Parenteral Nutrition - Market Insights, Competitive Landscape, and Market Forecast - 2030

Parenteral Nutrition Market By Nutrient Type (Carbohydrates, Parenteral Lipid Emulsion, Single-Dose Amino Acid Solution, Trace Elements, And Vitamins & Minerals), By End-User (Children & Newborns, And Adults), and by geography is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing prevalence of malnutrition across the globe and the increasing initiatives by public and private companies to create awareness regarding the malnutrition and parenteral nutrition

The global parenteral nutrition market was valued at USD 6,084.35 million in 2022 and is likely to register a CAGR of 6.04% during the forecast period from 2024 to 2030 to reach USD 8,614.69 million by 2030. The parenteral nutrition market is observing substantial market growth primarily owing to the increasing prevalence of malnutrition among children. Moreover, the rising number of premature births ultimately leading to malnutrition will also aid in propelling the market of parenteral nutrition during the forthcoming years. Furthermore, the rising government initiatives and issuance of new guidelines for parenteral nutrition, increasing prevalence of various metabolic & chronic conditions such as cancers, diabetes, obesity, and others, will in turn support the increasing demand for parenteral nutrition during the forecast period. Additionally, the increasing research & developmental activities along with the surging approvals and launches of parenteral nutrition solutions and related devices, the presence of key players in the market, and other factors will create a requisite for parenteral nutrition in the market. Therefore, the market for parenteral nutrition is estimated to grow at a substantial CAGR during the forecast period from 2024 to 2030.

Parenteral Nutrition Market Dynamics:

One of the key aspects driving the parenteral nutrition market is the rising prevalence of malnutrition across the globe. For instance, as per the World Health Organization (WHO) 2022, in 2020, 149 million children under 5 were estimated to be stunted (too short for age), 45 million were estimated to be wasted (too thin for height), and 38.9 million were overweight or obese, globally. Moreover, around 45% of deaths among children under 5 years of age are linked to undernutrition or malnutrition. Undernutrition puts children at greater risk of dying from common infections, increases the frequency and severity of such infections, and delays recovery.

Further, the UNICEF 2022 report stated that in 2020 globally, 45.4 million children under five were wasted of which 13.6 million were severely wasted. This translates into a prevalence of 6.7 percent and 2.0 percent, respectively. In 2020, more than half of all children affected by wasting lived in South Asia and nearly one-quarter in sub-Saharan Africa, with similar proportions for children affected by severe wasting. At 14.7 percent, South Asia's wasting prevalence represents a situation requiring a serious need for intervention with appropriate treatment programs.

Thus, the above sources state that the prevalence of undernutrition or malnutrition is high across the different regions of the world, which can be cured by providing nutrition through parenteral routes, thereby leading to an increased demand for parenteral nutrition during the forecast period.

Moreover, as per the WHO 2022, an estimated 15 million babies are born prematurely every year which is more than 1 in 10 babies. Also, approximately 1 million children die each year due to complications of preterm birth. Parenteral nutrition must be initiated as soon as possible after delivery in very low birth weight (VLBW) preterm infants to prevent postnatal growth failure and improve neurodevelopmental outcomes. Thus, the increasing number of preterm delivery will ultimately increase the demand for parenteral nutrition, propelling market growth to unprecedented heights during the forecast period.

Additionally, the growing research and developmental activities, expanding product launches and approvals around the world, presence of a robust number of parenteral nutrition solutions in the pipeline, and strategic activities by the key players to increase the manufacturing and research of the parenteral nutrition will, in turn, bolster the market of parenteral nutrition. For instance, in February 2022, Fresenius Kabi, a global healthcare company, announced its plans to expand its Austrian facilities. The company will invest more than US$ 69.4 million through 2023 to expand capacity and upgrade infrastructure at its production plant in Graz and the packaging center nearby Werndorf, Europe.

Therefore, the factors stated above collectively will drive the overall parenteral nutrition market during the forecast period from 2024-2030.

However, lack of awareness regarding nutrition, stringent approval process, and others may prove to be challenging factors for parenteral nutrition market growth.

