The size of the global enteral feeding formulas market was worth USD 5.0 billion in 2020. It is forecasted to be growing at a CAGR of 7.95% to reach USD 7.4 billion by 2025.
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 global enteral feeding formulas market is determined 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, which are 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 are the factors for market growth. 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, product 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.
There are several different formulations 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:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Analysed |
By Product, Stage, Application, End User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
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 2025.
Enteral Feeding Formulas Market - By Product:
Standard formulas (Polymeric and Monomeric) led the industry in terms of 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:
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. The market is growing due to the rising demand for tube feeds among patients suffering from neurovascular disorders.
Enteral Feeding Formulas Market - By Application:
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:
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:
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, North America led the enteral feeding formulas market. 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 demand for enteral feeding formulas in the country. 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 factors such as 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.).
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Polymeric
5.1.2 Monomeric
5.1.3 Disease-Specific Formulas
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Stage
5.2.1 Adults
5.2.2 Pediatrics
5.2.3 Y-o-Y Growth Analysis, By Stage
5.2.4 Market Attractiveness Analysis, By Stage
5.2.5 Market Share Analysis, By Stage
5.3 Application
5.3.1 Oncology
5.3.2 Gastroenterology
5.3.3 Neurology
5.3.4 Y-o-Y Growth Analysis, By Application
5.3.5 Market Attractiveness Analysis, By Application
5.3.6 Market Share Analysis, By Application
5.4 End Users
5.4.1 Hospitals
5.4.2 LTCS
5.4.3 Home Care
5.4.4 Y-o-Y Growth Analysis, By End Users
5.4.5 Market Attractiveness Analysis, By End Users
5.4.6 Market Share Analysis, By End Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.3.5 By End Users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Stage
6.1.4.4 By Application
6.1.4.5 By End Users
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Stage
6.1.5.4 By Application
6.1.5.5 By End Users
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Abbott Laboratories
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Nestle S.A.
8.3 Danone S.A.
8.4 Fresenius Kabi AG
8.5 Mead Johnson Nutrition Company
8.6 B. Braun Melsungen AG
8.7 Hormel Foods
8.8 LLC
8.9 Victus Inc.
8.10 Meiji Holdings Co. Ltd.
8.11 Global health Product Inc.
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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