PUBLISHER: Grand View Research | PRODUCT CODE: 1321393
PUBLISHER: Grand View Research | PRODUCT CODE: 1321393
The global parenteral nutrition market size is expected to reach USD 10.7 billion by 2030, registering a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing incidences of chronic diseases, such as cancer, diabetes, and other neurological conditions; surge in essential nutrition deficiency among critically ill patients; and growing awareness pertaining to hospital-related malnutrition are few key factors increasing the adoption of parenteral nutrition. Parenteral drug administration provides the benefit of fast action and lower dose delivery, which prevent various adverse effects because of dietary imbalances, thereby promoting market growth.
However, the high risk of infection during administration and the growing preference for enteral nutrition among patients are major factors restricting the market growth. With the increasing population, healthcare costs and food expenditures for a household and the nation are growing. Hence, a higher birth rate is expected to impact nutrition levels, thereby acting as a driver for the market. Realized natality plays a more prominent role than absolute natality (crude birth rate), as it includes environmental as well as resource pressures, such as water, food, and medication requirements per birth. Realized natality has been growing in the last decade and is anticipated to maintain growth over the forecast period.
In 2020, the natality rate reported by the National Center for Health Statistics (NCHS) is 11.99 births per 1,000 population. Furthermore, the percentage of lower-weight infants was 8.0%, thereby boosting the demand for PN products worldwide. Furthermore, the presence of a large population base, aged above 60 years, suffering from low immunity levels, and prone to incidence of neurological diseases, cardiac problems, cancers, and spinal injuries, is a high-impact rendering driver for the parenteral lipid emulsions market over the forecast period. This population is expected to avail the latest surgical treatments, which is expected to increase their life span, thereby driving the need for intensive care & postoperative treatment, inclusive of PN products, such as lipid emulsions.