At 6.0% CAGR, North America Parenteral Nutrition Market is Projected to be Worth US$ 4,805.31 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America parenteral nutrition market was valued at US$ 3,012.06 million in 2022 and is expected to reach US$ 4,805.31 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. Innovation in formulations of nutrition products and surge in cases of malnutrition and premature births are among the critical factors attributed to the North America parenteral nutrition market expansion.

There is a surge in the demand for products that help consumers proactively manage their health, especially those focused on specific needs in terms of energy levels, immunity, and disease treatment. Nutritional requirements differ based on the type of illness. Functionality and specific formulations of the parenteral products do not interfere with the existing treatment provided to patients and help deliver a more precise and enhanced treatment as per the requirement. The macronutrient and micronutrient formulations of parenteral nutrition and their applications vary based on the type of disease, including cancer and gastrointestinal diseases.

Significant developments in Innovative formulations bring in a new era of nutritional solutions that are designed to meet all individual demands as well as the medical conditions of each patient. This level of personalization improves patient outcomes in addition to increasing the effectiveness of parenteral nutrition. Formulation innovations enable the market to fully meet the unique nutritional needs of different patients, from newborns and older adults to people with certain medical conditions. For example, the emergence of lipid-based emulsions with improved stability and bioavailability is changing the face of intravenous nourishment, especially for the treatment of premature infants. Additionally, the inherent risks of problems and side effects that have traditionally been connected to conventional nutritional solutions are reduced because of these formulation innovations. The industry is positioned for exceptional growth and long-term success because of its dual benefits of promoting the adoption of parenteral nutrition within the healthcare ecosystem and improving patient care. Thus, innovation in the formulations of nutrition products is anticipated to create opportunities for the market growth during the forecast period. Thus, the innovation in formulations of nutrition products act as future growth trends in the parenteral medical nutrition market.

On the contrary, mechanical, gastrointestinal, and metabolic complications associated with parenteral feeding systems hampers the growth of North America parenteral nutrition market.

Based on nutrient type, the North America parenteral nutrition market is categorized into single dose amino acid solution, parenteral lipid emulsion, carbohydrates, trace elements, and vitamins and minerals. The single dose amino acid solution segment held 33.2% market share in 2022, amassing US$ 1,000.02 million. It is projected to garner US$ 1,580.03 million by 2030 to register 5.9% CAGR during 2022-2030.

In terms of end user, the North America parenteral nutrition market is segmented into hospitals, clinics, and others. The hospitals segment held 59.7% share of North America parenteral nutrition market in 2022, amassing US$ 1,797.37 million. It is projected to garner US$ 2,790.69 million by 2030 to expand at 5.7% CAGR during 2022-2030.

Based on country, the North America parenteral nutrition market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.4% share of North America parenteral nutrition market in 2022. It was assessed at US$ 2,512.06 million in 2022 and is likely to hit US$ 4,048.26 million by 2030, exhibiting a CAGR of 6.1% during 2022-2030.

Key players operating in the North America parenteral nutrition market are ICU Medical Inc, Grifols SA, Pfizer Inc, Otsuka Pharmaceuticals Co Ltd, Baxter International Inc, B Braun SE, Fresenius Kabi AG, Aculife Healthcare Pvt Ltd, and Vifor Pharma Management AG, among others.

• In November 2020, Otsuka Pharmaceuticals Co Ltd launched "ENEFLUID Injection," the amino acid, glucose, electrolyte, fat, and water-soluble vitamin injection. This product is the first peripheral parenteral nutrition solution in Japan that combines fat and water-soluble vitamins in addition to glucose, electrolytes, and amino acids in a dual-chamber bag.
  
  
• In December 2022, At the 2022 Midyear Clinical Meeting of the American Society of Health-System Pharmacists (ASHP), Baxter International Inc announced the introduction of the ExactaMix Pro Automated Compounder in the US. The product debuted in the beginning of 2023. The recently released product makes use of cutting-edge compounding technology to enhance patient safety, process effectiveness, and formulation accuracy.

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