Press release
Global Enteral Feeding Formulas Market To Be Driven By Increasing Number Of Chronic Diseases During The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast Historical Market Size (2021): USD 7.1 billion
Forecast CAGR (2023-2028): 7.1%
Forecast Market Size (2027): USD 10.8 billion
The global market for enteral feeding formulae is primarily driven by the increasing occurrences of chronic diseases and disorders, the quickly expanding senior population, rising healthcare expenditures, prevalence of preterm births, and demand for homecare. However, problems associated with enteral nutrition, patient safety issues, and the possibility of feeding and medication errors are anticipated to hinder the market for enteral feeding formulas to some extent.
In addition to technology improvements and product innovations, other factors contributing to the expansion of the market for enteral feeding formulas are as follows: The expansive product portfolio and robust product developments provided by market leaders have a beneficial effect on market growth.
Industry Definition and Major Segments
Enteral feeding is the process of ingesting food through the digestive tract. The digestive system consists of the mouth, esophagus, stomach, and intestines. It may also refer to nutrients administered straight to the stomach or small intestine via a tube. This phrase is frequently substituted for tube feeding in the medical field. It is administered to individuals whose injuries prevent them from consuming a normal diet orally, but whose gastrointestinal tract remains functional. The tube feeding enables the patient to get nutrition and maintain an active GI tract.
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By product, the market is divided into:
• Standard Formula
• Disease Specific Formula
On the basis of flow type, the market is bifurcated into:
• Intermittent Feeding Flow
• Continuous Feeding Flow
Based on stage, the market is divided into:
• Adults
• Paediatrics
By indication, the market is divided into:
• Alzheimer's
• Nutrition Deficiency
• Cancer Care
• Diabetes
• Chronic Kidney Diseases
• Orphan Diseases
• Dysphagia
• Pain Management
• Malabsorption/GI Disorder/Diarrhoea
• Others
By end user, the industry is categorized into:
• Hospitals
• Homecare
By region, the industry is categorized into:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The market for enteral feeding formulae is anticipated to be dominated by North America because to reasons such as the rapidly aging population, the rising prevalence of preterm birth, and the increasing number of chronic disease patients. Standard formulas dominated the market and generated the most income based on product type.
The large share is a result of the availability of a wide variety of standard formulations and the rising need for low-cost nutrient formulations. In addition, the demand for regular tube feedings is substantial among patients with volume sensitivity or fluid limits. Among these ailments include renal failure, congestive heart failure, and Syndrome of Inappropriate Antidiuretic Hormone (SIADH). The homecare segment has the biggest revenue share depending on end user.
The segment is anticipated to have the highest CAGR during the projection period. One of the important contributors to the growth of this segment is the increasing number of patients receiving enteral feeding at home as a result of growing knowledge about complete and balanced nutrition.
Increase in the prevalence of chronic diseases such as cancer, stroke, multiple sclerosis, dementia, chronic liver disease, chronic obstructive pulmonary disease, and diabetes is anticipated to boost the expansion of the enteral feeding formulae market. Rise in preterm deliveries, which may require enteral feeding to meet nutritional needs under a variety of circumstances, is also a factor in the market's expansion.
Key Market Players
The major players in the market are Danone S.A., Nestlé S.A., Abbott Nutrition, Mead Johnson & Company, LLC, Fresenius Kabi AG, among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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