At 5.5% CAGR, Global Enteral Feeding Formulas Market Size & Share Will Hit US$ 8024.1 Million by 2028 | Industry Trends, Demand, Growth, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, Aug. 3, 2022 /PRNewswire/ -- As per Zion Market Research study, The global enteral feeding formulas market size was worth USD 5,819.5 million in 2021 and is estimated to grow to USD 8,024.1 million by 2028, with a compound annual growth rate (CAGR) of roughly 5.5% over the forecast period.
Enteral Feeding Formulas Market: Overview
The term "enteral feeding" describes a procedure in which food is ingested through the GI system. The gastrointestinal tract comprises the stomach, esophagus, intestines, and mouth. The small intestine or stomach receives the nourishment that is ingested through a tube. This form of feeding can serve as the main nutrition source or a complete replacement for calories. In situations like cancer, eating difficulties, severe illness, stroke attacks, and life-threatening injuries, nutrition is considered. With an increase in the elderly population, increased occurrence of preterm birth, rising healthcare costs, and rising demand for in-home care, the global market for enteral feeding formula is expanding. The increased need for enteral nutrition formulae for older persons at home will also increase, which will spur market expansion. The sector is expanding because nursing homes and home health organizations choose enteral feeding formulae for post-surgery patients. Additionally, more neonatal critical care units are anticipated to fuel development. The development of the global enteral feeding formulas market is anticipated to be somewhat constrained by issues related to enteral nutrition, threats to patient safety, and the possibility of medication and feeding errors.
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Key Industry Insights & Findings of the Enteral Feeding Formulas Market Reports:
- As per the analysis shared by our research analyst, the Enteral Feeding Formulas Market is expected to grow annually at a CAGR of around 5.5 % (2022-2028).
- Through the primary research, it was established that the Enteral Feeding Formulas Market was valued at approximately USD 5819.5 million in 2021 and is projected to reach roughly USD 8024.1 million by 2028.
- The primary factors driving the global market for enteral feeding formulas are the escalating rate of preterm births, rising healthcare costs, escalating senior population, and expanding demand for homecare.
- North America held the largest share of the global enteral feeding formula market. The increased number of preterm births, growing geriatric population, and technological developments are to note for this dominance.
- The market growth in this region was fueled by high disposable income, an advanced healthcare system, the approval of new products, and increasing awareness.
- By 2060, it is anticipated that there will be more than twice as many Americans over the age of 65. The prevalence of chronic diseases like cancer and diabetes would rise as the geriatric population grew, lengthening patient stays in the hospital.
Zion Market Research published the latest report titled "Enteral Feeding Formulas Market By Product (Standard Formulas and Disease-Specific Formulas), By Stage (Adults and Pediatrics), By Application (Oncology, Gastroenterology, Neurology, Diabetes, Critical Care, and Other Applications), By End-User (Hospitals and Long-term Care Facilities), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Enteral Feeding Formulas Market: Growth Drivers
- The prevalence of chronic illnesses is driving market growth.
The market for enteral feeding formulas is anticipated to rise as chronic diseases like cardiovascular disease, cancer, diabetes, and coronary obstructive pulmonary disorders (COPD) rise. These chronic illnesses necessitate a lengthier hospital stay and recovery period for treatment. Patients who have trouble swallowing food are given external nutrients through the tube. Thus, it is anticipated that an increase in the prevalence of chronic diseases will fuel global enteral feeding formulas market expansion over the projected period. Additionally, the market for enteral feeding has seen a sharp rise in consumers due to the higher quality of the diet offered by tube feeding. Furthermore, as the number of senior citizens grows, so does the demand for tube feeding because these people are unable to eat orally.
Enteral Feeding Formulas Market: Restraints
- Presence of allergic content in the product is expected to restraint the market growth.
A wide variety of formulas are available for feeding during enteral procedures, and using a formula on someone who is not a good candidate for it can have negative side effects. Some patients must take formulae that are appropriate for their condition because they have allergies to specific proteins and fatty acids (food allergies from offenders including milk & lactose, maize, eggs, tree nuts, soy, wheat and gluten, seafood, and shellfish). Thus, choosing the best recipe is more difficult, which slows market expansion.
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Global Enteral Feeding Formulas Market: Segmentation
- The global enteral feeding formulas market has been segmented into product, stage, application, end user, and region.
