Parenteral Nutrition Market Introduction

Parenteral nutrition is a method of feeding a person through their veins, bypassing the digestive system. It is used when a person cannot or should not receive nutrition through the digestive system, such as in cases of severe malnutrition, gastrointestinal disorders, or cancer. Parenteral nutrition is a form of intravenous therapy that provides nutrients, such as carbohydrates, proteins, fats, electrolytes, and vitamins, directly into the bloodstream. It can be administered in hospitals, home care settings, or other medical facilities. The parenteral nutrition market includes products such as amino acids, carbohydrates, lipids, vitamins, and trace elements that are used for parenteral nutrition therapy.

Parenteral Nutrition Market Size

The global parenteral nutrition market size was valued at USD 5.0 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028. The increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, and neurological disorders, coupled with the growing aging population, is driving the demand for parenteral nutrition products. In addition, the increasing number of hospital admissions, particularly in intensive care units, is also expected to drive the growth of the parenteral nutrition market.

Parenteral Nutrition Market Share

The parenteral nutrition market is highly fragmented, with several players operating in the global market. Some of the key players in the market include B. Braun Melsungen AG, Baxter International Inc., Grifols S.A., Fresenius Kabi AG, and Pfizer Inc., among others. These companies are focusing on product innovation and development, mergers and acquisitions, partnerships and collaborations, and expanding their geographic presence to gain a larger market share.North America accounted for the largest share of the parenteral nutrition market in 2020, followed by Europe and Asia Pacific. This can be attributed to the increasing prevalence of chronic diseases and the growing aging population in these regions. In addition, the high adoption rate of advanced healthcare technologies, well-established healthcare infrastructure, and increasing healthcare expenditure are also driving the growth of the parenteral nutrition market in North America and Europe. The Asia Pacific region is expected to witness significant growth in the coming years, driven by the increasing demand for parenteral nutrition products, rising healthcare expenditure, and growing awareness among patients regarding the benefits of parenteral nutrition therapy.

Parenteral Nutrition Market Trends

Here are some of the current trends in the Parenteral Nutrition market:

1. Growing prevalence of chronic diseases: The increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, and liver failure is driving the demand for parenteral nutrition. Parenteral nutrition is essential for patients who cannot consume food orally or those with impaired digestive systems.
2. Technological advancements: The parenteral nutrition market is witnessing significant technological advancements, such as the development of advanced delivery systems, which are more efficient and safer than traditional methods. These advancements are expected to increase the demand for parenteral nutrition products.
3. Rising demand for home parenteral nutrition: With the increasing preference for home-based care, the demand for home parenteral nutrition is on the rise. Home parenteral nutrition provides patients with the flexibility to receive treatment in the comfort of their homes, thus improving their quality of life.
4. Increasing geriatric population: The global geriatric population is increasing rapidly, and this demographic is more susceptible to chronic diseases that require parenteral nutrition. As a result, the demand for parenteral nutrition products is expected to increase significantly in the coming years.
5. Shift towards customized parenteral nutrition: There is a growing trend towards customized parenteral nutrition, which is tailored to meet the specific nutritional requirements of individual patients. Customized parenteral nutrition has been shown to improve patient outcomes and reduce complications.

Overall, the parenteral nutrition market is expected to grow significantly in the coming years, driven by the factors mentioned above. However, regulatory pressures and the emergence of alternative therapies may impact the growth of the market in some regions.

