be one of the common problems in COPD patients who require nutritional support for survival.
The R&D pipeline of leading companies developing novel parenteral nutrition drugs is experiencing unprecedented growth with increasing investments. Companies operating in the global medical nutrition market strive to develop advanced or standard nutritional products that safely and sufficiently satisfy the nutrition requirements of patients in different clinical conditions. Several companies have successfully received regulatory approvals for novel and effective parenteral nutrition drugs in the past few years.
North America to remain dominant in the global parenteral medical nutrition market
The global parenterally administered medical nutrition market is anticipated to grow from over US$ 3,200 Mn in 2016 to more than US$ 6,000 Mn by 2025 end. This represents a CAGR of 7.2% in terms of value over the forecast period. The global parenterally administered medical nutrition market represents incremental opportunity of more than US$ 2,500 Mn between 2017 and 2025. North America dominated global parenteral medical nutrition market in terms of revenue in 2016, and the trend is projected to grow throughout the forecast period. North America segment is the most attractive regional market, with attractiveness index of 2.2 over the forecast period. Revenue from the North America market is anticipated to increase at a CAGR of 8.7% over 2017–2025, to reach a market valuation in excess of US$ 2,300 Mn by 2025.
Side effects or complications related to parenteral nutrition products
Parenteral administration demands regular assessment and monitoring in order to avoid complications or side effects. Inappropriate usage of this therapy maximizes the potential risk of adverse events such as re-feeding syndrome, particulate contamination, catheter infections, and liver dysfunction to the patients undergoing the therapy. Catheter-related bloodstream infection (CRBSI) is considered one of the most serious, costly, and frequent complications of parenteral nutrition among patients. According to the U.S. Centers for Disease Control and Prevention (CDC), thousands of deaths occur due to catheter-related bloodstream infections every year in the U.S. In this regard, the U.S. government spends billions of dollars to prevent the spread of this infection every year. An article published by the American Society for Nutrition in 2014 also indicated that long-term parenteral nutrition therapy significantly increases the risk of liver disease and metabolic complications in patients. A study published by University Health Network also suggested that metabolic bone diseases is a significant complication in patients receiving long-term home parenteral nutrition. Moreover, problems such as allergic reactions, shortness of breath, unexplained weight gain, muscle pain, weakness, and loss of appetite are more common among patients undergoing parenteral nutrition therapy. These complications/side effects are expected to restrain revenue growth of the global medical nutrition market.
Acquisitions and collaborations are the key strategies adopted by companies in the global medical nutrition market. To provide detailed information on the overall performance of the global medical nutrition market, we have come up with a new publication titled “Medical Nutrition Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025).” According to our study, companies operating in this market are focusing on collaborating with other manufacturers to establish research centers for developing new nutritional products. While targeting the different segments of the global medical nutrition market, we have observed that the hospital pharmacies segment is expected to witness a significant rise in revenue share over the forecast period. Among regions, APAC represents a lucrative market for medical nutrition products due to increasing geriatric population in this region. Our primary research indicates that parenterally administered medical nutrition products used in homecare settings are also sold through hospital pharmacies and compounding pharmacies based on the market requirement.
Forecast assumptions of the global medical nutrition market
Pricing analysis is done in terms of per unit products or bags in order to simplify comparison. Factors such as reimbursement scenario, availability of products across regions, availability of infrastructure to manufacture clinical nutrition products, presence of compounding facilities, government influence in driving the parenterally administered medical nutrition market and regulatory aspects regarding availability of nutrition products have been considered in calculating the pricing differentials across products and regions. Company share analysis is done based on the companies’ revenue, product mapping and availability, country presence and adoption across regions. Market share for revenues derived from compounding is estimated largely based on primary research.
By Nutrition Type
By Product Type
By Distribution Channel
Primary insights on the procurement and tender process in the global medical nutrition market
In European countries the procurement of parenterally administered medical nutrition is based on specific requirement. Hospitals purchase nutrition products from registered pharmacies based on requirement. Compounding of parenterally administered medical nutrition in compounding pharmacies in the U.S is performed mostly for amino acids and multivitamins. Overhead costs include all costs related to cleaning and disinfection, production material (caps, filling devices, needles, syringes, swabs, etc.), garments (sterile gloves, headwear, masks, and overshoes), equipment utilization, bacteriology controls, wrappings and PN order handling.
We have sourced the information from various secondary sources such as magazines, journals and newsletters to make this report more comprehensive and data driven. The other sources include data obtained from Industry Outlook, U.S. FDA, EMA, American Society for Parenteral and Enteral Nutrition (ASPEN), The European Society for Clinical Nutrition and Metabolism (ESPEN). Macro-economic indicators such as nutrition industry outlook, spending on clinical nutrition, consumption patterns for parenteral nutrition products, and others have been considered to arrive at the indicated market numbers. Bottom-up approach has been used to counter-validate the reached market numbers while top-down approach has been used to assess market numbers for each category.
We have adopted a systematic research approach while studying the global medical nutrition market. In-depth secondary research is used to arrive at the overall market size, top industry players, top products and industry associations. Our analysts have formulated a detailed discussion guide in order to conduct expert and industry interviews. We have also conducted interviews with industry experts, industry players, distributors and retailers. Data is validated using the triangulation method, wherein primary and secondary research and Persistence Market Research analysis contribute to the final data. We have also analyzed the various companies’ annual reports, investor presentations, SEC filings, and press releases to fetch substantial information about the market size, trends, opportunities, drivers and restraints.