The Parenteral Nutrition Market involves the administration of nutritional requirements intravenously. This involves delivering essential nutrients such as carbohydrates, proteins, vitamins, minerals, and other additives directly into the circulatory system through an intravenous or central line.
Parenteral nutrition is commonly used when inadequate oral intake, non-functional gastrointestinal tract or high nutritional needs can't be met by oral route alone. It provides a practical and medically appropriate alternative for delivering nutrition to patients. The most common patient population requiring parenteral nutrition includes newborns, cancer patients, patients with intestinal failure or malabsorption, poorly functioning GI tract due to trauma or post-surgical complications.
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.
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 increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders which harm the ability to digest and absorb nutrients through oral intake is a major factor boosting the Parenteral Nutrition Market Demand. This has led to increasing adoption of parenteral nutrition across homecare settings and hospitals. Geographically, North America dominates the Parenteral Nutrition Market due to increased healthcare expenditures and rising incidence of chronic diseases. However, Asia Pacific region is expected to grow at fastest CAGR due to rising geriatric population, increasing awareness and improved healthcare infrastructure.
Market drivers
The increasing incidence of chronic diseases like cancer poses a key growth driver for the global Parenteral Nutrition Market. Cancer patients undergoing chemotherapy or radiation therapy often experience side effects that impair normal digestive functioning. This necessitates nutritional support through intravenous routes. Furthermore, rise in preterm births has led to increase in low birth weight babies needing parental nutrition for meeting their metabolic requirements. Extended hospital stays coupled with increasing preference for intravenous feeding that ensures regulated nutrient delivery proportionate to the body's needs further propel the market growth. Growing prevalence of intestinal failure and short bowel syndrome are expected to fuel the demand for parenteral nutrition over the forecast period.
The current geopolitical situation is negatively impacting the growth of the Parenteral Nutrition Market. Due to the ongoing conflicts and sanctions imposed over the past year, availability of key raw materials and components used in parenteral nutrition solutions has become highly unpredictable for manufacturers operating across borders. This uncertainty in raw material supplies is forcing companies to look for alternate sourcing options and supply chain networks, diverting investments away from product innovations and market expansions. On the demand side, the economic downturn resulting from geopolitical risks has reduced discretionary healthcare spending in many parts of the world. This will decrease demand for specialized medical nutrition products in the coming years.
To sustain growth amid geopolitical challenges, companies in the Parenteral Nutrition Market need to diversify their supply networks beyond politically volatile regions and establish local sourcing hubs close to manufacturing locations. They also need to explore new raw material substitution opportunities and improve formula versatility to reduce dependency on limited ingredient sources. On the marketing front, emphasis needs to shift towards value-added products that address specific health conditions, thus justifying premium pricing even during economic slowdowns. Partnerships with local hospitals and nutrition support programs can boost stable demand and revenues for players.
Geographically, Europe accounts for the largest value share in the Parenteral Nutrition Market due to the rising prevalence of chronic diseases, expanding geriatric population, and growing adoption of parenteral nutrition therapy. North America is the second largest regional market driven by a favorable reimbursement structure for home parenteral nutrition in countries such as the U.S. However, Asia Pacific region is expected to witness the fastest CAGR growth during the forecast period owing to increasing healthcare investments, rising medical tourism, growing incidence of premature births and malnutrition, and expandingpatient pool of cancer and gastrointestinal disorders in developing countries such as India and China.
The Parenteral Nutrition Market in Latin American countries such as Brazil, Mexico, Argentina presents high growth potential given the rising healthcare access and expenditures in the region along with growing prevalence of chronic lifestyle diseases. However, geopolitical and economic instability continue to hinder market growth to some extent in Latin America. Africa, Middle East and other developing regions will also witness steady rise in demand for parenteral nutrition solutions due to improving diagnosis rates and expanding healthcare infrastructure across major countries over the coming years.
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