The Global Parenteral Nutrition Market is estimated to be valued at US$ 4,548.7 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 To 2031.
Parenteral nutrition involves delivering nutritional requirements directly into the bloodstream, bypassing the gastrointestinal tract. It is used for patients who cannot maintain adequate nutritional intake through oral or enteral feeding. Common conditions requiring parenteral nutrition include gastrointestinal tract obstruction or surgery, impaired absorption caused by short bowel syndrome, chronic intestinal pseudo-obstruction and severe inflammatory bowel disease. Parenteral nutrition helps ensure critically ill patients receive energy, proteins, fats, vitamins and minerals they need. With the growing prevalence of malnutrition globally, parenteral nutrition continues gaining traction.
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., and Sanofi.
Rising prevalence of chronic diseases and critical care conditions requiring parenteral support is expected to drive the Parenteral Nutrition Market Demand. It is estimated that around 2 billion people globally suffer from micronutrient deficiencies and malnutrition. With growing aging population and changing disease patterns, demand for parenteral nutrition from hospitals and home care settings will increase.
Technological advancements are also fueling Parenteral Nutrition Market growth. Companies are developing novel infusion systems and formulations to deliver balanced nutritional regimens. For example, multi-chamber bags are now available that separate ingredients to maintain stability and sterility before mixing. This ensures optimal and safe delivery of customized nutrient mixes.
Market Trends
Some key trends in the Parenteral Nutrition Market include growing preference for home parenteral nutrition and increased adoption of organic and amino acid based formulations. With advantages like cost savings and improved quality of life, home parenteral nutrition is emerging as an attractive option. Meanwhile, manufacturers are investing in organic and amino acid based parenteral formulas that mimic natural metabolic pathways more closely to enhance tolerance and effectiveness.
Market Opportunities
Major opportunities in the Parenteral Nutrition Market involve development of next-gen infusion technologies and virtual nutrient deliveries. Companies are working on smart pumps integrated with electronic medical records for automated dosage control. There is also scope for AI and IoT enabled virtual systems that can continuously monitor patient’s biochemical parameters and customize nutrient inputs accordingly without human intervention. Personalized parenteral nutrition tailored to individual metabolic needs and delivered via non-invasive virtual means can optimize outcomes.
Impact of COVID-19 on Parenteral Nutrition Market Growth
The COVID-19 pandemic has significantly impacted the growth of the Parenteral Nutrition Market. During the initial outbreak, the demand increased sharply as many infected patients required prolonged hospitalization and intravenous feeding support. However, postponement of elective surgeries to avoid strain on healthcare systems led to short-term decline in demand. With resumption of elective procedures, the market is gradually recovering. However, long-term effects of COVID-19 like malnutrition in recovered patients and increased incidence of chronic diseases are expected to drive continued need for parenteral nutrition solutions in the long run.
North America is currently the largest and fastest growing regional market for parenteral nutrition. The US accounts for the major share due to high healthcare spending and rising prevalence of chronic diseases. Growing burden of gastrointestinal disorders, cancer and premature births also contribute to market growth. Hospitalizations during pandemic further augmented demand from the US and Canada. Asia Pacific is projected to witness highest growth during the forecast period led by India and China. Rising incomes, growing medical tourism and establishment of advanced healthcare facilities are factors fueling parenteral nutrition adoption in the Asia Pacific region.
Europe presently captures a significant share of the global Parenteral Nutrition Market. This is attributable to rising geriatric population, increasing incidence of malnutrition as well as developed healthcare expenditures across major countries like Germany, France and the UK. The market is also witnessing steady expansion in Latin America and Middle East & Africa driven by improving access to specialty nutrition therapies and economic development of healthcare sectors. However, high product costs associated with parenteral feeding remain a key restraint to market growth in underdeveloped regions.
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