The latest market report published by Credence Research, Inc. “Global Parenteral Nutrition Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Parenteral Nutrition Market has grown steadily in recent years and is predicted to develop at a CAGR of 6.50% between 2023 and 2030. In 2022, the market was valued at USD 6.8 billion, and it is predicted to grow to USD 10.5 billion by 2030.
The market segmentation includes nutrient types such as carbohydrates, lipid emulsion, single-dose amino acid solution, trace elements, and vitamins and minerals. Consumer types consist of children and newborns, as well as adults. The major end-users of parenteral nutrition are clinics and hospitals. The market is further segmented by region, with North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa being the key regions.
The increasing prevalence of chronic illnesses, such as cancer and gastrointestinal diseases, is driving the demand for parenteral nutrition. Patients who are unable to eat orally or have impaired nutrient absorption can benefit from parenteral nutrition. The growing aging population and technological advancements in parenteral nutrition products are further contributing to market growth.
The demand for home parenteral nutrition is growing as patients prefer to receive long-term parenteral feeding support in the comfort of their homes. Home parenteral nutrition allows patients to have a more normal life while reducing the burden on healthcare facilities. The COVID-19 pandemic has also increased the demand for home parenteral nutrition, as patients are hesitant to visit healthcare institutions for fear of exposure to the virus.
The major drivers of the global parenteral nutrition market are the increasing prevalence of chronic illnesses and the growing demand for home parenteral nutrition. Chronic diseases are on the rise, leading to an increased need for nutritional support. Home parenteral nutrition offers a convenient treatment option for patients who require long-term parenteral feeding support. However, the market also faces challenges such as a shortage of skilled healthcare providers to administer parenteral feeding treatment and the requirement for continuous monitoring and adjustment of parenteral nutrition treatment based on patient condition and nutritional needs.
Vietnam Parenteral Nutrition Market Drivers refer to the various factors that are propelling the growth of the parenteral nutrition market in Vietnam. One crucial driver is the increasing prevalence of chronic diseases such as cancer, gastrointestinal disorders, and malnutrition among both adults and children. As these conditions require specialized nutritional support, there has been a growing demand for parenteral nutrition products in Vietnam. Additionally, an expanding elderly population in the country has contributed to the rising need for effective clinical nutrition solutions. Moreover, advancements in medical technology have enabled better formulation and delivery methods of parenteral nutrition products, making them more accessible and beneficial for patients in need. The government’s efforts to improve healthcare infrastructure and increase awareness about proper nutritional care have also played a significant role in driving market growth.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Parenteral Nutrition Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Route of Administration and Application
- Major nations in each region with their import/export statistics
- The global Parenteral Nutrition Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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