Parenteral Nutrition Market Size, Share & Trends Analysis Report By Nutrient Type (Trace Elements, Single-dose Amino Acid Solution, Parenteral Lipid Emulsion), By Region (North America, APAC), And Segment Forecasts, 2022 - 2030

Report Overview

The global parenteral nutrition market size was valued at USD 6.4 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. Development of technically advanced parenteral nutrition products with barcode assistance, growing preference for parenteral nutrition over enteral nutrition in patients with COVID-19, shorter hospital stays, along with the reduced risk of infection are factors expected to boost the product demand, thereby driving the market. According to the ASPEN20 Virtual Conference, providing appropriate nutrition to adults with COVID-19 remains a priority for optimizing outcomes. This includes overcoming various challenges amid the pandemic, such as a shortage of parenteral nutrition products due to a disrupted supply chain.

Moreover, the increasing prevalence of chronic conditions, majorly cancer & malnutrition, and the rapidly growing geriatric population and natality incidence are key high impact-rendering drivers for market growth. Increasing natality is expected to be another major market driver. Various benefits associated with parenteral nutrition cover easy usage, stimulating stomach blood flow, providing efficient nutrients, and preserving muscle catabolism. An increase in awareness about these benefits is likely to help boost the product demand. For instance, educational campaigns pertaining to health awareness particularly emphasizing nutrition and various initiatives have been undertaken to promote health & social care.

PN can be given to children and infants suffering from a disease or medical condition, thereby requiring special nutritional management. Specialized Nutrition Europe (SNE) estimated that nearly 300,000 EU children are anticipated to require medical nutrition for their special medical needs in early life stages, which supports growth and development. The study further reveals that about 40% of the hospitalized adult patients are malnourished and need medical nutrition to manage the disease-related malnutrition condition, thereby reducing the duration of hospital stay. Parenteral nutrition further lowers the infection risk and underdevelopment, thereby promoting its adoption worldwide.

Most of the premature babies suffer from low weight and undeveloped immunity, which puts them at risk. In addition, individuals and healthcare authorities are extensively focusing on limiting mortality due to early birth, thereby driving the use of parenteral lipid emulsions. In 2016, the premature birth rate in the U.S. was about 9.6% and national authorities are working toward reducing it to 8.1%, according to the National Center for Healthcare Statistics. Moreover, a rise in the number of hospitalizations for COVID-19 patients during this pandemic further boosted the product adoption in various hospitals, clinics, and Ambulatory Surgical Centers (ASCs).

Changing reimbursement scenarios coupled with other emerging trends to facilitate product adoption are projected to boost market growth in the near future. Various health plans are now available in the U.S. to cope with the problems caused by the COVID-19 pandemic. The immediate implementation of reforms in the Value-based Insurance Design (V-BID) model by the Centers for Medicare & Medicaid Services (CMS) ensures affordable and easy access to critical, clinical services. Thus, the COVID-19 pandemic is anticipated to positively impact the market and boost product adoption in the coming years.

COVID-19 Parenteral Nutrition market impact: 6.8% increase in revenue from 2019 to 2020

Furthermore, the increasing prevalence of chronic conditions, such as cancer, is positively impacting the product usage worldwide. Parenteral nutrition helps in the administration of vital nutrients, which helps in maintaining strength, energy, and hydration levels in patients suffering from cancer at all stages, i.e., from diagnosis to recovery. According to the WHO, approximately 8.2 million deaths are recorded each year due to cancer, accounting for 13.0% of deaths worldwide. Moreover, there is expected to be a 70.0% increase in new cases of cancer in the next couple of decades. Thus, the increasing prevalence of cancer is one of the key factors contributing to the market growth.

Nutrient Type Insights

In 2021, the single-dose amino acid solution segment accounted for the largest market share of more than 30.5%. This can be attributed to the increased usage of amino acid solutions, which can be related to an increase in the influx of regulatory-approved solutions. Moreover, newly available amino acid solutions possess fewer side effects, thereby enhancing patient benefits. Aminosyn (by Hospira, Inc.) and Nirmin (by Nirlife Pharma) are a few of the single-dose amino acid solutions available in the market. Formulations of mixed amino acids provide essential and nonessential amino acids; hence, the standard component acts as comprehensive parenteral nutrition for the overall biological functioning.

Parenteral lipid emulsion segment is anticipated to register the fastest growth during the forecast period. In addition, the parenteral lipid emulsions segment is projected to witness the fastest growth rate over the forecast period. The development of hybrid parenteral lipid emulsions using mixed lipid emulsions of fish oil and olive oil, growing adoption of parenteral nutrition over enteral nutrition in COVID-19 patients, shorter hospital stays, and reduced risk of infection are factors expected to boost the demand for parenteral lipid emulsions, thereby driving the segment growth.

Regional Insights

North America accounted for the largest market share of more than 41% in 2021. Key factors responsible for its highest market share include high research expenditure by private entities & government agencies in the healthcare sector; technologically advanced medical devices; and collaborations among the medical device industry, regulatory authorities, universities, and others. In addition, the growing prevalence of various chronic diseases, such as cancer and malnutrition, and the presence of advanced healthcare facilities, favorable reimbursement policies & regulations in the region have led to a high hospital admission rate, which supported the high product demand.

Asia Pacific is anticipated to register the fastest CAGR during the forecast period. The growing prevalence of chronic diseases due to unhealthy eating habits and rising demand for cost-effective treatment of care are some of the factors expected to drive the Asia Pacific regional market growth. Moreover, increasing population, coupled with poverty, and low awareness about nutrition in the region are leading to malnutrition, which is one of the key factors boosting the product demand.

Key Companies & Market Share Insights

Continuous investments from key operating players for the development of advanced PN solutions have led them to gain a competitive edge in the market, thereby driving the market growth. For instance, in January 2020, Fresenius Kabi completed its clinical trial for SmofKabiven. SmofKabiven is their new launch in the range of lipid emulsions. It is made of multiple oils (fish, soybean, & olive oils, and medium-chain triglycerides) along with a separate chamber for amino acids, glucose, and lipids.  In addition, companies are actively involved in improving their current product portfolio to sustain their position in the market. New drug development by companies and their entry in the untapped markets to expand their reach are also expected to boost the market growth. Some of the key players operating in the global parenteral nutrition market are:

• Baxter

• Allergan

• Actavis Inc.

• Otsuka Pharmaceutical Factory, Inc.

• Grifols, S.A.

• B. Braun Melsungen AG

• Vifor Pharma

• Fresenius Kabi AG

• Sichuan Kelun Pharmaceutical Co., Ltd.

• Pfizer Inc. (Hospira Inc.)

Parenteral Nutrition Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country-level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global parenteral nutrition market report on the basis of nutrient type and region:

• Nutrient Type Outlook (Revenue, USD Million, 2016 - 2030)

  • Carbohydrates

  • Parenteral Lipid Emulsion

  • Single Dose Amino Acid Solution

  • Trace Elements

  • Vitamins & Minerals

• Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • Italy

    • Spain

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE