The ‘Global Parenteral Nutrition Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global parenteral nutrition market, assessing the market on the basis of its segments like nutrient type, end-use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Parenteral Nutrition Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 6.32 billion
- Forecast CAGR (2023-2028): 60%
- Forecast Market Size (2028): USD 9.36 billion
The rapidly expanding geriatric population and birth rate, as well as the rising prevalence of chronic diseases, including cancer and malnutrition, are the key factors driving the parenteral nutrition market growth. The prevalence of metabolic disorders such as obesity, hypertension, and diabetes, and conditions such as renal insufficiency, hepatic insufficiency, and protein-energy malnutrition cases, are leading to an increase in the use of parenteral nutrition.
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Parenteral nutrition (PN) offers numerous advantages, including easy use, increased stomach blood flow, effective nutrient delivery, and protection against muscle catabolism. A greater understanding of these advantages is likely to raise consumer demand for (PN), bolstering the market for parenteral nutrition. Many initiatives have been launched to improve health and social care, including educational campaigns about health awareness that have a special emphasis on nutrition.
The creation of improved product formulations is another driver fuelling the expansion of the parenteral nutrition market. Major players are heavily investing in research and development activities for the purpose of developing cutting-edge parenteral nutrition formulations that are specifically suited to the needs of patients. Prominent market participants are emphasising strategic alliances, new product launches, and collaborations for corporate growth.
Parenteral Nutrition Industry Definition and Major Segments
Parenteral nutrition, medically known as intravenous feeding, is a method of nourishing the body by administering nutrients intravenously. It is typically used when eating or absorbing nutrients through the digestive system is difficult or not suitable. Parenteral nutrition is frequently utilised for a variety of medical conditions, such as malabsorption syndrome, acute pancreatitis, and gastrointestinal obstruction.
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Based on nutrient type, the market is categorised into:
- Parenteral Lipid Emulsion
- Single-Dose Amino Acid Solution
- Trace Elements
- Vitamins and Minerals
On the basis of end use, the market is segmented into:
Based on region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Parenteral Nutrition Market Trends
The key trends driving the demand for parenteral nutrition market globally are the include the increasing prevalence of malnutrition and rising premature birth rates. In addition, the number of people suffering from paediatric diseases such as anaemia, leukaemia, bronchitis, chickenpox, and asthma has significantly increased. Factors such as shorter hospital stays, a growing preference for parenteral nutrition over enteral nutrition, the development of technologically sophisticated parenteral nutrition products with barcode assistance, and decreased risk of infection are expected to drive the growth of the PN market.
The parenteral nutrition market is expected to grow as a result of the rise in childhood malnutrition, especially in rising and developing nations around the world. Furthermore, due to the necessity of parenteral nutrition for the proper balancing of amino acids, lipids, vitamins, minerals, and other nutrients, the market would have promising growth prospects.
Regionally, North America accounts for a sizable share of the market for parenteral nutrition, driven by the well-established healthcare infrastructure in countries such as the United States, rising geriatric rates, and increasing premature births. The availability of technologically advanced equipment for parenteral nutrition and increasing demand for parenteral nutrition in home care settings are further augmenting the growth of the PN market in North America.
Key Market Players
The major players in the global parenteral nutrition market report are B. Braun SE, Fresenius Kabi, GRIFOLS, S.A., Baxter International, Inc, Otsuka Pharmaceutical Factory, Inc., Kelun, Libang HealthCare Group, and Orbisana Healthcare GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.