Enteral Feeding Formula Market Anticipates US$13.5 Billion by 2033, Projecting a 7.1% CAGR from 2023 to 2033, According to Persistence Market Research
Discover key segments of the Enteral Feeding Formula Market: Product Type, Flow Type, Stage, Indication, and Region. Explore nuances across North America, Latin America, Europe, APAC, and MEA. Learn about Standard and Disease-specific Formulas, Intermittent and Continuous Feeding Flows, and their applications in Adult and Pediatric care. Stay updated on the dynamic landscape of Enteral Feeding Formulas worldwide
New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Enteral feeding involves delivering nutrition through the gastrointestinal route, either via a tube or orally. Tube feeding is the predominant method associated with enteral nutrition, offering an alternative to traditional diets or solid food intake. Medical professionals, especially for chronically ill patients, typically prescribe enteral feeding, utilizing various commercialized formulas.A recent market analysis by Persistence Market Research reveals that the global sales of Enteral Feeding Formula Market reached US$ 6.4 billion in 2022. Projections indicate a Compound Annual Growth Rate (CAGR) of 7.1% from 2023 to 2033, anticipating a market valuation of US$ 13.5 billion by 2033. The Standard Formula is poised to be the top revenue-generating segment, with an expected CAGR of over 7.8% during 2023 – 2033.
Several factors are driving this market growth, including increased healthcare spending, a rise in preterm births globally, a growing aging population requiring enteral feeding, and an uptick in chronic diseases such as diabetes, cancer, gastrointestinal diseases, and neurological disorders. Additionally, heightened awareness of enteral nutrition benefits, advancements in healthcare facilities in emerging countries, and the cost-effectiveness and nutritional advantages leading to a shift from parenteral to enteral nutrition contribute to market expansion. The adoption of enteral feeding formulas in long-term care facilities is also expected to fuel growth.
However, challenges persist, such as patient safety concerns, inadequate reimbursements in certain developing and underdeveloped countries, and a shortage of trained physicians globally, posing obstacles to the market's continued development.
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*Market Scope:*
* Report Coverage* * Details*Market Revenue 2023 US$ 6.8 BillionEstimated Revenue 2033 US$ 13.5 BillionGrowth Rate - CAGR 7.1% Forecast Period 2023 – 2033No. of Pages 250 PagesMarket Segmentation · By Product Type
· By Flow Type
· By Stage
· By Indication
· By Region
Regions Covered · North America
· Latin America
· Europe
· APAC
· MEA
Key Companies Profiled · Danone
· Nestle Nutrition
· Abbott Nutrition
· Mead Johnson & Company
· Fresenius Kabi AG
· B. Braun Melsungen AG
· Otsuka Holdings Co. Ltd.
· Nutritional Medicinals, LLC
*Market Dynamics:*
*Drivers*
The surge in enteral feeding formula demand is primarily attributed to the growing elderly population and the prevalence of age-related health conditions. Additionally, the increased need for enteral nutrition formulas for older individuals at home, combined with rising global awareness of balanced diets, is fostering a rise in manufacturers, contributing significantly to market expansion. Furthermore, the escalating deficiency of both macro and micronutrients among hospitalized patients during pre and post-surgery phases is expected to drive market growth in the forecast period. Moreover, the adoption of enteral feeding formulas to meet the nutritional needs of infants is gaining traction due to the rising incidence of preterm births, further fueling market growth.
*Restraints*
Despite the notable growth drivers, several constraints challenge the enteral feeding formula market. One significant limitation is the potential for patient safety risks associated with the administration of enteral nutrition. Additionally, some developing and underdeveloped countries face hurdles due to insufficient or lack of reimbursements, hindering the accessibility of enteral feeding solutions for a broader population. Furthermore, a shortage of trained physicians on a global scale poses a significant obstacle to the market's expansion, as it can impact the proper prescription and administration of enteral feeding formulas. These restraints underscore the need for addressing safety concerns, enhancing reimbursement structures, and bolstering healthcare workforce training to ensure sustained and equitable market development.
