According to IMARC Group latest report titled “Parenteral Nutrition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on parenteral nutrition market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global parenteral nutrition market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.
Parenteral nutrition (PN) refers to the process of feeding nutritional products, such as proteins, carbohydrates, fats, minerals, and vitamins, to individuals who are unable to intake the required nutrition orally. It involves sterilized liquid natural formula that is given to the patient directly through the veins with the help of an intravenous tube or administered peripherally or centrally through the superior vena cava. The composition of the PN solution is carefully balanced depending on the specific nutritional requirement of the patient. It aids in preventing malnutrition and maintaining energy, hydration, and strength levels among individuals. As a result, it is widely used to treat patients who are suffering from cancer, Crohn’s disease, short bowel syndrome, ischemic bowel disease, and abnormal bowel function.
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Market Trends:
The increasing prevalence of chronic diseases among the masses is driving the global market. Along with this, the rising number of premature births and the scarcity of essential nutrients in premature infants and newborns are contributing to the demand across the globe. Moreover, continuous improvements in the PN method, such as lipid emulsions optimizations and utilization of indirect calorimetry, are providing a boost to the market. In line with this, the development of new drugs by key players and approval of novel parenteral nutrition components are acting as other growth-inducing factors. Furthermore, the growing initiatives by governments to promote nutritional awareness among the masses are impacting the market favorably. Other factors, including continuous improvements in healthcare infrastructure, and the increasing frequency of malnutrition among children, are also influencing the market.
One of the key drivers of the parenteral nutrition market is the development of advanced parenteral nutrition products. The introduction of amino acid-based parenteral nutrition products has improved the safety and efficacy of parenteral nutrition. These products are less likely to cause adverse events such as hepatic dysfunction and metabolic abnormalities. Furthermore, the development of 3-in-1 parenteral nutrition products, which contain all the essential nutrients, has simplified the administration of parenteral nutrition and reduced the risk of complications.
In conclusion, the parenteral nutrition market is expected to grow at a steady pace in the coming years, driven by the increasing incidence of chronic diseases and the development of advanced parenteral nutrition products. The growing geriatric population and the increasing availability of parenteral nutrition products are also contributing to the growth of the market. The market is highly competitive, with several key players competing for market share.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Aculife Healthcare Private Limited
- Braun Melsungen AG
- Baxter International Inc.
- Fresenius SE & Co. KGaA
- Grifols S.A.
- Otsuka Pharmaceutical Factory Inc.
- Pfizer Inc.
- Servona GmbH
Parenteral Nutrition Market Segmentation:
Our report has categorized the market based on region, nutrient type and end use.
Breakup by Nutrient Type:
- Carbohydrates
- Lipid Emulsion
- Single Dose Amino Acid Solution
- Trace Elements
- Vitamins and Minerals
Breakup by End User:
- Hospitals
- Clinics
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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