Parenteral Nutrition

Parenteral Nutrition Market Outlook

The global parenteral nutrition market is projected to reach a value of approximately USD 5.4 billion by 2035, expanding at a compound annual growth rate (CAGR) of around 7.8% during the forecast period from 2025 to 2035. This notable growth can be attributed to several key factors, including the increasing prevalence of chronic diseases, a growing geriatric population, and advancements in medical technologies. Additionally, the rising demand for home healthcare solutions is further propelling market expansion. The surge in outpatient therapies and the need for nutritional support in patients with various health conditions are also significant contributors to the market's growth. Furthermore, ongoing research and development activities in the field of parenteral nutrition formulations are expected to drive innovation and enhance product offerings, thereby fostering market growth in the coming years.

Growth Factor of the Market

One of the primary growth factors driving the parenteral nutrition market is the increasing incidence of chronic illnesses, which necessitate specialized nutritional support to enhance recovery and improve quality of life. Cancer patients, for instance, often experience malnutrition as a result of their treatment, creating a higher demand for tailored parenteral nutrition solutions. Moreover, the growing geriatric population is susceptible to various health conditions that may impair their ability to ingest nutrients orally, further elevating the need for parenteral nutrition. The convenience and flexibility of home care settings for administering parenteral nutrition are also driving its uptake, as patients prefer receiving treatment in the comfort of their homes. Additionally, advancements in formulation technology, including the development of personalized nutrition solutions, are enhancing the effectiveness and safety of parenteral nutrition, attracting more healthcare providers to adopt these therapies. Increased awareness among healthcare professionals regarding the importance of nutrition in patient care is also contributing to the market's growth.

Key Highlights of the Market

• The global parenteral nutrition market is projected to reach USD 5.4 billion by 2035.
• North America is the largest market for parenteral nutrition, accounting for a significant portion of the market share.
• The segment of amino acids is expected to witness the highest growth rate in the product type category.
• Homecare settings are emerging as a prominent distribution channel due to the rising trend of at-home healthcare.
• There is a marked increase in investment towards R&D for developing innovative parenteral nutrition solutions tailored to specific patient needs.

By Product Type

Amino Acids :

Amino acids are critical components in parenteral nutrition, serving as the building blocks for protein synthesis in the body. They play a vital role in the maintenance and repair of body tissues, particularly in patients who are unable to consume food orally due to illness or surgery. The growing recognition of the importance of amino acids in maintaining muscle mass and supporting metabolic function is driving the demand in this segment. Furthermore, advancements in amino acid formulations, such as the introduction of branched-chain amino acids, are enhancing their efficacy and broadening their application in various patient populations. The increasing prevalence of conditions that lead to muscle wasting, such as cancer and chronic obstructive pulmonary disease (COPD), is further fueling the demand for amino acid-based parenteral nutrition solutions.

Lipid Emulsions :

Lipid emulsions are essential in parenteral nutrition as they provide a concentrated source of energy and essential fatty acids. They are particularly beneficial for patients who require high energy intake but have limited caloric consumption capabilities. The development of more sophisticated lipid emulsions, including those enriched with omega-3 fatty acids, is propelling growth in this segment, as healthcare providers look for ways to improve patient outcomes through enhanced nutrition. The rising incidence of metabolic disorders and the need for nutritional intervention in critically ill patients are also driving the demand for lipid emulsions. Furthermore, the shift towards personalized nutrition solutions has led to innovations in lipid emulsions, which is expected to boost their adoption in clinical practice.

Carbohydrates :

Carbohydrates play a significant role in parenteral nutrition as they are a primary source of energy needed for metabolic functions. The growing awareness of the importance of carbohydrate-based energy in the management of malnourished patients has contributed to the expansion of this segment. Dextrose is the most commonly used carbohydrate in parenteral nutrition, and its formulation has evolved to ensure optimal delivery and utilization by the body. Moreover, the increase in surgical procedures and critical care admissions has resulted in higher consumption of carbohydrate solutions to meet the energy demands of patients. Advances in carbohydrate formulations that enhance solubility and minimize adverse effects are expected to further drive market growth in this segment.

