by The parenteral nutrition market caters to the provision of liquid nutritional support directly into the veins. It involves administering supplementation by injecting or intravenously infusing a nutrient solution into the bloodstream when oral or enteral nutrition is not possible, is insufficient, or is contraindicated. Parents nutrition is crucial for individuals requiring tube feeding or unable to consume sufficient nutrients through diet alone, including cancer patients, surgical patients, preterm infants, and those with gastrointestinal tract illnesses or disorders preventing normal digestion. The parenteral nutrition market offers solutions comprising hypertonic glucoses, amino acid solutions, soybean oil emulsions, fat emulsions, trace minerals and vitamins for catering to individual nutritional needs. It delivers balanced nutrition to help meet daily calorie, protein, fluid and micronutrient requirements while avoiding complications of malnutrition.
The global parenteral nutrition market was valued US$ 4,548.7 Mn in 2023 and is expected to reach US$ 7,251 Mn by 2031 growing at a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
Key Takeaways
Key players operating in the parenteral nutrition market are AbbVie Inc., Danone, Fresenius Kabi AG, GENTAG, Inc., GSK plc., Nestlé SA, Nutricia, Sun Pharmaceutical Industries Ltd, Pfizer Inc., Sanofi, Otsuka Holdings Co., Ltd., and Otsuka Holdings Co., Ltd.
The key opportunities in the parenteral nutrition market include a surge in preterm birth rates worldwide necessitating intensive care support for neonatal nutrition, rising cases of malnourishment among cancer patients undergoing chemotherapy or radiotherapy, and growing pool of older adults prone to chronic diseases affecting digestion.
On the global front, emerging Asian economies are witnessing an upsurge in healthcare expenditure helping improve access to advanced Parenteral Nutrition Market Demand therapies. Moreover, initiatives by governments and non-profit organizations promoting awareness about malnutrition management present potential growth prospects.
Market drivers
A key driver for the parenteral nutrition market is the increasing incidence rates of premature births necessitating intensive care for newborns. According to the World Health Organization, an estimated 15 million babies are born preterm annually, accounting for more than 1 in 10 deliveries globally. Parenteral Nutrition Companies offers crucial early life sustenance for preemies unable to feed normally. This will significantly spur demand over the forecast period.
PEST Analysis
Political: The government policies and regulations plays a major role in determining the demand and supply of parenteral nutrition products. Favorable initiatives to promote parenteral nutrition will positively impact the market growth.
Economic: Increasing healthcare spending capacity and economic growth in emerging regions is fueling the demand for advanced and costly healthcare treatments like parenteral nutrition. High cost of parenteral nutrition can restrain the market in price sensitive regions.
Social: Rising malnutrition and chronic diseases prevalence is increasing the need for parenteral nutrition globally. Growing awareness about the benefits of parenteral nutrition can further drive its demand.
Technological: Manufacturers are focusing on developing novel formulations and advanced delivery methods to make parenteral nutrition more effective and convenient. Miniaturization of components is helping to develop portable parenteral nutrition systems.
The market in terms of value is concentrated majorly in North America and Europe regions. North America alone accounts for more than 35% of the global parenteral nutrition market value owing to highly developed healthcare infrastructure and rising chronic diseases burden. Europe is the second largest regional market supported by favorable reimbursement policies and government support for parenteral nutrition.
Asia Pacific region is poised to showcase the fastest growth during the forecast period in the parenteral nutrition market. Factors such as increasing healthcare expenditure, growing awareness, rising malnutrition, and improving healthcare facilities are driving the parenteral nutrition demand in Asia Pacific countries. China and India offer huge growth potential for parenteral nutrition market players due to presence of large patient pool and developing pharmaceutical industry in these nations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
