According to the latest report by Expert Market Research (EMR), the global parenteral nutrition market share is anticipated to exhibit a substantial growth rate, with a projected CAGR of 6.7% during the forecast period from 2024 to 2032. This growth is attributed to various factors such as the rising prevalence of chronic diseases, technological advancements in parenteral nutrition solutions, and the increasing geriatric population worldwide. Additionally, the market is also expected to benefit from the growing awareness about the importance of nutrition therapy in healthcare settings and the rising demand for specialized formulations catering to different patient needs.
Parenteral nutrition, also known as intravenous feeding, is a method of delivering essential nutrients, including carbohydrates, proteins, fats, vitamins, and minerals, directly into the bloodstream of patients who are unable to consume food orally or through the gastrointestinal tract. It plays a crucial role in providing nutritional support to patients with conditions such as gastrointestinal disorders, cancer, malnutrition, and those undergoing surgical procedures.
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The global parenteral nutrition market is witnessing significant growth due to the increasing incidence of chronic diseases such as cancer, gastrointestinal disorders, and organ failures, which often result in malnutrition and the inability to consume food orally. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality worldwide, with an estimated 19.3 million new cancer cases diagnosed in 2020. Patients undergoing cancer treatment often experience loss of appetite, nausea, and difficulty swallowing, making it challenging for them to meet their nutritional requirements through regular diet alone. As a result, the demand for parenteral nutrition solutions is on the rise to ensure adequate nutrient intake and support the overall health and well-being of cancer patients.
Furthermore, the aging population is another significant factor driving the growth of the parenteral nutrition market. As people age, they are more prone to developing chronic illnesses and experiencing nutritional deficiencies due to factors such as reduced appetite, impaired absorption of nutrients, and underlying health conditions. The United Nations Department of Economic and Social Affairs (UNDESA) estimates that the global population aged 65 and above is expected to nearly double from 703 million in 2019 to 1.5 billion by 2050. This demographic shift is expected to increase the demand for healthcare services, including parenteral nutrition, to meet the unique nutritional needs of elderly patients.
Moreover, advancements in technology and formulation techniques are fueling innovation in the parenteral nutrition market, leading to the development of specialized products tailored to specific patient populations. For instance, manufacturers are focusing on creating customized parenteral nutrition solutions with optimized nutrient compositions based on factors such as age, weight, medical history, and underlying health conditions. These personalized formulations help healthcare providers deliver precise nutritional support to patients, thereby improving clinical outcomes and reducing the risk of complications associated with malnutrition.
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Parenteral Nutrition Market Segmentation
The global parenteral nutrition market can be segmented based on product type, nutrient type, distribution channel, and region.
Market Breakup by Product Type
- Total Parenteral Nutrition (TPN)
- Partial Parenteral Nutrition (PPN)
Market Breakup by Nutrient Type
- Carbohydrates
- Proteins
- Fats
- Vitamins
- Minerals
- Others
Market Breakup by Distribution Channel
- Hospitals
- Homecare Settings
- Online Pharmacies
- Retail Pharmacies
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Parenteral Nutrition Market Competitive Landscape
The competitive landscape of the global parenteral nutrition market is characterized by the presence of several key players striving to expand their market share through strategic initiatives such as product launches, mergers and acquisitions, collaborations, and partnerships. Some of the prominent players operating in the market include:
- Braun SE
- Fresenius Kabi
- GRIFOLS, S.A.
- Baxter International, Inc
- Otsuka Pharmaceutical Factory, Inc.
- Kelun
- Libang HealthCare Group
- Orbisana Healthcare GmbH
- Others
The global parenteral nutrition market is poised for significant growth in the coming years, driven by factors such as the increasing prevalence of chronic diseases, the aging population, and technological advancements in nutrition therapy. As healthcare providers continue to recognize the importance of adequate nutrition in patient care, the demand for parenteral nutrition solutions is expected to rise, creating lucrative opportunities for manufacturers and suppliers in the market. However, challenges such as regulatory hurdles, product recalls, and supply chain disruptions may hinder market growth to some extent. Nonetheless, with the adoption of innovative strategies and a focus on product development, companies can capitalize on the growing demand for parenteral nutrition and position themselves for long-term success in the global market landscape.
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