Trace Elements :

Trace elements are vital micronutrients necessary for various biochemical processes, and their inclusion in parenteral nutrition formulations is crucial for maintaining optimal health. These trace elements support immune function, wound healing, and overall metabolic processes, especially in patients with underlying nutritional deficiencies. The rising awareness of the role of trace elements in enhancing patient outcomes, particularly in critical care and surgical settings, is driving demand in this segment. Additionally, the increasing prevalence of gastrointestinal disorders, which often compromise nutrient absorption, is propelling the need for trace element supplementation in parenteral nutrition. Manufacturers are also focusing on developing formulations that optimize the stability and bioavailability of trace elements, further enhancing their application in clinical nutrition.

Vitamins :

Vitamins are essential components of parenteral nutrition, as they play critical roles in numerous metabolic processes, including energy production, immune function, and tissue repair. The increasing recognition of the importance of vitamin supplementation in patients receiving parenteral nutrition is driving growth in this segment. Vitamin deficiencies can lead to a range of health complications, making it imperative to include a comprehensive vitamin profile in parenteral nutrition formulations. The rising prevalence of conditions that affect nutrient absorption, such as gastrointestinal diseases and cancer, is further increasing the demand for vitamin-enriched parenteral nutrition products. Innovations in vitamin formulations, including the development of liposomal delivery systems that enhance absorption, are also expected to drive market expansion.

By Application

Cancer :

Cancer is one of the leading applications for parenteral nutrition, as patients undergoing treatment often experience significant weight loss and malnutrition due to the disease and its therapies. Parenteral nutrition provides a vital means of delivering essential nutrients in cases where oral intake is inadequate. The growing number of cancer diagnoses globally, coupled with the increasing focus on nutritional support during treatment, is driving the demand for specialized parenteral nutrition formulations tailored to oncology patients. Additionally, ongoing research into the role of nutrition in enhancing treatment efficacy and patient quality of life is further propelling the adoption of parenteral nutrition in cancer care.

Gastrointestinal Disorders :

Gastrointestinal disorders such as Crohn's disease, short bowel syndrome, and other malabsorption syndromes often necessitate the use of parenteral nutrition as patients may be unable to absorb sufficient nutrients through traditional means. This segment is experiencing substantial growth driven by the increasing incidence of gastrointestinal diseases, which are becoming more prevalent globally. The use of parenteral nutrition offers a lifeline to patients suffering from these conditions, providing essential nutrients while bypassing the digestive system. Healthcare providers are increasingly recognizing the benefits of parenteral nutrition for managing these disorders, leading to a rise in its application in clinical settings.

Short Bowel Syndrome :

Short bowel syndrome (SBS) is a serious condition resulting from the surgical removal of a significant portion of the small intestine, leading to malabsorption and nutritional deficiencies. Parenteral nutrition is often the primary means of nutritional support for patients with SBS, allowing them to obtain vital nutrients directly into the bloodstream. The heightened awareness of nutrition's role in managing SBS and the increasing number of surgeries related to bowel diseases are driving demand in this application segment. Advances in parenteral nutrition formulations, specifically designed for SBS patients, are expected to enhance patient outcomes and contribute to market growth.

Crohn's Disease :

Crohn's disease is a chronic inflammatory bowel disease that can lead to severe malnutrition due to symptoms such as diarrhea and abdominal pain, which may hinder oral intake. Parenteral nutrition is an effective solution for managing nutrition in Crohn's patients, as it bypasses the affected areas of the gastrointestinal tract. As awareness of the importance of nutritional support in managing Crohn's disease increases, the adoption of parenteral nutrition is rapidly growing. The rise in Crohn's disease diagnoses, particularly among younger populations, further contributes to the demand for parenteral nutrition solutions tailored to this condition.

