Parenteral Nutrition: Unraveling the Latest Trends Shaping the...

Parenteral Nutrition: Unraveling the Latest Trends Shaping the Market

Posted 2024-10-22 07:16:19

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SVP Market Size and Parenteral Nutrition

The global small volume parenteral market size was valued at USD 7.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. Rise in preterm births and increase in prevalence of chronic diseases like cancer, diabetes and cardiovascular diseases that require intravenous therapy are major factors driving the market growth. As per World Health Organization (WHO), chronic diseases account for approximately 60% of all deaths globally.

Types of Small Volume Parenteral

Small volume parenterals are classified based on the type of components in the solution:

- Crystalloids SVP: These contain electrolytes like sodium chloride or solutions that mimic the composition of extracellular fluids in the body. Examples include normal saline, lactated Ringer's solution.

- Colloid SVP: These contain electrolytes along with colloid substances like dextrans or hydroxyethyl starches that increase the circulating volume by remaining within the blood vessels. Examples are hetastarch, pentastarch.

- Total Parenteral Nutrition (TPN) SVP: Also known as intravenous feeding, these provide Parenteral Nutrition like calories, protein, vitamins and minerals. They are used when enteral feeding is not feasible.

Regional Market Analysis

North America dominates the global SVP market owing to high healthcare spending and growing geriatric population in US and Canada requiring complex IV therapies. Europe holds the second largest market share. However, Asia Pacific region is expected to witness highest growth during the forecast period owing to improving healthcare infrastructure and rise in medical tourism in countries like India, China and Japan. Emerging economies are expected to offer lucrative opportunities for SVP manufacturers.

Key Market Players and Competitive Analysis

The global small volume parenteral (SVP) market is consolidated with top players accounting for major market share. Some of the key players operating in this market include:

- Baxter International Inc.