China driving growth of Asia’s parenteral nutrition market

13-Jun-2017 - Last updated on 13-Jun-2017 at 15:54 GMT

Market growth in China will outstrip the global average. ©iStock

Related tags Nutrition

China is set to spearhead the growth of the region’s parenteral nutrition market to 2023, with pre-term births and rising cancer cases responsible for the growing need of intravenous feeding solutions.

The sector is forecast to be worth US$6.9bn globally by 2023, compared to US$4.1bn in 2014.

Between the years 2015 and 2023, the market is expected to expand at a CAGR of 5.7% worldwide, but growth in APAC will top the average recording a predicted rise of 7.3%.

According to analysts at Transparency Market Research, China will lead the charge, followed by India, Indonesia, Singapore, Taiwan. Rising preterm births and the associated malnutrition risk is the prime reason for the growth of parenteral nutrition products in Asia Pacific.

However, more cases of cancer, diabetes, Crohn’s disease, gastro-intestinal disorders and short bowel syndrome illnesses is also contributing to market growth.

“The World Health Organization (WHO) affirmed this fact with statistics indicating that there will be a 70% rise in the number of new cancer cases between 2025 and 2035. The Crohn’s & Colitis Foundation of America also provided grim figures indicating that there will be 70,000 new cases of Crohn’s disease each year. Thus, the rising health complications will propel the demand for parenteral nutrition across health facilities,” said researchers.

Out of all the products available in the global parenteral nutrition market, single dose amino acid solutions captured a significant share of the market (34.14%) in 2014.

Research indicates that this segment will continue to be the lead the sector, with several leading players preparing to introduce new products.

Reports suggest that the parenteral lipid emulsion nutrient segment will grow at the highest CAGR (6.2%) between 2015 and 2023.