The Enteral Feeding Formulas Market is forecasted to grow from USD 6.16 Billion in 2020 to USD 10.97 Billion by 2028, at a CAGR of 7.5%, during the forecast period. The market is primarily driven by the growing geriatric population, chronic diseases, and premature births, high spending on health care and high demand for home care.
Increase in patients suffering from cardiovascular diseases, cancer and diabetes, the leading disease-causing death, has driven the enteral formula market. Continuous clinical trials show the growth of new developments in products. Another key factor that positively impacts the growth of tube feeds is the increasing number of new product launches.
The enteral tube feeding is used for the administration of nutrients through the intestine or the stomach through the tubes and this applies to those patients who are unable to meet the nutrient requirements or are unable to orally consume nutrients. Various types of tubes, such as nasojejunal tube, nasogastric tube, gastrostomy and jejunostomy, are available for enteral formula feeding.
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Large varieties of formulas are available to feed a person in enteral procedures, selection of a particular method for a person, who is not suitable for such a formula, results in various side effects. Few people are allergic to specific proteins, fatty acids (milk and lactose, maize, eggs, tree nuts, soy, fish, and others) and are required to take formulas that are appropriate for their condition. Consequently, complexity in selecting the right method reduces market growth.
Further key findings from the report suggest:
- The Enteral Feeding Formulas Market is forecasted to grow from USD 6.16 Billion in 2020 to USD 10.97 Billion by 2028, at a CAGR of 7.5%, during the forecast period. The market is primarily driven by the growing geriatric population, chronic diseases, and premature births, high spending on health care and high demand for home care.
- Based on application, oncology dominated the market in 2020 with more than 38% market share. It is expected to grow the largest at USD 3.68 Billion in 2028, at a CAGR of 7.9% during the forecast period. The increasing incidence of cancer of the head and neck contributes to its increased revenue share due to the swallowing difficulties faced by these patients. In patients with head and neck cancer, significant weight loss is reported, which in turn drives demand for tube feeds. Nearly 40-50% of patients with head and neck cancer suffered from malnutrition before starting treatment.
- The market for adults is expected to grow the largest at USD 7.26 Billion in 2028, at a CAGR of 8.8% during the forecast period. One of the crucial factors driving growth is increased adoption of tube feeds among adults. Moreover, the commercial availability of adults for a large number of tube feeds also contributes to its increased share of revenue.
- The market for standard formula is expected to grow the largest at USD 6.23 Billion in 2028, at a CAGR of 8% during the forecast period. Growing micro and macro-nutrient deficiency among hospital patients during both pre and post-surgery stimulates their demand. These tube feeds commonly contain proteins and polysaccharides for patients with no difficulty digesting and absorbing nutrients. The availability of wide range of standard formulas in combination with increased demand for low-cost nutrient formulations drives their growth
- The market for North America is expected to reach USD 3.39 Billion in 2028, at a CAGR of 7.9% during the forecast period. Growing chronic disease burden like diabetes, cancer, and other neurological conditions are driving their regional demand. Nearly 34 million Americans suffered from diabetes in 2020. Favorable reimbursement scenario encourages patients to adopt tube feeds as enteral nutrition is covered by claims of Medicare.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Enteral Feeding Formulas market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
- Fresenius Kabi AG (Germany)
- Victus Inc. (US)
- B. Braun Melsungen AG (Germany)
- Global Health Product Inc. (US)
- Abbott Laboratories (US)
- Nestle (Switzerland)
- Danone S.A. (France)
- Mead Johnson Nutrition Company (US)
- Hormel Foods, LLC (US)
- Meiji Holdings Co., Ltd. (Japan)
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Enteral Feeding Formulas Market Segmentation:
Type Outlook:
- Standard Formula
- Specialty Formula
- Blenderized Formula
- Elemental Formula
- Semi-Elemental Formula
- Polymeric Formula
- Fiber Supplemented Formula
- Others
Age Outlook:
- Adult
- Infants
Form Outlook:
- Powder
- Liquid
- Others
Flavor Outlook:
- Vanilla
- Strawberry
- Butter pecan
- Unflavored
Application Outlook:
- Oncology
- Neurology
- Diabetes
- Critical care
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Some essential purposes of the Enteral Feeding Formulas market research report:
- Vital Developments: Custom investigation provides critical improvements to the Enteral Feeding Formulas market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
- Market Characteristics: The report contains Enteral Feeding Formulas market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
- Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Enteral Feeding Formulas market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Enteral Feeding Formulas market.
- Convincingly, the Enteral Feeding Formulas report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Enteral Feeding Formulas market.
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