Others :

In addition to the aforementioned applications, parenteral nutrition is utilized in various other medical conditions where nutritional support is necessary. These may include patients recovering from major surgeries, those with severe burns, and individuals experiencing prolonged illness. The versatility of parenteral nutrition allows it to be customized based on individual patient needs, making it an essential tool in critical care and postoperative management. The increasing focus on personalized medicine is expected to enhance the appeal of parenteral nutrition solutions in diverse patient populations, contributing to the growth of this segment.

By Distribution Channel

Hospitals :

Hospitals remain the primary distribution channel for parenteral nutrition products, owing to the high volume of patients requiring nutritional support in acute care settings. The hospital environment allows for the close monitoring of patients receiving parenteral nutrition, ensuring the safety and effectiveness of the therapy. With the rising incidence of chronic diseases and surgical procedures, the demand for parenteral nutrition within hospitals is expected to grow significantly. Additionally, hospitals are increasingly adopting standardized protocols for the administration of parenteral nutrition, improving patient outcomes and further driving market growth.

Clinics :

Clinics are becoming an important distribution channel for parenteral nutrition, particularly with the rise of outpatient care models. Many patients, especially those with chronic illnesses, are transitioning from hospital to clinic settings for their care, which includes nutritional support. The accessibility of parenteral nutrition solutions in clinics helps cater to the growing patient population requiring ongoing nutritional management. Furthermore, the convenience of receiving care in a clinic setting is attracting both patients and healthcare providers, leading to an increase in the adoption of parenteral nutrition solutions in this channel.

Homecare Settings :

The homecare setting is rapidly emerging as a vital distribution channel for parenteral nutrition, driven by patients' increasing preference for receiving treatment at home. This shift is particularly relevant for patients with chronic conditions who require long-term nutritional support. Advances in home healthcare technologies, including portable infusion pumps and user-friendly parenteral nutrition formulations, are facilitating the safe administration of nutrition at home. The growing trend of home healthcare is expected to further propel the demand for parenteral nutrition solutions, as it offers patients greater comfort, independence, and quality of life.

Retail Pharmacies :

Retail pharmacies are playing an increasingly significant role in the distribution of parenteral nutrition products, primarily through the provision of compounded solutions for patients requiring individualized nutritional support. The convenience of access to parenteral nutrition products in retail settings is appealing to patients and caregivers alike. Additionally, retail pharmacies often provide valuable resources and guidance on the proper use of these products, enhancing patient safety and adherence. As the demand for personalized parenteral nutrition solutions grows, retail pharmacies are likely to expand their offerings, contributing to market growth.

By Ingredient Type

Standard Parenteral Nutrition :

Standard parenteral nutrition formulations are designed to meet the basic nutritional needs of patients who cannot obtain adequate nutrients through oral intake. These formulations typically contain a balanced mix of carbohydrates, amino acids, fats, vitamins, and minerals, providing comprehensive nutritional support. The increasing prevalence of conditions requiring standard parenteral nutrition, such as cancer and gastrointestinal disorders, is driving demand in this segment. Additionally, standard formulations are continuously being refined to enhance their effectiveness and safety, ensuring optimal patient outcomes.

Individualized Parenteral Nutrition :

Individualized parenteral nutrition formulations are tailored specifically to meet the unique nutritional needs of individual patients, taking into account their specific medical conditions, metabolic requirements, and treatment goals. The growing emphasis on personalized medicine and the recognition of the importance of individualized nutrition in improving patient outcomes are driving the demand for this segment. Advances in clinical assessment tools and nutritional analysis are enabling healthcare providers to develop customized parenteral nutrition plans for patients. As more providers adopt personalized approaches to patient care, the market for individualized parenteral nutrition is expected to expand significantly.

