North America Parenteral Nutrition Market
No. of Pages: 82 | Report Code: BMIRE00030516 | Category: Life Sciences
No. of Pages: 82 | Report Code: BMIRE00030516 | Category: Life Sciences
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; it is estimated to record a CAGR of 6.0% from 2022 to 2030. Strategic insights for the North America Parenteral Nutrition provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Parenteral Nutrition refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Rise in Prevalence of Gastrointestinal Diseases Fuels North America Parenteral Nutrition Market
Crohn's disease, bowel obstruction, ulcerative colitis, short bowel syndrome, microscopic colitis, and gastric cancer are a few examples of gastrointestinal diseases. According to the "Worldwide Prevalence and Burden of Functional Gastrointestinal Disorders, Results of Rome Foundation Global Study," published in January 2021, functional gastrointestinal disorders have affected over 40% of people across the globe.
Based on the Global Burden of Disease Study 2019, ~4.9 million cases of inflammatory bowel disease (IBD) were recorded worldwide in 2019. The US (762,890) registered the highest number of cases, with prevalence of 245.3 cases per 100,000 people, respectively. Ulcerative colitis and Crohn's disease are two of the commonly diagnosed IBDs. Crohn's disease is a complex, chronic disorder primarily affecting the digestive system. It is the most common disease in North America and Europe. As per the article titled "Understanding Short Bowel Syndrome: Current Status and Future Perspectives," published in 2020, the prevalence of short bowel syndrome (SBS) has increased by more than twofold in the last 40 years. The prevalence was ~30 cases per million in the US and approximately 1.4 cases per million in Europe.
Patients with gastrointestinal diseases are at an elevated risk of nutritional deterioration as they are asked to fast before undergoing diagnostic tests. They might also face nutritional deterioration due to therapeutic dietary restriction and loss of appetite caused by anorexia or altered nutritional requirements, which can be a result of the disease itself. Hence, medical nutrition is recommended for gastrointestinal disease patients as they are unable to ingest food. Further, the parenteral routes are preferred to provide them with essential nutrients. Some people might not show compatibility with tube insertion, which makes meeting their calorie and nutrient needs difficult. In such cases, parenteral nutrition is preferred to ensure their bodies remain hydrated and meet the calorie and other nutrient intake required to maintain physical well-being and function. Parenteral nutrition is indicated when patients cannot meet their nutritional needs as they are diagnosed with diseases such as cancer and chronic diseases, which affect the gastrointestinal tract. This type of nutrition is highly preferred as a therapy option for most patients suffering from severe SBS. Therefore, the growing prevalence of gastrointestinal diseases drives the parenteral nutrition market.
North America Parenteral Nutrition Market Overview
Cancer, heart disease, and other chronic diseases are the major causes of disability and death in the US. Per the National Center for Chronic Disease Prevention and Health Promotion, 6 in 10 people in the country are diagnosed with at least one chronic disease. Additionally, the American Hospital Association estimates that ~133 million people have at least one chronic disease, and that number is expected to reach 170 million by 2030. According to an article titled "Trends in Parenteral Nutrition," published in January 2019; on average, ~34,000 patients receive parenteral nutrition (PN) annually in the US. Enteral tube feeding can be prescribed for treating more than 350 disease conditions in children.
The US government is working on making people aware of enteral and parenteral nutrition through initiatives. For instance, the Feeding Tube Awareness Foundation creates awareness about the adoption of feeding tubes as a lifesaving medical intervention and helps parents of tube-fed children. The foundation celebrated the annual Feeding Tube Awareness Week from February 4, 2019, to February 8, 2019. In addition, a significant rise in US Food and Drug Administration (FDA) approvals of products by market players is likely to play a key role in the market growth during the forecast period. For instance, in March 2022, Fresenius Kabi received FDA approval for its SMOFlipid lipid injectable emulsion. The emulsion is the first and only four-oil lipid emulsion for patients of all ages requiring parenteral nutrition.
Therefore, the growing incidence of chronic diseases requiring medical nutrition, government efforts to raise awareness about the importance of parenteral nutrition, and strategic initiatives by key players support the growth of the parenteral nutrition market in the United States.
North America Parenteral Nutrition Market Revenue and Forecast to 2030 (US$ Million)
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Report Attribute
Details
Market size in 2022
US$ 3,012.06 Million
Market Size by 2030
US$ 4,805.31 Million
Global CAGR (2022 - 2030)
6.0%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Nutrient Type
By End User
Regions and Countries Covered
North America
Market leaders and key company profiles
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North America Parenteral Nutrition Market Segmentation
The North America parenteral nutrition market is segmented based on nutrient type, end user, and country. 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 & minerals. The single dose amino acid solution segment held the largest market share in 2022.
By end user, the North America parenteral nutrition market is segmented into hospitals, clinics, and others. The hospitals segment held the largest market share in 2022.
Based on country, the North America parenteral nutrition market is segmented into the US, Canada, and Mexico. The US dominated the North America parenteral nutrition market share in 2022.
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 are some of the leading players operating in the North America parenteral nutrition market.
1. ICU Medical Inc
2. Grifols SA
3. Pfizer Inc
4. Otsuka Pharmaceuticals Co Ltd
5. Baxter International Inc
6. B Braun SE
7. Fresenius Kabi AG
8. Aculife Healthcare Pvt Ltd
9. Vifor Pharma Management AG
The North America Parenteral Nutrition Market is valued at US$ 3,012.06 Million in 2022, it is projected to reach US$ 4,805.31 Million by 2030.
As per our report North America Parenteral Nutrition Market, the market size is valued at US$ 3,012.06 Million in 2022, projecting it to reach US$ 4,805.31 Million by 2030. This translates to a CAGR of approximately 6.0% during the forecast period.
The North America Parenteral Nutrition Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Parenteral Nutrition Market report:
The North America Parenteral Nutrition Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Parenteral Nutrition Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Parenteral Nutrition Market value chain can benefit from the information contained in a comprehensive market report.
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