*Opportunities*
Opportunities for the enteral feeding formula market abound, driven by various factors. The rise in healthcare expenditure, particularly due to the development of affordable and effective diabetes therapy, coupled with increased government spending on healthcare, is poised to propel market growth in the forecast period. This surge in healthcare expenditures, linked to effective health interventions, not only enhances labor supply and productivity but also contributes to the overall increase in GDP, thereby stimulating market growth. The expanding penetration of diagnostic labs and healthcare units, particularly in emerging markets, is another key opportunity contributing to market advancement.
Moreover, the heightened awareness among healthcare professionals regarding hospital-associated malnutrition presents a promising avenue for market growth. The increased number of neonatal intensive care units and a growing demand for personalized medicine further contribute to the positive outlook. These opportunities collectively create a conducive environment for the enteral feeding formula market to thrive in the foreseeable future.
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*Challenge*:
Inadequate Reimbursements for Enteral Nutrition While developed countries like the US, Canada, Germany, France, the UK, and Japan provide reimbursements for enteral nutrition therapy, developing countries across the Asia Pacific, Latin America, and the Middle East face challenges due to insufficient reimbursements for enteral feeding. This limitation poses a significant obstacle to the widespread adoption of enteral feeding practices in these developing regions. Moreover, the anticipated reduction in federal funding and subsequent reimbursement cuts for home healthcare services over the next five years are expected to compound challenges for stakeholders in the market.
*Top 6 Key Trends in the Enteral Feeding Formula Market:*
1. Growing Demand for Disease-Specific Formulas: There is a noticeable trend towards an increased demand for disease-specific formulas, reflecting a shift towards personalized nutrition catering to specific medical conditions.
2. Preference for Continuous Feeding Flow: Continuous feeding flow is gaining popularity as a preferred method, indicating a growing recognition of its advantages and effectiveness in certain patient populations.
3. Pediatric Nutrition Focus: The market is witnessing a significant focus on pediatric nutrition, reflecting the importance of addressing the unique dietary needs of children through specialized enteral feeding formulas.
4. Expanding Indications Portfolio: The inclusion of diverse indications such as Alzheimer’s, pain management, and orphan diseases in enteral feeding formulas signifies a broader approach to catering to various healthcare needs.
5. Geographic Expansion: As evidenced by the analysis of regional segments, there is a trend towards geographic expansion, particularly in the Asia Pacific region, driven by an increasing number of malnutrition cases and strategies to improve enteral nutrition practices.
6. Rising Awareness of Tube Feeding Benefits: The growing understanding among consumers regarding the benefits of tube feeding for managing chronic health issues is contributing to market growth, indicating a positive shift in consumer perceptions.
These key trends collectively shape the dynamics of the enteral feeding formula market, reflecting evolving consumer preferences, technological advancements, and a broader scope in addressing diverse healthcare needs.
*Key Players in the Enteral Feeding Formula Market:*
· Abbott Laboratories
· Nestlé Health Science
· Danone S.A.
· Fresenius Kabi AG
· B. Braun Melsungen AG
· Meiji Holdings Co., Ltd.
· Victus, Inc.
· Global Health Products, Inc.
· Medtrition Inc.
· Reckitt Benckiser Group plc
These companies play a significant role in the enteral feeding formula market, contributing to product innovation, market expansion, and meeting the diverse nutritional needs of patients across various health conditions and age groups.
*Segment Analysis of the Enteral Feeding Formula Market:*
*By Category*
The Enteral Feeding Formula Market, categorized by age group, can be further divided into Adults and Pediatrics. In 2022, the Adults segment claimed a predominant market share, primarily driven by the increasing elderly population, which is more susceptible to chronic ailments. The World Health Organization (WHO) predicts that by 2030, over 16% of the population will be aged 60 and above, facing common age-related complications such as liver failure, pulmonary disease, diabetes, and renal failure. However, the Pediatrics segment is anticipated to exhibit the highest growth, boasting a CAGR of 7.3% during the forecast period from 2023 to 2033. This growth is attributed to the escalating instances of preterm births, affecting approximately 15 million babies annually. Studies conducted by the National Institutes of Health (NIH) indicate that Enteral Feeding has become the preferred method for nutrient provision in preterm infants due to its significant nutritional and non-nutritional benefits.
