Dublin, Ireland, August 19, 2022 (GLOBE NEWSWIRE) — A recently published study by Fact.MR estimates that the global parenteral nutrition market is set to grow at a CAGR of 7% from 2022 to 2032, reaching nearly $14 billion. US in terms of value. The growth of the market is mainly attributed to the increase in cases of nutritional deficiency in several age groups, induced either by chronic diseases or by the contraction of infectious diseases.
Going forward, growth is expected to remain high amid rising nutritional needs, particularly in developing countries. Rising cases of premature births and rising cases of malnutrition are some of the key growth drivers that are expected to influence future sales of parenteral nutrition products.
Historically, the market jumped at a CAGR of 6.4% between 2015 and 2021. At the end of 2021, the market was valued at US$6 billion. During the novel coronavirus pandemic, the prospects for growth have only increased, given the growing preference for the parenteral route of delivering drugs and other essential nutrients to infected patients. This method has also reduced the risk of contracting COVID-19 infection, especially among healthcare workers.
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Impact of COVID-19 on the Parenteral Nutrition Market
The parenteral nutrition market value has been affected by the extraordinary global health concern caused by the COVID-19 virus outbreak. Parenteral nutrition has played a crucial role in the treatment of malnutrition caused by COVID-19 infection in patients around the world. A severe lack of appetite caused by the COVID-19 infection was accompanied by other symptoms which worsened the immune defenses and caused a loss of muscle mass. In response to this disease, hospitals and clinics have increased the number of health facilities available for patients who need a diet tailored to their disease. These advances are likely to increase patient demand and adoption of intravenous nutrition administration.
Key insights from market research
- The global parenteral nutrition market is expected to be valued at US$7 billion by the end of 2022
- 31% of parenteral nutrition market revenue will come from single-dose amino acids
- By nutrient type, parenteral lipid emulsions will see a CAGR of 6.7% through 2032
- North America will account for more than 2 in 5 parenteral nutrition product sales in 2022
- Asia-Pacific will be the fastest growing market, flourishing at a CAGR of 8% from 2022 to 2032
Leading manufacturers of parenteral nutrition products strive to continuously improve their product offerings. They do this by introducing new product lines, consolidating their presence through collaborations and acquiring small and medium-sized suppliers, among others. Some key developments are:
- In January 2020, Fresenius Kabi completed its clinical trial for SmofKabiven – a new line of lipid emulsions. The product is made from several oils, including fish, soy and olive oils and medium chain triglycerides.
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Parenteral Nutrition Market Report Highlights
- The major players operating in the market are primarily focusing on improving patient safety. The companies are also focusing on advancing their PN products to complement parenteral nutrition composition by incorporating technologies
- The ability to provide patients with improved lipid and protein formulations is one of the key metrics that companies rely on to differentiate their products from competitors.
- In addition, high infection rate, poor quality of water and sanitation facilities, and lack of awareness are prevalent factors that increase the incidence of malnutrition in developing countries, creating significant demand for NP sources, thus contributing to the growth of the market.
- The single dose amino acid solution nutrient type segment dominated the market in 2021 due to the introduction of newly available amino acid solutions with minimal side effects
- North America led the global market in 2021 due to rising incidence of chronic diseases and malnutrition coupled with increasing US FDA approvals in the region
Key segments covered in the Parenteral Nutrition research report
By nutrient Type :
- Carbohydrate-based parenteral nutrition products
- Parenteral lipid emulsion
- Amino Acid Single Dose Parenteral Nutrition Solution
- Parenteral nutrition trace elements
- Parenteral vitamins and minerals
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More valuable information
Fact.MR, in its new offering, presents an unbiased analysis of the parenteral nutrition market, showcasing historical market data (2015-2021) and forecast statistics for the period 2022-2032.
The study reveals essential information based on the type of nutrients (carbohydrates, parenteral lipid emulsion, single-dose amino acid solution, trace elements and vitamins and minerals) in five major regions (North America, Europe, Asia -Pacific, Latin America and the Middle East). & Africa).
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