Parenteral Nutrition Market - Global Outlook and Forecast 2022-2027

PARENTERAL NUTRITION MARKET OVERVIEW

The global parenteral nutrition market was valued at USD 4.7 billion in 2021 and is forecasted to grow at a CAGR of 4% to reach USD 6 billion by 2027. Patients who are unable or unwilling to tolerate enteral nourishment, such as those with intestinal failure, paralytic ileus, colon ischemia, and other conditions, receive intravenous nutrition through parenteral nutrition. Parenteral nutrition also includes the intravenous delivery of micronutrients or mixtures of micronutrients to correct a deficiency (e.g., thiamine, copper, electrolytes). Complete parenteral nutrition therapy in patients with GI tract dysfunction has become the standard of care in most hospitals and intensive care units around the world. However, usage varies significantly between institutions. In patients with intestinal failure, parenteral nourishment can save their lives, e.g., short bowel syndrome. Furthermore, a greater awareness of patients' demands allowed for the customization of parenteral nutrition solutions based on the patient or clinical state, which is anticipated to boost the market growth further

Analysts' Viewpoint

According to the parenteral nutrition market analysis report, the growing requirement for artificial nourishment in patients with chronic conditions is a crucial trend that has pushed product development. Parenteral feeding is increasingly being used as a life-sustaining therapy in patients with severe gastrointestinal diseases and cases of small bowel syndrome, mainly when no other artificial nutrition is clinically possible. Parenteral nourishment has become more widely accepted due to advancements in vascular access methods for these individuals. The focus on preventing catheter-related bloodstream infections, in particular, has had a positive impact on the parenteral feeding market dynamics. The rise of the parenteral nutrition (PN) industry has been fueled by advancements in formulations and the delivery of artificial nutrition for critically ill patients. There has been a greater emphasis on managing parenteral nutrition in various patient populations. In clinical contexts, personalized nutrition formulae have been designed to fulfill the individual dietary demands of patients. Manufacturers have pushed hard for the release of safer formulations to assist doctors in reducing PN-related problems such as metabolic issues.

The advances in admixture formulation have made parenteral nutrition more physiologically attractive to the target patients. Parenteral nutrition and enteral nutrition have been compared in a rising number of research, including randomized clinical trials, and improvements in admixture formulation have made parenteral nutrition more physiologically appealing to the target patients.

Acquisitions and Product Launches to Increase Parenteral Nutrition Market Share

• In 2018, Fresenius Kabi AG in Europe introduced mofKabiven additional Nitrogen, a three-chamber bag with a unique protein-to-energy ratio.
• In July 2017, Claris Injectables Limited, a subsidiary of Claris Lifesciences Limited, was acquired by Baxter International, Inc.
• In September 2020, Baxter announced U.S. FDA approval of Clinimix and Clinimix E with higher protein for patients requiring parenteral nutrition.
• In August 2019, JW Life Science and Baxter Pharmaceutical partnership in Europe launched Finomel, a ready-to-use triple-chamber bag for parenteral nutrition (PN).
• In September 2018, Baxter launched Olimel 7.6% high protein nutrition formulation at the 2018 ESPEN Congress.

GLOBAL PARENTERAL NUTRITION MARKET TRENDS AND DRIVERS:

Increasing metabolic disorders and other chronic diseases

Heart disease, stroke, type 2 diabetes, metabolic syndrome, and many other problems include high blood pressure, high blood sugar, extra body fat around the waist, and abnormal cholesterol or triglyceride levels. Metabolic syndrome is becoming more common, affecting up to one-third of people in the US. The growing number of aged people worldwide is undoubtedly the greatest economic, health, and social issue of the day. In addition, the growth in chronic and degenerative diseases has been one of the most noticeable epidemiologic trends in recent years. The growing prevalence of chronic illness among the elderly, which necessitates ongoing surveillance, is one of the major factors driving the global parenteral nutrition market growth. Chronic kidney disease, for example, affects roughly 10% of the world's population each year, according to the National Kidney Foundation.

Furthermore, the rise in occurrences of malnutrition among the elderly is propelling the worldwide parenteral nutrition market growth. The National Resource Center on Nutrition states that around 1 million housebound older persons in North America are malnourished each year. Moreover, the approval of innovative parenteral components and an increase in key companies and their research and development operations for new product development are two major factors driving the global parenteral nutrition market.

Growing Malnutrition Across the Globe

Malnutrition includes undernutrition, a lack of vitamins and minerals, overweight or obesity, and diet-related non-communicable diseases. According to the World Health Organization, 1.9 billion adults are overweight or obese, whereas 462 million are underweight. One hundred forty-nine million children under five are expected to be stunted, 45 million will be wasted, and 38.9 million will be overweight or obese by 2020. Undernutrition accounts for over half of all deaths among children under five. The poorest and middle-income countries have the most brutal hit. Poor people are more likely to suffer from various forms of malnutrition. Malnutrition also raises healthcare costs, reduces productivity, and slows economic growth, prolonging the poverty and illness cycle. Around the world, poor nutrition and improper diets are among the primary causes of chronic diseases. This increases the demand for parenteral feeding by creating and developing the market.

GLOBAL PARENTERAL NUTRITION MARKET SHARE AND SEGMENTS

The Parenteral Nutrition Market is bifurcated by Type, patient type, indication, end-user, and region.

The market is divided into carbohydrates, parenteral lipid emulsions, single dose amino acid solutions, vitamins, minerals & trace elements, and among these types, carbohydrates held the largest share in the market during the forecast period. The adult age group segment was dominant throughout the forecast period. The protein energy malnutrition-PEM segment accounted for the maximum share in the parenteral nutrition market. The hospitals & clinics segment accounted for the largest share in the parenteral nutrition market.

COMPETITIVE LANDSCAPE

Major players in the global parenteral nutrition market are attempting to increase their market share by launching new products and forming collaborations with other market participants. These factors contribute and are expected to further increase the size of the global parenteral nutrition market.

AbbVie, B. Braun Melsungen AG, Baxter, Fresenius Kabi AG, and Pfizer Inc. are among the leading companies in the global parenteral nutrition market. Aculife, Albert David, Amanta Healthcare, BML Parenteral Drugs, Double-crane Pharmaceutical Co., Ltd, Grifols, S.A., Huaren, J.M. Gabler Saliter GmbH & Co.KG, Kelun Pharma, M. Schilling GmbH Medical Products, and others are some of the prominent players in the global parenteral nutrition market.

GEOGRAPHIC OVERVIEW

North America accounted for the largest parenteral nutrition market share. The need for parenteral nutrition products among cancer patients and others with chronic conditions fueled the growth. Various FDA-approved parenteral feeding products have also been added to the list. The parenteral nutrition market in North America has also been supported by CDC guidelines on delivering parenteral nutrition therapy in diverse patient populations. European Society for Clinical Nutrition and Metabolism issued a guideline in 2020 regarding the nutritional treatment of people infected with SARS-CoV-2. The European market is predicted to rise at a rapid pace. In various parts of Asia Pacific, the rapidly aging population is a crucial factor that has boosted demand for parenteral nutrition products. Furthermore, establishing ESPEN recommendations on clinical nutrition relevant to parenteral feeding in intensive care units has benefited the regional industry.