Enteral Feeding Formulas Market to Grow with a CAGR of 6.81% Through 2028
Rising
Prevalence of Chronic Diseases and Increasing geriatric population are driving Global
Enteral Feeding Formulas Market in the forecast period 2024-2028.
According
to TechSci Research report, “Enteral Feeding
Formulas Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”, the
Global Enteral Feeding Formulas Market stood at USD 5.89 Billion in
2022 and is anticipated to project steady growth in the forecast period with a
CAGR of 6.81% through 2028. The
world's population is aging at an unprecedented rate, leading to an upsurge in
the geriatric population. Elderly individuals often experience reduced
appetite, swallowing difficulties, and other age-related challenges that hinder
their ability to maintain proper nutrition. Enteral feeding formulas offer a
way to provide essential nutrients to this demographic, thereby playing a vital
role in preventing malnutrition and improving overall quality of life. Advancements in medical and nutritional
sciences have paved the way for the development of more sophisticated and
effective enteral feeding formulas. Manufacturers are investing in research and
development to create formulations that not only fulfill basic nutritional
requirements but also address specific patient needs, such as immune support,
wound healing, and gut health. This technological progress has led to a diverse
range of enteral feeding options, catering to a broader patient base. Hospitalized patients and those in long-term
care facilities often require enteral feeding as part of their treatment plans.
The increasing number of hospital admissions and the growing need for
specialized care in aging populations have propelled the demand for enteral
feeding solutions. Healthcare facilities are now looking for efficient ways to
ensure optimal patient nutrition, leading to a higher uptake of enteral feeding
formulas. Government
initiatives aimed at improving patient care and reducing healthcare costs have
supported the growth of the enteral feeding formulas market. Some regions have
implemented policies that promote early intervention and proper nutrition,
recognizing its role in preventing complications and reducing hospital stays.
These policies have not only increased the awareness of enteral feeding but
also encouraged healthcare providers to consider it as a viable treatment
option.
However, Regulatory
hurdles and the need for rigorous clinical trials to ensure the safety and
efficacy of new materials can slow down the introduction of innovative
products. Additionally, high costs associated with research, development, and production
can affect market accessibility, which may hamper the growth of the market in
the projected period.
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over XX market data Figures spread through XX Pages and an in-depth TOC on
" Global Enteral
Feeding Formulas Market.”
Global
Enteral Feeding Formulas Market is segmented based on Product, Flow Type,
Stage, Indication and End Use.
Based
on Product, the market is divided into Standard Formula and Disease-specific
Formulas. The Standard Formula segment is expected to witness a rise over the
forecast period. This is attributed to the fact that standard formulas are
generally more cost-effective compared to specialized formulas. Given their
widespread use and production in larger quantities, they tend to be more
affordable, making them an attractive option for healthcare institutions
looking to manage costs without compromising on patient care.
Based
on Flow Type, the market is divided into Intermittent Feeding Flow, Continuous
Feeding Flow. The Intermittent Feeding Flow segment is expected to witness a
rise over the forecast period. This is attributed to the fact that intermittent
feeding provides patients with more flexibility and mobility, as they can
detach from the feeding equipment during non-feeding times. This allows them to
engage in physical activities, interact with others, and maintain a more normal
routine. Intermittent feeding is also simpler to administer and manage compared
to continuous feeding. Healthcare providers and caregivers might find it easier
to set up and monitor intermittent feeding schedules.
Based
on Stage, the market is divided into Adults and Pediatrics. The Intermittent
Feeding Flow segment is expected to witness a rise over the forecast period.
This is attributed to the fact that the world's population is aging,
particularly in developed countries. As people age, they often experience
medical conditions or surgeries that may lead to difficulty in consuming
regular food. This drives the demand for enteral feeding formulas as a means of
providing essential nutrients to older adults.
Based
on Indication, the market is divided into Alzheimer’s, Nutrition Deficiency,
Cancer Care, Diabetes, Chronic Kidney Diseases, Orphan Diseases, Dysphagia,
Pain Management, Malabsorption/GI Disorder/Diarrhea, Others. The Others segment
is expected to witness a rise over the forecast period. Because there's a
rising occurrence of different situations such as COPD, respiratory disorders
and cystic fibrosis where enteral nutrition is applicable to restore
nutritional equilibrium, the market is expected to experience substantial
growth during the projected timeframe.
Based
on End Use, the market is divided into Hospitals and Homecare. The Homecare segment
is expected to witness a rise over the forecast period. This is attributed to
the fact that homecare settings are often more cost-effective compared to
hospital stays. Patients or their caregivers can be trained to administer
enteral feeding formulas safely, reducing the need for hospitalization. This
cost savings is attractive to healthcare providers, insurers, and patients
alike.
Major
companies operating in Global Enteral Feeding Formulas market are:
- Abbott
Laboratories Inc.
- Danone
S.A
- Fresenius Kabi AG
- Nestlé S.A.
- VICTUS
Inc.
- Primus Pharmaceuticals, Inc.
- Meiji
Holdings. Co Ltd.
- Mead
Johnson & Company, LLC
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" North America is dominating the
Global Enteral Feeding Formulas Market in the projected period. Companies
operating in North America often have well-established marketing strategies and
distribution networks. These efforts can lead to increased awareness among
healthcare professionals and patients about the benefits of enteral feeding
formulas, driving higher adoption rates. The region has a robust research and
development ecosystem, involving collaborations between academic institutions,
healthcare organizations, and private companies. This fosters innovation in the
field of medical nutrition, leading to the creation of specialized enteral feeding
formulas catering to various patient needs and are creating favorable
conditions to boost the global demand for Enteral Feeding Formulas till 2028.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Enteral Feeding
Formulas Market, 2028- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Product (Standard Formula, Disease-specific
Formulas), By Flow Type (Intermittent Feeding Flow, Continuous Feeding Flow),
By Stage ( Adults, Pediatrics), By Indication (Alzheimer’s, Nutrition
Deficiency, Cancer Care, Diabetes, Chronic Kidney Diseases, Orphan Diseases,
Dysphagia, Pain Management, Malabsorption/GI Disorder/Diarrhea, Others), By
End-Use (Hospitals, Homecare), By Region, By Competition.,
has evaluated the future growth potential of global Enteral Feeding Formulas and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Enteral Feeding Formulas market.”
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