*By Form*
The Enteral Feeding Formula Market, categorized by forms, includes Powder, Liquid, and Others. In 2022, the Liquid segment emerged as the dominant force in the market. Furthermore, it is poised to be the fastest-growing segment, projecting a CAGR of 7.8% over the forecast period from 2023 to 2028. This growth can be attributed to the ease of absorption and reduced likelihood of causing tube occlusions associated with liquid formulations. Liquid formulas can be administered through enteral (gut) routes to provide either partial or sole nutrient sources. According to the National Center for Biotechnology Information (NCBI), incorporating standard enteral liquid feeding formulas with pre-administered LMP solutions has proven effective in preventing gastroesophageal reflux events in severe Percutaneous Endoscopic Gastrostomy (PEG) patients.
*By Geography*
The Enteral Feeding Formula Market, segmented by geography into North America, Europe, Asia-Pacific, South America, and the Rest of the World, witnessed North America commanding a substantial market share of 35% in 2022. This dominance is primarily attributed to the escalating burden of chronic diseases like diabetes, cancer, and other neurological conditions. Additionally, the region has observed an increase in preterm births, with data from the Centers for Disease Control and Prevention (CDC) indicating a 4% rise in 2021. On the other hand, Asia-Pacific is anticipated to be the fastest-growing segment throughout the forecast period from 2023 to 2033. This growth is fueled by the rising prevalence of diabetes and cancer in the region. Moreover, Asia's aging population is outpacing that of any other global region, with the Census Bureau projecting nearly a tripling of older Asian individuals over the next four decades.
*Regional Segmentation Analysis: *
The market has been examined across various regions, including Europe, South America, Asia Pacific, North America, the Middle East, and Africa. North America has emerged as the leading global enteral feeding formula market, capturing a substantial 38.49% share of market revenue in 2022. The dominance of North America in the enteral feeding formula market can be attributed to the growing geriatric population. Additionally, the region's market growth is propelled by the implementation of guidelines advocating the proper adoption of enteral nutrition for both senior citizens and neonatal care. The presence of a significant number of product manufacturers, coupled with the increasing aging population, is anticipated to further drive market growth in this region.
Asia Pacific is poised to exhibit the fastest growth during the forecast period, driven by a rising number of malnutrition cases and initiatives to enhance enteral nutrition practices. Furthermore, the increasing awareness among consumers regarding the benefits of tube feeding for addressing chronic health issues is contributing to the market's growth in the Asia Pacific region.
*Future Outlook:*
The future outlook of the enteral feeding formula market is influenced by several key factors. Ongoing technological advancements are expected to contribute to the development of more specialized and effective formulas, addressing a broader spectrum of medical conditions. The global aging population, on the rise, is anticipated to drive an increased demand for enteral feeding formulas, particularly in regions with higher concentrations of elderly individuals. Furthermore, a growing awareness of the benefits of enteral nutrition, both among healthcare professionals and the general public, is likely to foster market growth. Geographic expansion, especially into emerging markets with improving healthcare infrastructure, may also play a pivotal role. The trend toward personalized medicine is expected to extend to nutrition, leading to the creation of more customized enteral feeding formulas tailored to individual patient needs. Changes in the regulatory landscape, reimbursement policies, and healthcare guidelines will continue to shape market dynamics, influencing the adoption and availability of enteral feeding formulas. To obtain the most accurate and up-to-date insights into the future outlook of this market, it is advisable to refer to recent market analyses, industry reports, and updates from key players in the field.
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