By Region

The North American region dominates the parenteral nutrition market, accounting for a substantial share due to the high prevalence of chronic diseases and advanced healthcare infrastructure. This region is projected to grow at a CAGR of around 8.5% during the forecast period, driven by increasing investments in research and development, the rising adoption of home healthcare, and the growing geriatric population. The availability of a wide range of parenteral nutrition products and the presence of key market players further contribute to market growth in North America. The rising awareness regarding the significance of nutrition in patient recovery and the growing emphasis on personalized medicine are also expected to enhance the market landscape in this region.

Europe is the second-largest market for parenteral nutrition, driven by factors such as the increasing prevalence of gastrointestinal disorders and the growing number of surgical procedures. The region has a well-established healthcare system that supports the adoption of parenteral nutrition, particularly in hospital settings. The increasing focus on nutritional support in clinical guidelines and the rising demand for homecare solutions are further propelling market growth in Europe. Additionally, the Asia Pacific region is gaining momentum in the parenteral nutrition market, fueled by the increasing healthcare expenditure, rapid urbanization, and the growing awareness of the importance of nutritional care. As healthcare systems in countries like China and India continue to evolve, the demand for parenteral nutrition solutions is expected to rise significantly.

Opportunities

One of the significant opportunities in the parenteral nutrition market lies in the growing trend of home healthcare. As more patients prefer receiving medical care in the comfort of their homes, the demand for home-delivered parenteral nutrition products is expected to rise substantially. This shift is opening new avenues for companies to innovate and create user-friendly products that cater to the needs of patients and caregivers. Additionally, advancements in telehealth and remote monitoring technologies are enabling healthcare professionals to provide ongoing support and supervision to patients receiving nutritional therapy at home. This evolving landscape presents a lucrative opportunity for market players to expand their offerings and capture a larger share of the homecare segment.

Another opportunity for growth in the parenteral nutrition market is the increasing focus on research and development aimed at creating personalized nutrition solutions. With advancements in biotechnology and nutritional science, there is a growing potential to develop customized parenteral nutrition formulations that cater to the unique metabolic needs of different patient populations. This includes patients with specific genetic profiles, metabolic disorders, or differing nutritional requirements due to age or underlying health conditions. By investing in R&D to harness these opportunities, companies can differentiate their products and strengthen their market position in a competitive landscape.

Threats

One of the primary threats facing the parenteral nutrition market is the risk of complications associated with intravenous nutrition administration, such as infections or catheter-related complications. These risks can deter healthcare providers from opting for parenteral nutrition as a preferred treatment method, particularly in outpatient or homecare settings where monitoring may be less stringent. Additionally, regulatory challenges related to the approval and commercialization of parenteral nutrition products can create barriers for new entrants in the market. As regulatory scrutiny increases, companies may face lengthy approval processes that could hinder product launch timelines and impact overall market dynamics.

Moreover, the rising cost of parenteral nutrition formulations and the increasing pressure on healthcare budgets pose significant challenges to the market. Healthcare providers are becoming more cost-conscious, which may lead them to limit the use of parenteral nutrition in favor of more affordable treatment options. This trend could disrupt the growth of the parenteral nutrition market, particularly in regions with constrained healthcare funding. Additionally, the emergence of alternative nutritional interventions, such as enteral nutrition, may further challenge the market for parenteral nutrition products as providers and patients aim for less invasive and potentially safer options.

Competitor Outlook

• Abbott Laboratories
• Baxter International Inc.
• Fresenius Kabi AG
• Hospira, Inc. (a subsidiary of Pfizer Inc.)
• Danone S.A.
• McKesson Corporation
• Otsuka Pharmaceutical Co., Ltd.
• Nutricia (a subsidiary of Danone)
• Vifor Pharma AG
• Elekta AB
• Thermo Fisher Scientific Inc.
• Merck KGaA
• GlaxoSmithKline plc
• Alcresta Therapeutics, Inc.
• Amgen Inc.

