PUBLISHER: Grand View Research | PRODUCT CODE: 1321340
PUBLISHER: Grand View Research | PRODUCT CODE: 1321340
The Europe parenteral lipid emulsion market size is projected to reach USD 1.04 billion by 2030 and is anticipated to expand at a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Growing burden of chronic diseases, such as diabetes, cancer, other neurological conditions; increasing deficiency of essential fatty acids among critically ill patients; and growing awareness regarding hospital-related malnutrition are some of the major factors driving the adoption of lipid emulsions. Parenteral lipid emulsions play a vital role in supporting better health outcomes, as malnutrition can have a serious impact on hospitalized patients. Hospitalized adults diagnosed with malnutrition have a longer length of hospital stay and higher recovery costs and are five times more likely to die as compared to other adult inpatients. Therefore, intravenous fat emulsions are used for preventing or reversing fatty acid deficiency by providing a source of calories to patients with urgent need for parenteral nutrition.
The adoption of parenteral nutrition is increasing among the geriatric group, as they are unable to fulfill their nutritional requirements through the enteral route. There is an inverse relationship between nutritional status and complications associated with the length of stay in the hospital and the time to recover after an acute illness among the elderly patient group. The growing geriatric population, surge in demand for fat emulsions among critically ill patients for fulfilling their nutritional requirements, and high prevalence of chronic diseases, including Alzheimer's, inflammatory bowel disease, and others, are key factors responsible for higher adoption of parenteral lipid emulsions among this patient population.
Furthermore, an increase in the number of strategic initiatives undertaken by leading manufacturers to expand their footprint and product reach is expected to drive the market. Significant investments, the setup of new product lines, and various research initiatives for the development of new lipid emulsions are anticipated to boost the market growth. For instance, in July 2019, Baxter announced the European launch of Finomel to its parenteral nutrition portfolio. Moreover, increasing approvals for innovative products, including hybrid lipid emulsions with a combination of two or more sources such as soybean and olive oil, are likely to fuel market growth.