Based on product, the worldwide enteral feeding formulas market is segmented into standard formulas and disease-specific formulas. Standard formulas dominated a share of 53.7% in the market in 2021. This significant market share can be due to standard formulae' widespread use and cost-effectiveness among all patient groups. Additionally, it is projected that the simple accessibility of polymeric nutritional complete formulae, which are appropriate for usage in both healthcare facilities and at home, will hasten segment growth over time.
Based on stage, the global enteral feeding formulas market is segmented into adults and pediatrics. The adult segment had the biggest revenue share at 88.6%. This market category is also predicted to expand in the upcoming years at the quickest CAGR. The significant market share can be due to the rising use of enteral tube feeding among individuals with a variety of illnesses, including chronic liver disease, multiple sclerosis, diabetes, cancer, and chronic obstructive pulmonary disease (COPD).
Based on application, the worldwide enteral feeding formulas market is segmented into oncology, gastroenterology, neurology, diabetes, critical care, and other applications. In the market for enteral feeding formulas, the oncology segment had a significant market share in 2021. Cancer cachexia, which causes insulin resistance, increased lipolysis with loss of body fat, accelerated protein turnover, and loss of muscle mass, as well as loss of appetite and weight, affects most cancer patients. Additionally, as it becomes exceedingly difficult for cancer patients to swallow food, supplying nourishment is essential for improving their clinical condition. Nutrition is given through enteral feeding tubes as the treatment progresses to help the patient keep their body mass.
The global enteral feeding formulas market is segmented based on end-users into hospitals and long-term care facilities. In 2021, the long-term care facilities had the most significant revenue share of 56.3%. The delivery of enteral nourishment to patients who need long-term, life-sustaining care outside of the hospital is expected to expand, which will hasten the growth of long-term care facilities. Another important aspect influencing the segment's growth is the fact that tube feeding is frequently the sole choice for people with chronic illnesses and disorders.
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List of Key Players in Enteral Feeding Formulas Market:
- Abbott Laboratories
- Nestlé S.A.
- Danone S.A.
- Mead Johnson Nutrition Company
- Fresenius Kabi AG
- Hormel Foods LLC
- Global Health Product Inc.
- B. Braun Melsungen AG
- Meiji Holdings Co.Ltd.
- Victus Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Enteral Feeding Formulas Market?
- What are the key driving factors propelling the Enteral Feeding Formulas Market forward?
- What are the most important companies in the Enteral Feeding Formulas Market Industry?
- What segments does the Enteral Feeding Formulas Market cover?
- How can I receive a free copy of the Enteral Feeding Formulas Market sample report and company profiles?
Report Scope:
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Recent Developments
- In September 2020, Victus, Inc. introduced "Abintra Care," specialized nutrition for daily immune support, which included a blend of important nutrients like vitamin C, antioxidants, zinc, and selenium. Additionally, it is fortified with 19g of protein overall, including whey protein and the conditionally necessary amino acids glutamine and arginine, which have been demonstrated to boost immune cell replication and protein synthesis.
Regional Dominance:
- North America dominated the enteral feeding formulas market in 2021.
North America held the largest share of the global enteral feeding formula market. The increased number of preterm births, growing geriatric population, and technological developments are to note for this dominance. Furthermore, the market growth in this region was fueled by high disposable income, an advanced healthcare system, the approval of new products, and increasing awareness. The enteral feeding formulae market is expanding rapidly, particularly in the United States. By 2060, it is anticipated that there will be more than twice as many Americans over the age of 65. The prevalence of chronic diseases like cancer and diabetes would rise as the geriatric population grew, lengthening patient stays in the hospital. Additionally, the WHO estimates that 15 million kids are born each year prematurely, and this number is still growing. As a result, during the course of the forecast, the market is anticipated to expand further in this area.
Global Enteral Feeding Formulas Market is segmented as follows:
Enteral Feeding Formulas Market: By Product Outlook (2022-2028)
- Standard Formulas
- Disease-specific Formulas
Enteral Feeding Formulas Market: By Stage Outlook (2022-2028)
- Adults
- Pediatrics
Enteral Feeding Formulas Market: By Application Outlook (2022-2028)
- Oncology
- Gastroenterology
- Neurology
- Diabetes
- Critical Care
- Other Applications
Enteral Feeding Formulas Market: By End User Outlook (2022-2028)
- Hospitals
- Long-term Care Facilities
Enteral Feeding Formulas Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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