The competitive landscape of the parenteral nutrition market is characterized by the presence of several established players who dominate the industry through extensive product portfolios and robust distribution networks. Key competitors like Abbott Laboratories and Baxter International Inc. leverage their strong research and development capabilities to introduce innovative parenteral nutrition solutions tailored to meet the specific needs of various patient populations. These companies invest heavily in clinical trials and partnerships with healthcare providers to ensure that their products align with best practices in nutritional management, thus enhancing their market position. Furthermore, strategic acquisitions and collaborations among players are becoming increasingly common as companies seek to expand their market reach and product offerings.

Fresenius Kabi AG, known for its extensive range of parenteral nutrition products, is actively engaging in expanding its global presence through strategic partnerships and growing its footprint in emerging markets. Additionally, companies like Danone S.A. and Nutricia are focusing on personalized nutrition solutions, catering to the unique needs of patients with specific medical conditions. The emphasis on customized formulations is becoming a key differentiator in the market, as healthcare providers and patients seek tailored approaches to nutritional support. As the demand for innovative and effective parenteral nutrition solutions continues to rise, competition is expected to intensify, prompting companies to enhance their product offerings and customer engagement strategies.

Additionally, players such as McKesson Corporation and Otsuka Pharmaceutical Co., Ltd. are focusing on market expansion through the development of comprehensive distribution channels, ensuring that their parenteral nutrition products are accessible to healthcare providers and patients. These companies are investing in supply chain optimization and logistics enhancements to improve the delivery of their products in both hospital and homecare settings. Furthermore, as the parenteral nutrition market continues to evolve with advancements in technology and an increasing focus on personalized medicine, companies that embrace innovation and sustainability will be well-positioned to capitalize on new growth opportunities that arise.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Elekta AB
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Amgen Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Merck KGaA
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Danone S.A.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Vifor Pharma AG
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Fresenius Kabi AG
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Abbott Laboratories
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 GlaxoSmithKline plc
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 McKesson Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Baxter International Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Alcresta Therapeutics, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Thermo Fisher Scientific Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Otsuka Pharmaceutical Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Nutricia (a subsidiary of Danone)
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Hospira, Inc. (a subsidiary of Pfizer Inc.)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Parenteral Nutrition Market, By Application
    • 6.1.1 Cancer
    • 6.1.2 Gastrointestinal Disorders
    • 6.1.3 Short Bowel Syndrome
    • 6.1.4 Crohn's Disease
    • 6.1.5 Others
  • 6.2 Parenteral Nutrition Market, By Product Type
    • 6.2.1 Amino Acids
    • 6.2.2 Lipid Emulsions
    • 6.2.3 Carbohydrates
    • 6.2.4 Trace Elements
    • 6.2.5 Vitamins
  • 6.3 Parenteral Nutrition Market, By Ingredient Type
    • 6.3.1 Standard Parenteral Nutrition
    • 6.3.2 Individualized Parenteral Nutrition
  • 6.4 Parenteral Nutrition Market, By Distribution Channel
    • 6.4.1 Hospitals
    • 6.4.2 Clinics
    • 6.4.3 Homecare Settings
    • 6.4.4 Retail Pharmacies

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Parenteral Nutrition Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Parenteral Nutrition market is categorized based on

By Product Type

• Amino Acids
• Lipid Emulsions
• Carbohydrates
• Trace Elements
• Vitamins

By Application

• Cancer
• Gastrointestinal Disorders
• Short Bowel Syndrome
• Crohn's Disease
• Others

By Distribution Channel

• Hospitals
• Clinics
• Homecare Settings
• Retail Pharmacies

By Ingredient Type

• Standard Parenteral Nutrition
• Individualized Parenteral Nutrition

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Abbott Laboratories
• Baxter International Inc.
• Fresenius Kabi AG
• Hospira, Inc. (a subsidiary of Pfizer Inc.)
• Danone S.A.
• McKesson Corporation
• Otsuka Pharmaceutical Co., Ltd.
• Nutricia (a subsidiary of Danone)
• Vifor Pharma AG
• Elekta AB
• Thermo Fisher Scientific Inc.
• Merck KGaA
• GlaxoSmithKline plc
• Alcresta Therapeutics, Inc.
• Amgen Inc.