Parenteral Nutrition Market Driving Factors

The parenteral nutrition market is driven by several factors, including:

1. Growing prevalence of chronic diseases: The increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, and liver failure is one of the major driving factors of the parenteral nutrition market. Parenteral nutrition is essential for patients who cannot consume food orally or those with impaired digestive systems.
2. Technological advancements: The parenteral nutrition market is witnessing significant technological advancements, such as the development of advanced delivery systems, which are more efficient and safer than traditional methods. These advancements are expected to increase the demand for parenteral nutrition products.
3. Increasing geriatric population: The global geriatric population is increasing rapidly, and this demographic is more susceptible to chronic diseases that require parenteral nutrition. As a result, the demand for parenteral nutrition products is expected to increase significantly in the coming years.
4. Rising demand for home parenteral nutrition: With the increasing preference for home-based care, the demand for home parenteral nutrition is on the rise. Home parenteral nutrition provides patients with the flexibility to receive treatment in the comfort of their homes, thus improving their quality of life.
5. Focus on patient outcomes: There is a growing focus on patient outcomes, with healthcare providers looking for ways to improve patient outcomes and reduce the length of hospital stays. Parenteral nutrition has been shown to improve patient outcomes and reduce the risk of complications, making it an attractive treatment option.

Overall, these factors are expected to drive the growth of the parenteral nutrition market in the coming years. However, regulatory pressures and the emergence of alternative therapies may impact the growth of the market in some regions.

Parenteral Nutrition Market Regional Analysis

The global parenteral nutrition market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.North America accounted for the largest share of the parenteral nutrition market in 2020, primarily due to the high prevalence of chronic diseases such as cancer, gastrointestinal disorders, and neurological disorders in the region. In addition, the presence of well-established healthcare infrastructure and increasing healthcare expenditure are also driving the growth of the parenteral nutrition market in North America.Europe is the second-largest market for parenteral nutrition, with countries such as Germany, France, and the UK being the major contributors to the market growth. The increasing geriatric population and the rising incidence of chronic diseases in the region are driving the demand for parenteral nutrition products.The Asia Pacific region is expected to witness significant growth in the coming years, primarily due to the increasing demand for parenteral nutrition products, rising healthcare expenditure, and growing awareness among patients regarding the benefits of parenteral nutrition therapy. Moreover, the increasing geriatric population, rising incidence of chronic diseases, and improving healthcare infrastructure are also contributing to the growth of the parenteral nutrition market in the Asia Pacific region.Latin America and Middle East & Africa are also expected to witness significant growth in the coming years, driven by the increasing prevalence of chronic diseases and the growing aging population in these regions. However, the market growth in these regions may be limited by factors such as low healthcare expenditure and poor healthcare infrastructure in some countries.

Parenteral Nutrition Market Forecasts 2030 

The global parenteral nutrition market is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028. By the end of 2030, the market size is expected to reach USD 8.6 billion.The increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, and neurological disorders, coupled with the growing aging population, is expected to drive the demand for parenteral nutrition products in the coming years. The home care segment is also expected to grow rapidly, as more patients prefer to receive parenteral nutrition therapy in the comfort of their own homes.Moreover, the COVID-19 pandemic has further fueled the demand for parenteral nutrition products, particularly in critically ill patients who are unable to tolerate oral or enteral feeding. The pandemic has also highlighted the importance of maintaining adequate nutrition in patients, thereby driving the demand for parenteral nutrition products.In terms of geographic regions, the Asia Pacific region is expected to witness the highest growth during the forecast period, driven by the increasing demand for parenteral nutrition products, rising healthcare expenditure, and growing awareness among patients regarding the benefits of parenteral nutrition therapy.

Parenteral Nutrition Market Key Industry Players

Some of the key players operating in the global parenteral nutrition market include:

1. Baxter International Inc.
2. B. Braun Melsungen AG
3. Fresenius Kabi AG
4. Pfizer Inc.
5. Grifols S.A.
6. Sichuan Kelun Pharmaceutical Co., Ltd.
7. Otsuka Pharmaceutical Co., Ltd.
8. Claris Lifesciences Limited
9. Allergan plc
10. Vifor Pharma Management Ltd.

These companies are focusing on strategic collaborations, partnerships, and acquisitions to expand their product offerings and strengthen their market position. They are also investing in research and development activities to develop innovative and advanced parenteral nutrition products. For example, in 2020, Baxter International Inc. launched a new parenteral nutrition formulation, Clinimix E, which is designed to meet the unique needs of pediatric patients with low body weight.