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."
Parenteral Nutrition Market Overview:
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.
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 and trauma recovery. The presence of advanced medical facilities along with skilled professionals enables these hospitals to provide effective parenteral nutrition.
North America to Dominate Market due to High Healthcare Expenditure and Large Aging Population
North America's dominance in the global parenteral nutrition market is supported by advanced healthcare infrastructure and high healthcare expenditure. A large aging population with increasing chronic conditions contributes significantly to this trend.
"This report provides insights into key drivers influencing growth: rising incidence of malnutrition and post-operative patients requiring parenteral nutrition; innovations in formulations; restraints like inadequate insurance coverage; opportunities from educational initiatives."
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