Global Parenteral Nutrition Market Poised for Significant Growth: Projected to Reach USD 12,456.8 Million by 2034 | Future Market Insights, Inc.
NEWARK, Del, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The global Parenteral Nutrition Market, a vital segment in the healthcare industry, is on a robust growth trajectory. The market recorded sales of USD 5,720.6 million in 2022, and it experienced a notable year-on-year growth of 6.2% in 2023. This growth momentum is expected to continue, with the market projected to achieve revenue of USD 6,452.0 million in 2024. Over the forecast period from 2024 to 2034, the industry is anticipated to expand at a CAGR of 6.8%, reaching an impressive USD 12,456.8 million by the end of 2034.
The rising prevalence of chronic diseases such as cancer, diabetes, and gastrointestinal disorders is a key driver behind this market expansion. Patients with these conditions often require parenteral feeding due to their inability to intake nutrition orally or through enteral routes, thus necessitating parenteral nutrition to maintain their nutritional status.
Improvements in medical technology and healthcare infrastructure are also fueling the industry's growth. Innovations in parenteral nutrition formulations, packaging, and delivery systems have significantly enhanced the efficacy and convenience of these products, making them more suitable for both hospital and homecare settings.
Key Takeaways from Market Study
- The global Parenteral Nutrition market is estimated at a value of USD 6,452.0 million in 2024.
- Sales of Parenteral Nutrition increased at 6.2 % CAGR between 2019 and 2023.
- B. Braun SE, Fresenius Kabi USA, LLC., Baxter International Inc., ICU Medical, Inc., Option Care Health Inc., Grifols, S.A., Otsuka Pharmaceutical Co., Ltd., Aculife, Sichuan Kelun Pharmaceutical Co., ltd., and Meiji Seika Pharma Co., Ltd. are some of the leading players in this business.
- The North American territory is projected to hold a revenue share of 34.1 % over the forecast period
- The industry is projected to grow at a forecast CAGR of 6.8 % from 2024 to 2034.
"Parenteral nutrition continues to play a crucial role in the clinical management of patients who are unable to meet their nutritional needs through enteral routes. As the healthcare landscape evolves, advancements in parenteral formulations, combined with an increasing prevalence of chronic conditions, are driving significant growth in this market. This press release highlights the latest trends, market dynamics, and innovations that are shaping the future of parenteral nutrition globally." says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
Baxter International, Fresenius Kabi, and B Braun lead the market with their diverse product portfolios and strong global distribution networks. These companies invest heavily in R&D to create innovative products that meet evolving healthcare needs.
Manufacturers are also boosting sales through strategic partnerships and collaborations with hospitals, clinics, and research institutions. These partnerships, including clinical trials with academic institutions, help validate new products and drive adoption.
For instance,
- In 2023, American Regent launched FDA-approved Potassium Phosphates Injection USP for IV phosphorus supplementation.
- In 2022, Fresenius Kabi introduced SMOFlipid® Lipid Injectable Emulsion for pediatric patients in the US, the first four-oil lipid emulsion approved for all age groups.
Leading Brands
- B. Braun SE
- Fresenius Kabi USA, LLC.
- Baxter International Inc.
- ICU Medical, Inc.
- Option Care Health Inc.
- Grifols, S.A.
- Otsuka Pharmaceutical Co., Ltd.
- Aculife
- Sichuan Kelun Pharmaceutical Co., ltd.
- Meiji Seika Pharma Co., Ltd.
- Energia Wellbeing Pvt. Ltd.
- Ezen Pharma Inc.
- Claris Lifesciences Ltd.
- JW Pharmaceutical Corporation
- Ferrero Healthcare
- Others
Complete Report and Findings: https://www.futuremarketinsights.com/reports/parenteral-nutrition-market
Key Segments of the Report
By Nutrient Type:
As per nutrient type, the industry has been categorized into Single-dose amino acids (Standard and Disease-Specific), carbohydrates, Lipids, and Additives (Vitamins and minerals, Trace Elements, and Organic Phosphates).
By Consumer Type:
This segment is further categorized into Pediatrics, Adults, and Geriatrics.
By Route of Delivery:
As per the route of delivery, the industry has been categorized into Total parenteral nutrition (TPN), and Peripheral parenteral nutrition (PPN).
By Sales Channel:
This segment is further categorized into Institutional Sales (Hospitals, Clinics, Long-Term Care Centres, and Home Care Agencies), and Retail Sales (Retail Pharmacies, Compounding Pharmacies, Online Pharmacies, and Manufacturer Websites).
By Indication:
As per the indication, the industry has been categorized into Neurological Diseases, GI Disorders, Malnutrition, Alzheimer’s, Cancer Care, Chronic Kidney Diseases, Dysphagia, and Others.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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