Parenteral Nutrition Market worth over $8.4bn by 2027

Parenteral Nutrition Market size is set to surpass USD 8.4 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Rising preference for parenteral nutrition in homecare settings, especially in long term chronic care is one of the prime factors boosting the market growth. Parenteral nutrition in homecare settings is generally recommended to the patients that undergo nutritional care for more than 4 weeks. Adoption of parenteral care in homecare settings also aids in reducing the healthcare expenses, further promoting the demand for homecare parenteral nutrition and driving the market expansion as it is comparatively cost-effective than hospitals.
 

Parenteral nutrition in homecare settings is financed by health insurance funds, thereby fostering the patient preference and convenience. Additionally, guidelines published by the European Society for Clinical Nutrition and Metabolism (ESPEN) recommends home parenteral nutrition (HPN) for patients suffering with cancer patients. In certain cases, people suffering with chronic ailments are not able to intake or absorption of enteral nutrition and in such scenario, HPN is recommended by the ESPEN. HPN is highly advised for people affected with chronic intestinal failure (CIF), malignant diseases and to cancer patients as a palliative nutrition in late phases of diseases.
 

Increasing prevalence of metabolic disorders along with other chronic conditions is expected to augment the demand for parenteral nutrition among patients. Changing lifestyle and poor eating habits have led to high number of people affected with malnutrition, obesity, diabetes, & cardiovascular disorders. Several studies have linked the chronic ailments such as cardiovascular disorders and diabetes along with metabolic disorders increasing the mortality and disease burden.
 

High versatility and ability to combine other macronutrients are influencing the segment growth

Get more details on this report - Request Free Sample PDF
 

The carbohydrates segment in the parenteral nutrition market was valued USD 1.35 billion in 2020. Carbohydrates perform an anchoring role of providing energy to the body, crucial in management of chronic diseases, preterm births and malnutrition among others. Carbohydrates form major sources of energy contributing approximately 60% of non-protein energy in parenteral nutrition. Carbohydrates offer high versatility as they can be fused with other constitutes of clinical nutrition such as amino acids, vitamins and lipid emulsions to maintain nitrogen balance in the body. Carbohydrates are vital in meeting the daily caloric intake and ensuring high energy, hydration as well as strength levels.
 

Browse key industry insights spread across 165 pages with 185 market data tables & 16 figures & charts from the report, “Parenteral Nutrition Market Size By Composition (Amino Acids, Fats, Carbohydrates, Trace Elements, Vitamins, Minerals), By Consumer (Children and Newborns, Adults), By End-use (Hospitals, Clinics, Homecare), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/parenteral-nutrition-market
 

Growing prevalence of gastrointestinal disorders is anticipated to facilitate the parenteral nutrition market demand

The adults segment will to reach USD 4.71 billion by 2027 on account of the increasing incidence of chronic conditions in adults and expanding geriatric population base globally. Adults with gastrointestinal disorders such as inflammatory bowel disease, bowel obstruction and other indications need parenteral nutrition. The increasing prevalence of gastrointestinal disorders is slated to promote the acceptance of parenteral mode of nutrition among patients, thereby stimulating the industry growth.
 

Rise in number of clinics and high patient preference for clinics is predicted to enhance the market revenue

The clinics segment in the parenteral nutrition market held for more than 9% of revenue share in 2020 led by the growing number of clinics and rising patient preference for clinics. The demand for these clinics is increasing due to lower waiting periods, lower expenses and better patient convenience. Healthcare professionals at clinics cater to fewer patients, enabling them to address the patient concerns optimally and reduce their travel as well as waiting time. Majority of the clinics provide same-day appointments at reduced costs as compared to the hospitals.
 

Increasing number of people affected with malnutrition in China is projected to propel the market value

China parenteral nutrition market is estimated to expand at 8.1% growth rate through 2027 owing to the rising number of people suffering with malnutrition along with government initiatives to promote clinical nutrition in the country. According to the Global Nutrition Report 2020, over 8% of children under 5 years of age are affected with stunted growth and around 1.9% of children under 5 years of age are affected with wasting, inflicting a triple burden of malnutrition on China.
 

As per the PLOS One article, the overall prevalence of malnutrition in China was 19.2% in 2018. In order to curb the alarming rates of malnutrition, the Chinese government initiated two health programs emphasizing on the significance of nutrition. Healthy China 2030 and National Nutrition Plan (2017–2030) were implemented by the government to address and reduce the prevalence of obesity, stunting, folic acid deficiency and anemia among vulnerable people. Such initiatives will fuel the usage of parenteral nutrition in vulnerable population, further accelerating the parenteral nutrition market expansion.
 

Players are focusing on implementing strategic initiatives and novel product launches to drive the business growth

Some of the major companies operating in the parenteral nutrition market are Baxter International, Inc., Aculife Healthcare, Fresenius Kabi, Grifols International S.A. B. Braun Melsungen AG, and ICU Medical among others. These leaders are engaged in collaborations, agreements and partnerships to gain competitive advantage over their competitors.