Parenteral Nutrition Market expected to reach US$ 7 Billion by 2022-end, experiencing year on year increase of 16% compared to 2021. From 2022-2032-Fact.MR

Posted on 2023-07-27 by Fact.MR in Healthcare // 0 Comments

Rockville, United States, 2023-Jul-27— /EPR Network/ —

Introduction

Parenteral Nutrition Market

The market for parenteral nutrition accrued significant gains, being valued at over US$ 6 Billion as of 2021 The industry is expected to reach US$ 7 Billion by 2022-end, experiencing year on year increase of 16% compared to 2021. From 2022-2032, the industry is forecast to increase 2x to reach US$ 14 Billion.

Parenteral nutrition (PN), also known as intravenous or IV nutrition, is a life-saving therapy designed to provide essential nutrients directly into the bloodstream when a person cannot consume food orally or absorb nutrients through the gastrointestinal tract. This therapy is crucial for patients with severe malnutrition, those recovering from surgery, or those suffering from chronic medical conditions. The parenteral nutrition market has witnessed significant growth in recent years due to the rising prevalence of chronic diseases and an aging population. This article will explore the current state of the parenteral nutrition market, key drivers and challenges, competitive landscape, and future prospects.

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Market Overview

The global parenteral nutrition market has experienced steady growth in the past decade. Factors driving this growth include the increasing incidence of chronic diseases such as cancer, gastrointestinal disorders, and metabolic diseases, as well as the rise in premature births and geriatric populations. Additionally, advancements in medical technology and pharmaceuticals have contributed to the development of specialized parenteral nutrition formulations, driving market expansion further.

Key Drivers

Growing Prevalence of Chronic Diseases: Chronic diseases like cancer, Crohn’s disease, and malabsorption disorders often lead to significant nutrient deficiencies, making parenteral nutrition an essential therapeutic option for patients unable to consume food orally.

Aging Population: The world’s population is aging rapidly, leading to an increased number of elderly individuals with higher susceptibility to chronic conditions and malnutrition, thereby bolstering the demand for parenteral nutrition products.

Rising Preterm Births: The incidence of preterm births has been on the rise, and premature infants require precise nutrition to support their growth and development, fostering demand for parenteral nutrition in neonatal care units.

Technological Advancements: Advances in pharmaceutical formulations, parenteral nutrition delivery systems, and improved safety measures have facilitated the adoption of PN therapies in various healthcare settings.

Key Players and Competitive Landscape

Allergan Plc.
Baxter International
Vifor Pharma Group
Grifols S.A
Otsuka Pharmaceutical Co. Ltd.
Fresenius Kabi
Braun Melsungen AG
Pfizer Inc.
Sichuan Kelun Pharmaceutical Co. Ltd.
Actavis Inc.

Challenges

Infections and Complications: Parenteral nutrition, if not administered properly, can lead to complications such as infections, metabolic imbalances, and liver dysfunction, posing a challenge for healthcare providers.

High Cost: Parenteral nutrition is a complex therapy that requires specialized equipment and expertise, making it a costly option compared to enteral nutrition (feeding through the gastrointestinal tract).

Limited Availability: In some regions, especially low-resource areas, access to parenteral nutrition products and expertise might be limited, hindering patients from receiving this vital therapy.

Competitive Landscape

The parenteral nutrition market is highly competitive, with numerous established players and emerging companies vying for market share. Some of the key companies dominating the market include Baxter International Inc., Fresenius Kabi AG, B. Braun Melsungen AG, and Pfizer Inc. These companies focus on research and development to introduce innovative products, expanding their product portfolios to cater to a diverse range of patient needs.

Regional Outlook

North America and Europe currently hold significant shares in the global parenteral nutrition market due to well-established healthcare infrastructure, high awareness about advanced therapies, and a large patient pool. Asia-Pacific is expected to exhibit substantial growth in the coming years, driven by increasing healthcare expenditure, a rising geriatric population, and improving access to healthcare facilities in developing countries.

Future Prospects

The future of the parenteral nutrition market looks promising, with several factors likely to drive growth:

Technological Advancements: Continued advancements in technology, such as improved parenteral nutrition delivery systems and innovative formulations, will enhance patient safety and treatment outcomes.

Increased Focus on Clinical Nutrition: With a growing understanding of the importance of clinical nutrition in disease management and recovery, healthcare providers are likely to prioritize parenteral nutrition as a critical therapy option.

Personalized Nutrition Solutions: Tailored parenteral nutrition solutions for individual patient needs, based on genetic and metabolic profiles, may become more prevalent, leading to better treatment outcomes and reduced complications.

Expansion in Emerging Markets: As healthcare infrastructure improves in emerging markets, there will be greater demand for parenteral nutrition products and services, presenting opportunities for market expansion.

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Conclusion

The parenteral nutrition market has witnessed significant growth in recent years, driven by the increasing prevalence of chronic diseases, an aging population, and rising preterm births. The market’s future looks promising, with technological advancements, increased focus on clinical nutrition, and personalized solutions expected to drive further growth. However, challenges such as infections, high costs, and limited availability must be addressed to ensure that parenteral nutrition continues to play a crucial role in patient care and treatment outcomes worldwide.

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