Parenteral Nutrition Market Analysis

Parenteral Nutrition Market Analysis

Based on composition, the global market is segmented into amino acids, fats, carbohydrates, trace elements, vitamins, minerals and other compositions. In 2022, the amino acids segment dominated the market and was valued at USD 2.2 billion.
 

• The amino acids are a fundamental component of parenteral nutrition. Amino acids play a pivotal role in promoting tissue repair, muscle growth, and overall well-being, making them a crucial component of parenteral nutrition solutions.
   
• Furthermore, advancements in medical technology and formulations have led to the development of more effective and specialized amino acid products, catering to a wider range of patient needs.
   
• Amino acids are well-established and widely studied nutritional components with a long history of safe and effective use in clinical practice and their use aids in preventing complications related to malnutrition. The combined influence of these factors collectively reinforces the growth trajectory of this particular segment.
   

Based on type, the parenteral nutrition market is classified into RTU/standard commercial parenteral nutrition, compounded parenteral nutrition. The RTU/standard commercial parenteral nutrition held a significant market share of 88.3% in 2022, and the segment is projected to experience sustainable CAGR of 7% during the analysis period.
 

• The convenience and time-saving benefits offered by RTU formulations have garnered immense popularity among healthcare professionals, reducing the need for on-site compounding and ensuring accurate nutrient delivery. These products have become more readily available, with a wide range of options tailored to various medical conditions and patient needs.
   
• Furthermore, the standardization of these products ensures consistent quality and safety, thereby gaining the trust of healthcare professionals and contributing to the segment's high growth.
   

Based on consumer, the global parenteral nutrition market is segmented into adults and newborn & children. The adult’s segment has witnessed massive growth in recent years, accounting for USD 3.2 billion in 2022, and is anticipated to expand at a CAGR of 6.9% during the forecast timeframe.
 

• Adults, particularly the elderly, are more likely to suffer from chronic illnesses that may impair their ability to eat or absorb nutrients properly.
   
• Conditions like cancer, gastrointestinal disorders, and malabsorption syndromes are prevalent in the adult population, necessitating the use of parenteral nutrition to provide essential nutrients.
   
• Additionally, the factors such as the need for critical care and age-related nutritional requirements drive the high market share of adults in the market.
   

Based on the end users, the global parenteral nutrition market is segmented into hospitals, clinic, homecare settings and other end-users. The contract research organizations (CROs) is expected to show significant growth prospects between 2023 and 2032.
 

• The hospital segment dominated the market and was valued to be USD 3.7 billion in 2022.
   
• The hospitals are the primary providers of parenteral nutrition due to their ability to deliver comprehensive care, specialized units, clinical expertise, and a commitment to ensuring the well-being of a wide range of patients with diverse medical conditions.
   
• Hospitals serve a diverse patient population with varying medical conditions and nutritional needs. This diversity drives the demand for parenteral nutrition in these healthcare settings. Moreover, advancements in parenteral nutrition formulations and delivery systems have made it more accessible and effective, further boosting its adoption in hospital settings.
   

The North America region held the largest market share of 30.0% in 2022 and is anticipated to expand at 7.2% CAGR over the forecast timeframe.
 

• One of the primary drivers is the well-established healthcare infrastructure in the region, which includes advanced medical facilities and a strong network of healthcare providers. This infrastructure supports the safe and effective administration of parenteral nutrition to patients.
   
• Additionally, there is a growing trend in North America towards homecare services for parenteral nutrition. Many patients prefer receiving this specialized nutrition therapy in the comfort of their homes, which not only enhances convenience but also reduces the overall healthcare costs.
   
• In addition to this, factors such as increasing prevalence of chronic diseases, the evolving healthcare practices, and the presence of key players in the in the region contribute to this growing trend, thereby bolstering the growth of this region.