The parenteral nutrition market was moderately impacted during the period of COVID- 19 pandemic. During the initial stage of the pandemic, the sale of parenteral nutrition suffered a collapse owing to the imposition of strict lockdown rules, and disruption in manufacturing, and supply. Moreover, owing to the lockdown restrictions, halt in resources and supply chain, and the decreasing number of hospitalization visits for patients for the diagnosis & treatment of chronic diseases to curb the spread of infection, the demand for parenteral nutrition decreases. However, parenteral nutrition played an integral part in the treatment of severe or critical COVID-19 patients by providing all the necessary nutrition through parenteral routes. Additionally, owing to the imposition of the lockdown many low-economic groups suffered from starvation and undernutrition, ultimately increasing the demand for parenteral nutrition. Also, the regulatory authorities were continuously updating the guidelines for the mode of providing nutrition to COVID-19 patients. For instance, in March 2020, the Republic of Kenya Ministry of Health released some guidelines on nutrition management for COVID-19 for health workers in COVID-19 treatment and isolation centers. Henceforth, owing to the above factors the demand for parenteral nutrition increased during the pandemic and is anticipated to do the same during the forecast period (2022 - 2028).

Parenteral Nutrition Market Segment Analysis:

Parenteral Nutrition Market by Nutrient Type (Carbohydrates, Parenteral Lipid Emulsion, Single-Dose Amino Acid Solution, Trace Elements, and Vitamins & Minerals), End-user (Children & Newborns and Adults), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the nutrient type segment of the parenteral nutrition market, the single-dose amino acid solution is expected to have a significant revenue share in the year 2023. This was primarily owing to the rising demand and availability of single-dose amino acids in the market. Moreover, growing launches and strategic investments, and other activities relating to the segment single dose amino acids by key players in the market, and other factors will in turn be responsible for the surged demand for single-dose amino acids.

For instance, amino acids are highly used as a source of energy owing to their capability to treat mental fatigue, sprain, and muscle soreness among others. The single dose amino acids are used in the dietary management of inherited metabolic diseases providing specific amounts of amino acids that are unable to be achieved by dietary modification alone.

Moreover, single-dose amino acids are a range of pre-measured single-dose amino acids on a carbohydrate base, for use in the dietary management of inborn errors of protein metabolism. Also, they are specifically developed to offer a more accurate and reliable method of administration requiring quantities of individual amino acids.

Also, the pre-measured packets of single-dose amino acids solutions eliminate the need for weighing and provide on-the-go convenience, thereby acting as a factor responsible for the increased demand.

The newly available amino acid solutions possess fewer side effects, thereby enhancing patient benefits. For instance, Aminosyn, by Hospira, Inc., and Nirmin by Nirlife Pharma are a few of the single-dose amino acid solutions available in the market. The formulations of these mixed amino acids provide essential and nonessential amino acids; hence, the standard component acts as comprehensive parenteral nutrition for overall biological functioning.

Therefore, owing to the above-mentioned advantages, the demand for single-dose amino acids upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the global parenteral nutrition market during the forecast period.

North America is expected to dominate the overall Parenteral Nutrition Market:

Among all the regions, North America is expected to dominate global parenteral nutrition in the year 2023 and is expected to do the same during the forecast period from 2024-2030.

This can be ascribed to the increasing prevalence of malnutrition and chronic diseases. Further, the increasing geriatric population base prone to chronic diseases, rising product development activities, the growing initiatives for the awareness of malnutrition and its management, rising launches of parenteral nutrition solutions, presence of key market players in the region, and others are among the key factors that contribute to the growth of the parenteral nutrition market in North America.

For instance, according to the latest study done by the American Cancer Society, in 2022, there will be an estimated 1.9 million new cancer cases in the United States. The increasing incidence of cancers in the United States will increase the demand for parenteral nutrition as the persons undergoing treatment for cancer need parenteral nutrition to help meet their nutritional needs. A special mixture of glucose, protein, fat, vitamins, and minerals is given through an IV into the veins.

The latest data provided by the source Feeding America Organization stated that approximately 40 million Americans suffer from hunger in the US every year, which also includes more than 12 million children. These statistics are reflective of the impending diseases associated with malnourishment, which is one of the leading causative factors for the incrementing demand for parenteral nutrition in North America during the forecast period from 2022 - 2028.

Moreover, the surging launches of parenteral nutrition solutions, regulatory approvals, and other activities such as acquisitions, and agreements, in the region will lead to its increased demand in the market. For instance, in March 2022, Fresenius Kabi announced that the company has been granted an expanded indication for SMOFlipid® Lipid Injectable Emulsion (ILE) for pediatric patients in the United States, including term and preterm neonates, making it the first and only four-oil lipid emulsion for parenteral nutrition patients of every age. SMOFlipid can be used throughout the continuum of care, from the hospital to home care settings.

