The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s parenteral nutrition market report forecasts the parenteral nutrition market size to grow to $9.24 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
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Parenteral Nutrition Market Size Forecast
The global parenteral nutrition market is expected to grow from $6.35 billion in 2022 to $6.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The parenteral nutrition market size is expected to grow to $9.24 billion in 2027 at a CAGR of 7.8%.
North America held the largest parenteral nutrition market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Parenteral Nutrition Market Driver – Growth In The Prevalence Of Malnutrition Across The Globe
For instance, the United Nations Food and Agricultural Organization (FAO) estimated in July 2022 that 828 million people worldwide suffered from hunger in 2021, an increase of approximately 46 million from the previous year and 150 million since the COVID-19 pandemic epidemic. As a result of the rising prevalence of malnutrition worldwide, it is expected that demand for parenteral nutrition will rise throughout the projection period.
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Key Parenteral Nutrition Market Trend – Strategic Partnership
Key healthcare players, associations, and researchers are focusing on forming strategic collaborations in order to research, develop, launch, or raise awareness of the use of parenteral nutrition containing new constituents such as omega-3 fatty acids. Businesses are better able to advertise and develop their products as a result of these collaborations, while also educating healthcare professionals and increasing their market position. For example, in November 2020, the American Society for Parenteral and Enteral Nutrition (ASPEN), a professional organization based in the United States, partnered with Fresenius Kabi, a global healthcare company headquartered in Germany, to support ongoing training of health care professionals (HCPs) on the use of omega-3 fatty acids in clinical nutrition.
Parenteral Nutrition Market Segment
1) By Composition: Amino Acids, Fats, Carbohydrates, Trace Elements, Vitamins, Minerals, Other Compositions
2) By Consumer Type: Children and New-born, Adults
3) By End-User: Hospitals, Clinics, Homecare, Other End Users
Parenteral Nutrition Market Major Players and Strategies
Major players in the parenteral nutrition market are Baxter International, Vifor Pharma, Grifols SA, Otsuka Pharmaceutical Co. Ltd., Fresenius Kabi, B. Braun Melsungen AG, Pfizer Inc., Sichuan Kelun Pharmaceutical Co. Ltd., Claris Lifesciences Limited, SGD Pharma, ICU Medical, and Soleo Health.
Pentec Health Inc., a US-based provider of targeted medication delivery therapies and intradialytic parenteral nutrition, was acquired in October 2021 for an undisclosed sum by New York-based private equity firm Wellspring Capital Management. The acquisition by Wellspring is intended to strengthen its position in the specialty infusion market and accelerate its inorganic and organic growth initiatives.
The Parenteral Nutrition Global Market Report 2023 covers regional data on parenteral nutrition market size, parenteral nutrition market trends and drivers, opportunities, strategies, and parenteral nutrition market competitor analysis. The countries covered in the parenteral nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
In medicine, parenteral nutrition is the practice of injecting a specific type of food into a vein (intravenously). The goal of the therapy is to repair or prevent malnutrition. It refers to intravenous feeding (through a vein). A well-balanced diet is essential for a patient’s rehabilitation and can help prevent problems.
View More Reports Related To The Parenteral Nutrition Market –
Nutritional Feed Additives Global Market Report 2023
Clinical Nutrition Global Market Report 2023
Nutritional Analysis Global Market Report 2023
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