Enteral Feeding Formulas Market

Enteral Feeding Formulas Market Size (2022 to 2027)

The global enteral feeding formulas market size is estimated to grow USD 7.91 billion by 2027 from USD 5.40 billion in 2022, growing at a CAGR of 7.5% during the forecast period.

Enteral nutrition comprises tube feeding. A special liquid food mixture containing protein, carbohydrates (sugar), fats, vitamins, and minerals are given through a tube into the stomach or small bowel. A growing number of hospitals and ambulatory care services embrace enteral nutrition as an effective system of clinical nutrition.

MARKET DRIVERS:

The growth of the global enteral feeding formulas market is primarily driven by the rising incidences of chronic diseases and disorders, rapidly growing geriatric population, increasing healthcare expenditure, rising prevalence of preterm births, and growing demand for home care.

The enteral feeding formula market has been driven by an increase in patients suffering from cardiovascular disorders, cancer, and diabetes, the leading causes of death. According to the WHO, 17.9 million people died as a result of cardiovascular diseases. Also, as the quality of the food provided by tube feeding has improved, the demand for enteral feeding has seen a significant rise in customers, the geriatric population increases, the rate of preterm births rises, and the need for home care rises factors for market growth. In addition, one of the main reasons is that some people are unable to eat their food orally; thus, the need for tube feeding has increased.

The market's core opportunities are improving developing economies' healthcare costs and the rising need for customized medicine. Several companies prioritize product releases, licenses, and other organic development techniques such as trademarks and events. Acquisitions, as well as alliances and agreements, were seen as inorganic growth tactics in the industry. These efforts have opened the way for industry leaders to expand their business and customer base. With the growing demand for enteral feeding formulas in the global premium, market players in the enteral feeding formulas market are expected to benefit from lucrative growth opportunities in the future.

MARKET RESTRAINTS:

Factors such as complications associated with enteral nutrition, patient safety risks, and the occurrence of feeding and medication errors are expected to restrain the growth of the enteral feeding formulas market to a certain extent.

Several different formulations are used for feeding in enteral operations, and giving one formula to anyone who isn't a good fit for it can have negative consequences. Certain patients are allergic to certain proteins and fatty acids, and they must use formulations suitable for their disease. As a result, the market's growth is being hampered by choosing the correct formula. This is the main challenge face by the market.

Impact of COVID-19 on the global enteral feeding formulas market:

The new COVID-19 pandemic is projected to have a major effect on the global enteral feeding system industry. The SARS-CoV2 virus infects the respiratory tract and is also expected to infect the gastrointestinal tract, neurological systems, and kidneys, impairing nutrient distribution among COVID-19 patients. Gastric enteral feeding is recommended for extreme COVID-19 patients, according to the European Society for Clinical Nutrition and Metabolism recommendations on nutrition in the ICU. It should be started within 48 hours of admission to the ICU, preferably using a pump with a flow regulator. As a result, the COVID-19 pandemic has increased the demand for enteral feeding devices, especially among intensive care units, driving the market.

REPORT COVERAGE:

This research report on the global enteral feeding formulas market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2027.

Enteral Feeding Formulas Market - By Product:

• Polymeric
• Monomeric
• Disease-Specific Formulas

Standard formulas (Polymeric and Monomeric) led the industry in the product class, accounting for 54.0 percent of total sales in 2020. The availability of a wide range of standard formulas and increased demand for low-cost nutrient formulations account for this high share. During the forecast period, the disease-specific formulas segment is expected to rise at the fastest pace. Disease-specific formulations are in heavy demand due to the high prevalence of chronic disorders such as cancer, diabetes, and liver failure.

Enteral Feeding Formulas Market - By Stage:

• Adults
• Pediatrics

According to the period, adults accounted for the highest sales share of 88.4 percent in the industry in 2020. One of the key reasons driving the development is the increasing use of tube feeds in adults. Furthermore, the commercial availability of a vast range of tube feeds or products for adults adds to the segment's large market share. Also, the need for tube feeds among pregnant women is growing. In addition, the market is growing due to the rising demand for tube feeds among patients suffering from neurovascular disorders.

Enteral Feeding Formulas Market - By Application:

• Oncology
• Gastroenterology
• Neurology

Based on application, the oncology application segment held the largest share of the enteral feeding formulas market in 2020, primarily due to the high prevalence of malnutrition among cancer patients.

Enteral Feeding Formulas Market - By End User:

• Hospitals
• LTCS
• Homecare

The long-term care facilities are further divided into home care agencies & hospices, nursing homes, and assisted living facilities based on end-user.

Enteral Feeding Formulas Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographically, the North American market is expected to dominate the global enteral feeding formulas market, followed by Europe and Asia-Pacific. Due to the rising burden of chronic diseases such as diabetes, cancer, and other neurological disorders. As a result, it accounted for the highest sales share of 29.7% in 2020. Furthermore, when patients prefer home-based enteral care, the number of visits to hospitals and clinics decreases. Besides that, rising malnutrition is expected to drive up the country's demand for enteral feeding formulas. Due to the growing high acceptance of enteral feeding formula for homecare of the geriatric community, the United States is dominating the market and leading the growth in North America.

Furthermore, the Asia Pacific demand is projected to expand at a healthy rate over the forecast period. One of the major factors driving regional demand is the rising rate of preterm births. India, China, Nigeria, Pakistan, and Indonesia are among the top five countries with the most preterm births, according to the World Health Organization (WHO). In the coming years, the demand is driven mainly by rising healthcare spending and recent developments in healthcare infrastructure in many countries, including China, Japan, India, and Singapore.

KEY MARKET PARTICIPANTS:

Some of the prominent players in the global enteral feeding formulas market profiled in the report are Abbott Laboratories (U.S.), Nestlé S.A. (Switzerland), Danone S.A. (France), Fresenius Kabi AG (Germany), Mead Johnson Nutrition Company (U.S.), B. Braun Melsungen AG (Germany), Hormel Foods, LLC (U.S.), Victus Inc. (U.S.), Meiji Holdings Co., Ltd. (Japan), and Global Health Product Inc. (U.S.).

RECENT MARKET DEVELOPMENTS:

• Nestle Health Science offered China's first ready-to-drink protein-based comprehensive nutrition Foods for Special Medical Purposes (FSMPs) for malnourished people in October 2020.
• Victus Inc. debuted one of its revolutionary products, the Abintra Care, in September 2020. It is referred to as specialized nutrition for immune system support.
• Otuska Pharmaceutical Factory Inc. to introduce Enoras Liquid, an enteral polymeric enteric nutrition, in June 2020.
• Hormel Foods was named to 3BL Media's 100 Best Corporate Citizens list in June 2020, which recognizes exceptional environmental, social, and governance (ESG) transparency and performance among the United States' 1,000 biggest publicly listed companies. This boosts the company's credibility and establishes a favorable image in the marketplace.
• Nestle Health Sciences built a global research and development center in Bridgewater, New Jersey, in December 2018. It aided in the advancement of consumer health care, medical nutrition, and innovative treatments.
• Racol-NF liquid, which is intended for enteral feeding through tubes and oral administration, was launched by Otsuka Pharmaceutical Factory, Inc. (Japan) in June 2018. Depending on the patients' intake, Racol-NF liquid formula is fortified with protein, carbs, minerals, vitamins, lipids, and trace elements.
• Real Food Blends released a new breakfast meal with eggs, apples, and oats in October 2017. This meal is for persons who are unable to eat orally. Consumers will benefit from the product's launch because it has a strong nutritional profile.