Thermophotovoltaic (TPV) energy converters hold substantial potential in converting thermal radiation from high-temperature emitters into electrical energy through photovoltaic (PV) cells, offering applications ranging from solar energy harvesting to waste heat recovery. Near-field TPV (NF-TPV) devices, focused on enhancing power output density (POD), exhibit unique potential by harnessing photon tunneling. However, this potential can be mitigated by additional losses arising from high photocurrent densities and corresponding scalability issues. This study comprehensively investigates the effectiveness of multi-junction-based NF-TPV devices, accounting for additional losses. We propose two approximative expressions to quantify the impact of additional losses and characterize current density-voltage curves. Verification against rigorously optimized results establishes a criterion for effective performance. Our method provides precise POD estimations even for devices with 10 or more subcells, facilitating performance analysis across parameters like vacuum gap distance, cell width, emitter temperature, and the number of subcells compared to far-field counterparts. This research outlines a roadmap for the scalable design of NF-TPV devices, emphasizing the role of multi-junction PV cells. The analytical framework we developed will provide vital insights for future high-performance TPV devices.