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Parenteral Nutrition Market size was over USD 7.04 billion in 2023 and is projected to reach USD 14.83 billion by 2036, growing at around 5.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of parenteral nutrition is assessed at USD 7.37 billion.
Growth Drivers
Growing Geriatric Population and Rising Prevalence of Chronic Illnesses to Drive the Market Growth
Poverty is a big factor leading to malnutrition in older people. Many old people suffer from various disabilities, functional impairments, or chronic diseases. The rise in the medication, healthcare, and utility costs leads them to cut back on their food budget and as a result, they are unable to shop for groceries or cook for themselves and so they compromise on their diet which leads them to malnutrition.
Additionally, growing incidences of chronic diseases such as cancer, Chron’s disease, and others, influence the usage of parenteral nutrition around the globe. According to WHO, the number of cancer-related deaths around the world is projected to increase by 45%[AS1] between 2008 to 2030. Thus, the increasing number of government initiatives and healthcare organizations to spread awareness on the importance of a balanced diet coupled with the rising cases of cancer-related problems and inflammatory bowel syndromes are some of the key factors expected to drive the growth of the global market during the forecast period.
Increasing Prevalence of Malnutrition and Premature Births Worldwide to Further Expand the Market
Malnutrition is one of the key drivers in the parenteral nutrition market. According to the UNICEF, the unbalanced nutritional intake in babies during their initial few days after the birth may lead to diminished cognitive capacity and stunted development. Thus, the rise in the occurrences of malnutrition among children especially in developing and some developed nations across the globe, coupled with the need to properly balance the diets with vitamins, minerals, amino acids, lipids, and others nutrients are some of the major factors expected to further drive the growth of the global market.
Furthermore, an increasing number of C-section deliveries, premature births, and severely undernourished mothers giving birth to weak children are other prominent factors that are projected to accelerate the growth of the market over the forecast period.
Challenges
Side Effects Associated with Parenteral Nutrition to Hinder the Market Growth
Various side effects are associated with the inappropriate usage of parenteral nutrition such as re-feeding syndrome, catheter infections, particulate contamination, and liver dysfunction to the patients undergoing the therapy. These factors are estimated to hamper the market growth. The long-term usage of parenteral nutrition therapy significantly increases the risk of liver diseases, infections, and metabolic complications in patients. These factors coupled with the increasing demand for enteral nutrition is predicted to decrease the growth of the global market during the forecast period.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.9% |
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Base Year Market Size (2023) |
USD 7.04 billion |
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Forecast Year Market Size (2036) |
USD 14.83 billion |
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Regional Scope |
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The market is segmented by nutrient type, consumer, and by end-user, out of which, the nutrient segment is further categorized into carbohydrates, lipid emulsion, single dose amino acid solution, trace elements, and vitamins & minerals. The segment for single dose amino acid solutions is projected to hold a significant market share during the forecast period owing to its extensive use in numerous parenteral therapies for the treatment of chronic diseases. The lipid emulsion segment is also expected to witness significant growth in the parenteral nutrition market on the back of growing cases of pediatric patients worldwide. Lipid emulsions are a rich source of essential fatty acids and are used to uphold the nitrogen level in parenteral nutrition solutions and are therefore responsible for the growth of the global market over the forecast period.
Based on the consumer, the segment for children and new-borns is assessed to hold the largest market share during the forecast period on account of the rising birth rates and premature births along with the scarcity of essential nutrients in premature infants and newborns.
Based on the end-user, the market is segmented into hospitals, clinics, and others. The segment for the hospital is estimated to hold the largest share in the global market over the forecast period which is attributed to the growing cases of inflammatory bowel syndrome and cancer-induced anemia patients globally coupled with the increasing demand for advanced healthcare facilities. The clinical segment is also anticipated to register a fast growth in terms of revenue over the forecast period as a result of the increasing number of specialized and disease-specific clinics which is estimated to contribute to the internal competition for better service and thereby raise the global demand for parenteral nutrition market.
Our in-depth analysis of the global market includes the following segments
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By Nutrient |
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By Consumer |
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By End-User
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Based on the regional analysis, the parenteral nutrition market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is poised to account for largest revenue share by 2036, due to increasing cases of chronic diseases such as cancer and diabetes in the region, growing approval of the U.S. FDA approved parenteral nutrition products coupled with increased R&D investment funding by leading companies. The growing prevalence of technologically advanced medical facilities along with the rise in healthcare expenditure and increasing geriatric population are some of the factors expected to hold this region in the leading position during the forecast period
The Asia-Pacific region is expected to witness the fastest growth in terms of revenue during the forecast period on the back of the increasing geriatric population who are more prone to chronic diseases. Additionally, growing awareness of parenteral nutrition, and improving healthcare infrastructure are also anticipated to drive the growth of the market in the region. The developing economies such as China and India are expected to accelerate this region's growth as a result of supportive government policies to develop healthcare infrastructure, and increased corporate investments in the healthcare segment are expected to increase the parenteral nutrition market growth during the forecast period.
The Middle East and Africa and Latin America are also expected to experience moderate growth in the market on account of increasing cases of malnutrition, rising awareness about inflammatory bowel syndrome, and adoption of new parenteral therapies.
September 2020 -. Baxter International Inc. made an announcement regarding the U.S. FDA approval of Clinimix and Clinimix E which consists of higher protein content mainly for patients who require parenteral nutrition.
Author Credits: Radhika Pawar
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