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).
In 2020, based on flow type, the intermittent feeding flow type segment accounted for the highest revenue share in the market because intermittent feeding has shown better tolerance in patients as compared to bolus feeding. Moreover, this type of feeding does not require feeding pumps, which is helpful in allowing greater mobility in between the feedings. This is expected to increase its adoption among the hospital as well as homecare settings, thereby affirmatively impacting the segment growth.
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. In addition, the availability of large number of tube feeds or products for adults on a commercial level also contributes to the large share held by the segment. Glucerna, Osmolite, TwoCal, Vital, Promote, and Jevity are some of the popular brands by Abbott Nutrition for adults.
Based on indications, other indications, followed by cancer care accounted for the largest share in terms of revenue in 2020. The increasing prevalence of cancer and other health conditions associated with cancer is likely to promote market growth. For instance, according to GLOBOCON 2020, there were around 19.3 million new cases of cancer worldwide in 2020. Europe accounted for about 23.4% of total cancer cases and Asia had the highest population suffering from cancer, which was about 60%.
In 2020, based on end user, the homecare segment accounted for the highest revenue share in the market and this 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. For instance, according to a recent survey conducted in the U.K., there were 187 patients on home enteral tube feeding out of the total 257 patients. This suggested that approximately 72% of patients were on home enteral tube feeding.
North America dominated the market with a revenue share of 29.7% in 2020 owing to the growing burden of chronic diseases such as diabetes, cancer, and other neurological conditions. Furthermore, increasing preference for home-based enteral therapy has decreased the number of patient visits to hospitals and clinics. In addition, increasing malnutrition is expected to further boost the demand for enteral feeding formulas in this region.
In addition, the rising number of COVID-19 cases in various geographies coupled with the large geriatric population, susceptible to various health conditions, are among the factors contributing to the growth of the market. For instance, according to an article published in Europe PMC in 2020, enteral nutrition is generally preferred over parenteral nutrition for COVID-19 patients admitted to the ICUs. In addition, it should be provided within 48 hours of admission. Hence, such instances signify increasing adoption of enteral feeding formulas during the pandemic.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market
Enteral Feeding Formulas Market Report Highlights
- The market is anticipated to grow over the forecast period owing to the growing prevalence of chronic diseases and the rise in preterm births
- The standard formulas segment dominated the market in 2020, owing to the availability of a wide variety of standard formulas coupled with increased demand for low-cost nutrient formulations
- The intermittent feeding flow segment dominated the market in 2020, owing to better tolerance in patients shown by intermittent flow as compared to bolus feeding
- Adults accounted for the largest revenue share in the market in 2020 owing to the rising adoption of tube feeds in the adults and the availability of a large number of tube feeds or products for adults on the commercial level
- Other indications followed by cancer care accounted for the largest share in terms of revenue in 2020. The increasing prevalence of cancer and other health conditions associated with cancer is likely to promote market growth
- The homecare segment accounted for the highest revenue share in the market owing to the rising number of patients that receive home enteral feeding due to growing awareness about complete and balanced nutrition
- North America dominated the market with a revenue share of 29.7% in 2020 owing to the growing burden of chronic diseases such as diabetes, cancer, and other neurological conditions
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market/request/rs1
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:
Enteral Feeding Formulas Product Outlook (Revenue, USD Million, 2014 – 2028)
- Standard formula
- Disease-specific formula
Enteral Feeding Formulas Flow Type Outlook (Revenue, USD Million, 2014 – 2028)
- Intermittent feeding flow
- Continuous feeding flow
Enteral Feeding Formulas Stage Outlook (Revenue, USD Million, 2014 – 2028)
- Adult
- Pediatric
Enteral Feeding Formulas Indication Outlook (Revenue, USD Million, 2014 – 2028)
- Alzheimer’s
- Nutrition Deficiency
- Cancer Care
- Diabetes
- Chronic Kidney Diseases
- Orphan Diseases
- Dysphagia
- Pain Management
- Malabsorption/GI Disorder/Diarrhea
- Others
Enteral Feeding Formulas End-user Outlook (Revenue, USD Million, 2014 – 2028)
- Hospitals
- Cardiology
- Neurology
- Critical Care (ICU)
- Oncology
- Others
- Home Care
Enteral Feeding Formulas Regional Outlook (Revenue, USD Million, 2014 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Asia Pacific
- Australia
- China
- Japan
- South Korea
- India
- Singapore
- New Zealand
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Enteral Feeding Formulas Market
- Abbott
- Danone SA
- Fresenius Kabi
- Nestlé
- Victus, Inc.
- Primus Pharmaceuticals, Inc.
- Meiji Holdings. Co., Ltd.
- Rickett Benckiser Group Plc.
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/3083/ibb
Browse More Related Report:
Medical Foods Market Size, Share & Trends Analysis Report By Route of Administration (Oral, Enteral), By Product (Pills, Powder, Liquid), By Application, By Sales Channel, And Segment Forecasts, 2022 – 2030
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market