Braun Melsungen AG, Fresenius SE & Co. KGaA, and Baxter International, Inc., who collectively held more than two-third of the total shares in the global parenteral nutrition market as of 2017, are focusing on improving their line of products, reports Transparency Market Research. The trend of winning approvals for their new formulations from concerned authorities is also helping them gain a significant footprint in the market, observes TMR.
Strategic joint ventures are also being considered by companies to expand their businesses and enhance their product portfolio in the near future. “Plans to expand manufacturing facilities are also underway. This move will help companies ensure utmost safety, unquestionable quality, and remarkable efficiency of the product,” asserts the head analyst of this report.
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Parenteral Nutrition Becomes Critical to Saving Lives – A Key Growth Enabler
The focal point of parenteral nutrition is to provide chronically ill patients adequate nutritional support. The high incidence of chronic conditions such as cancer, gastro-intestinal disorders, ischemic bowel disease, diabetic complications, and Crohn’s disease amongst others is propelling the demand for parenteral nutrition. As this form of oral nutritional supplement becomes the only way of treating the immobilized patient, the demand for these nutrients is witnessing a phenomenal rise.According to the World Health Organization about 11% of the global burden of disease is due to malnutrition and is considered to be a huge risk to human life. As this number will increase in the coming years citing issues of political unrest, food security, and changing environmental conditions, the demand for parenteral nutrition will remain persistent.