Parenteral Nutrition Market to Surpass Valuation of USD 12,324.1 Million by 2031 | SkyQuest Technology
SkyQuest Technology Consulting Pvt. Ltd.
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SkyQuest Technology Consulting Pvt. Ltd.
The global parenteral nutrition market is growing due to rising chronic diseases and gastrointestinal disorders, with continued expansion expected in the coming years.
Westford, USA, Dec. 05, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global parenteral nutrition market size will reach a value of USD 12,324.1 Million by 2031, with a CAGR of 7.6% during the forecast period (2024-2031). Shorter hospital stays, a lower risk of infection, the development of technically sophisticated parenteral nutrition (PN) products with barcode assistance, and the growing preference of PN over enteral nutrition in COVID-19 patients are some of the factors driving the market's growth. According to the ASPEN20 virtual conference, optimizing results for individuals with COVID-19 still entails proper nutrition. This involved overcoming a host of hurdles throughout the course of the epidemic, including a product shortage in PN, caused by a widespread supply chain failure.
Browse in-depth TOC on the "Parenteral Nutrition Market"
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Consumer, End User, and Region
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Report Highlights
Integration of digital health technologies
Key Market Opportunities
Technological advancements in parenteral nutrition products
Key Market Drivers
Increasing awareness about clinical nutrition
Adults Consumer to Hold Significant Growth due to Increasing Prevalence of Chronic Conditions
The dominance of adult consumers in the global parenteral nutrition market is driven by the increasing prevalence of chronic conditions such as cancer, gastrointestinal disorders, and malnutrition. Long-term nutritional support is essential for such health conditions which create a good demand for parenteral nutrition. Increased chances for adult patients around the globe to receive specialized treatment through improved healthcare infrastructure will continue to fuel the global parenteral nutrition market growth.
Hospitals to Lead Market due to critical role in Managing Severe Medical Conditions
Hospitals dominate the global parenteral nutrition market due to their critical role in managing severe medical conditions requiring specialized care, such as surgeries, trauma recovery, and chronic illnesses. It is the presence of advanced medical facilities along with skilled professionals, which enables these hospitals to provide effective parenteral nutrition; hence, most of the global parenteral nutrition market share is led by that hospital, seeing as they have all the arrangements to provide this essential support to patients regarding nutrition.
North America to Dominate Market due to High Healthcare Expenditure and a Large Aging Population
North America's dominance in the global parenteral nutrition market is supported by advanced healthcare infrastructure, high healthcare expenditure, and a large aging population with increasing chronic conditions. There are good hospitals quite far around here, and they're able to provide expensive, state-of-the-art equipment that allows patients easily to get parenteral nutrition. This, in turn, surely must have increased interest in their procurement at all levels and a clear shift towards the global parenteral nutrition market trends focusing on critical care nutrition.
Parenteral Nutrition Market Insight
Drivers:
Rising Cases of Cancer and Malnutrition
Growing Elderly Population Requires Nutritional Support
Increased Awareness of Parenteral Nutrition
Restraints:
Parenteral Nutrition is Associated with a Risk of Infection
Potential Side Effects Like Liver Dysfunction & Metabolic Imbalances
Stringent Regulations Regarding the Safety & Approval
Analysis of key drivers (Rising incidence of malnutrition, post-operative patients requiring parenteral nutrition, innovations in parenteral nutrition formulations), restraints (Inadequate insurance coverage, overreliance or improper use of parenteral nutrition) opportunities (Educational initiatives to increase awareness, growing emphasis on neonatal care) influencing the growth of parenteral nutrition market.
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the parenteral nutrition market.
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the parenteral nutrition market.
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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