Enteral Feeding Formulas Industry Overview
The global enteral feeding formulas market size is expected to reach USD 9.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. The growing prevalence of chronic diseases such as cancer, stroke, multiple sclerosis, dementia, chronic liver disease, Chronic Obstructive Pulmonary Disease (COPD), and diabetes is projected to drive the demand for products that support patients with oral intake issues. In addition, the rise in preterm births is one of the significant factors boosting the demand for enteral feeding formulas to meet the nutritional requirements of newborns.
Based on product, the standard formulas segment dominated the market and accounted for the largest revenue share of 54.0% in 2020. This high share is attributable to the availability of a vast variety of standard formulas coupled with increased demand for low-cost nutrient formulations. In addition, the demand with respect to standard tube feeds is significant among the volume-sensitive patients or the patients on fluid restrictions. Such conditions include renal failure, congestive heart failure, and Syndrome of Inappropriate Antidiuretic Hormone (SIADH).
Enteral Feeding Formulas Market Segmentation
Grand View Research has segmented the global enteral feeding formulas market based on product, flow type, stage, indications, end-user, and region:
Based on the Product Insights, the market is segmented into Standard formula and Disease-specific formula.
- Standard formulas dominated the market and accounted for the largest revenue share of 54.0% in 2020. This high share is attributable to the availability of a wide variety of standard formulas coupled with increased demand for low-cost nutrient formulations.
- Disease specific formulas segment is anticipated to grow at the fastest rate during the forecast period. The high prevalence of chronic diseases, such as cancer, diabetes, and liver failure, is propelling the demand for disease-specific formulas.
Based on the Flow Type Insights, the market is segmented into Intermittent feeding flow and Continuous feeding flow.
- In 2020, based on flow type, intermittent feeding flow type accounted for the highest revenue share of 94.5% in the market. This is because intermittent feeding has shown better tolerance in patients as compared to bolus feeding.
- The continuous feeding flow type segment is expected to witness the highest CAGR over the forecast period. The lower feeding rate of continuous feeding flow as compared to intermittent feeding is one of the major factors responsible for the lucrative growth of the segment.
Based on the Stage Insights, the market is segmented into Adult and Pediatric.
- In 2020, based on stage, the adults segment accounted for the highest revenue share of 88.4% in the market. The segment is projected to witness the fastest CAGR over the forecast period. The rising adoption of tube feeds in adults is one of the crucial factors driving the growth.
Based on the Indication Insights, the market is segmented into Alzheimer’s, Nutrition Deficiency, Cancer Care, Diabetes, Chronic Kidney Diseases, Orphan Diseases, Dysphagia, Pain Management, Malabsorption/GI Disorder/Diarrhea and Others.
- Based on indications, others' segment dominated the market and accounted for the largest revenue share of 42.7% in 2020. The segment is followed by cancer care, which accounted for a significant share of 24.0% in terms of revenue in 2020.
Based on the End-user Insights, the market is segmented into Hospitals and Home Care.
- The homecare segment accounted for the highest revenue share of 56.1% in the market. The segment is projected to witness the fastest CAGR over the forecast period. The increasing number of patients that receive home enteral feeding due to growing awareness about complete and balanced nutrition is one of the key factors contributing to the growth of this segment.
Enteral Feeding Formulas Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
The market is characterized by the presence of leading players with strong product portfolios, global presence, and financial performance.
Some prominent players in the global Enteral Feeding Formulas market include
- Abbott
- Danone SA
- Fresenius Kabi
- Nestlé
- Victus, Inc.
- Primus Pharmaceuticals, Inc.
- Meiji Holdings. Co., Ltd.
- Rickett Benckiser Group Plc.
Order a free sample PDF of the Enteral Feeding Formulas Market Intelligence Study, published by Grand View Research.
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The Global Enteral Feeding Formulas Market research report offers accurate insights for the growth prospects of the Enteral Feeding Formulas market in the forecast years 2020-2027.
The report is an all-inclusive study of the Enteral Feeding Formulas market that offers the readers a better view of the current and emerging market trends through a thorough analysis of the market size, growth trends, supply and demand ratio, market share, sales network and distribution channels, and other key elements.Furthermore, the report is furnished with the current market scenario with regards to the COVID-19 pandemic.
The global public health emergency has disrupted the lives of everyone across the globe.
It has also had a substantial impact on the Enteral Feeding Formulas industry as global supply chains have been disrupted, and the financial scenario is tight.
The report assesses the initial and future impact of the pandemic on the market and its key segments to offer an accurate futuristic outlook for remuneration in a post-COVID-19 scenario.Get a sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/1359Scope of the Market Report: The report offers a holistic overview of the Enteral Feeding Formulas industry that offers all the essential information.
Furthermore, the market is segmented into product types, applications, end-user industries, and regions.