Additionally, the presence of advanced healthcare facilities and favorable reimbursement policies & regulations in the region has led to a high hospital admission rate, which supports the high product demand for parenteral nutrition in North America.

Therefore, the interplay of the aforementioned factors above would provide a conducive growth environment for the North American region in the parenteral nutrition market.

Parenteral Nutrition Market Key Players:

Some of the key market players operating in the parenteral nutrition market include B. Braun SE, Fresenius Kabi India Pvt. Ltd., Baxter., Otsuka Pharmaceutical India Pvt. Ltd., Pfizer Inc., Grifols, S.A., JW Pharmaceutical, Aculife Healthcare, Kelun, American Regent, Inc., EuroLife Healthcare Pvt. Ltd, SGD Pharma, icumedical, Generic Specialties, Vifor Pharma Management Ltd., Amanta Healthcare, Anhui Medipharm Co, Ltd., and others.

Recent Developmental Activities in the Parenteral Nutrition Market:

In July 2022, Micrel Medical, a manufacturer of medical devices with a focus on infusion therapy, and Baxter Healthcare (Baxter) inked a contract. Under this agreement, the businesses would market the infusion pump Micrel Mini Rythmic PN+ for parenteral nutrition (PN).

In September 2020, the U.S. Food and Drug Administration (FDA) gave its approval to Baxter International's new Clinimix Injections and Clinimix E Injection formulations. It is easier to reach patient protein targets with the new Clinimix formulations because they contain up to 80 g/L of amino acids, the highest amount of protein in any multi-chamber bag currently available in the United States also contain less fluid and dextrose than previous formulations.

Key Takeaways from the Parenteral Nutrition Market Report Study

• Market size analysis for current Parenteral Nutrition market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the parenteral nutrition market.
• Top key products/services/ developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global parenteral nutrition market.
• Various opportunities available for the other competitor in the parenteral nutrition market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current parenteral nutrition market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for parenteral nutrition market growth in the coming future?

Target Audience who can be benefited from this Parenteral Nutrition Market Report Study

• Parenteral nutrition products providers
• Research organizations and consulting companies
• Parenteral nutrition-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in parenteral nutrition
• Various end users who want to know more about the parenteral nutrition market and the latest developments in the parenteral nutrition market.

Frequently Asked Questions for the Parenteral Nutrition Market:

1. What is parenteral nutrition?

Parenteral nutrition (PN), or intravenous feeding, offers liquid nutrients like fats, proteins, vitamins, minerals, carbohydrates, and electrolytes. It is a part of specialized nutritional therapy that provides nutritional support to patients who are unable to utilize their gastrointestinal tract.

2. What is the global market for parenteral nutrition?

The global parenteral nutrition market was valued at USD 6,084.35 million in 2022 and is likely to register a CAGR of 6.04% during the forecast period from 2024 to 2030 to reach USD 8,614.69 million by 2030.

3. What are the drivers for the global parenteral nutrition market?

The parenteral nutrition market is witnessing positive market growth owing to the factors such as the increasing prevalence of malnutrition among children, rising government initiatives and issuance of new guidelines for parenteral nutrition, increasing prevalence of metabolic & chronic conditions, rising strategic steps by the key players for the development and manufacturing of parenteral nutrition, increasing new drug launches and approvals, presence of key players in the market, and others will create an exigency for the parenteral nutrition market.

4. Who are the key players operating in the global parenteral nutrition market?

Some of the key market players operating in the parenteral nutrition market include B. Braun SE, Fresenius Kabi India Pvt. Ltd., Baxter., Otsuka Pharmaceutical India Pvt. Ltd., Pfizer Inc., Grifols, S.A., JW Pharmaceutical, Aculife Healthcare, Kelun, American Regent, Inc., EuroLife Healthcare Pvt. Ltd, SGD Pharma, icumedical, Generic Specialties, Vifor Pharma Management Ltd., Amanta Healthcare, Anhui Medipharm Co, Ltd., and others.

5. Which region has the highest share of the parenteral nutrition market?

Among all the regions, North America is estimated to hold a significant revenue share in the global parenteral nutrition market. This can be ascribed to the increasing prevalence of malnutrition and chronic diseases. Further, the increasing geriatric population base prone to chronic diseases, rising product development activities, and the presence of key domicile players in the region are the reasons which act as a supportive factor for the North American parenteral nutrition market growth.