Market Research Future (MRFR) has published on the “Global Enteral Feeding Formulas Market”. The enteral feeding formulas market is estimated to register a CAGR of 9.90% during the forecast period of 2024 to 2032.
Enteral Feeding Formulas Market Highlights
The global enteral feeding formulas market is accounted to register a CAGR of 9.90% during the forecast period and is estimated to reach USD 15.5 billion by 2032.
The benefits of enteral nutrition over parenteral nutrition, rising healthcare costs, an increase in preterm births, an aging patient population, a rise in the prevalence of chronic illnesses like GI disorders, neurological disorders, diabetes, etc., and rising awareness of enteral nutrition in developing nations are all anticipated to contribute to the improvement of enteral feeding formulas market growth. Nonetheless, the market's expansion is being somewhat hampered by the increase in instances of underfeeding, prescription errors, and feeding errors; also, the difficulties brought on by a shortage of qualified personnel. Moreover, a shortage of qualified doctors worldwide and inadequate or nonexistent payments in certain developing and impoverished nations present serious obstacles to the expansion of the enteral feeding formulas industry.
Key Players
MRFR recognizes the following companies as the key players in the global enteral feeding formulas market - Reckitt Benckiser Group plc. (Mead Johnson), Abbott Laboratories, Danone SA (Nutricia), Fresenius SE & Co. KgaA (Fresenius Kabi AG), B. Braun Melsungen AG, Global Health Product Inc., Meiji Holdings Co. Ltd, Hormel Foods Corporation, Nestle SA, Kate Farms, Victus Inc., and Functional Formularies.
Segment Analysis
The global enteral feeding formulas market has been segmented into product, application, end user, and distribution channel.
On the basis of product, the market is segmented into Standard Formulas and Disease-specific Formulas. The standard formulas segment was attributed to holding the largest market share in 2023. Standard formulae are designed to provide a balanced combination of macronutrients, micronutrients, and fiber and can be utilized for both short-term and long-term enteral feeding. This product type is commonly used by patients who have a normal digestive system and need only minimal nutrients. Additionally, it is anticipated that the affordability, accessibility, and ease of use of standard formulas will fuel the segment's sales growth.
On the basis of application, the market is segmented into Oncology, Critical Care, Neurology, Diabetes, Gastroenterology, and Other Applications. The oncology segment was attributed to holding the largest market share in 2023. The majority of cancer patients have cancer cachexia, which results in increased protein turnover, insulin resistance, accelerated lipolysis with body fat loss, and loss of muscle mass, which impairs appetite and weight. Enteral feeding formulas are necessary for cancer patients, which is what is fueling the growth of this market. The growing acceptance of enteral feeding formulas among cancer patients is anticipated to propel this segment's growth, as is the growing support and awareness from the major players in the market about nutrition for cancer patients.
On the basis of end user, the market is segmented into Hospital, Home Care Agencies and Hospices, and Other End Users. The home care agencies segment was attributed to holding the largest market share in 2023. Home health organizations, hospices, adult day care facilities, nursing homes, and residential care communities are among the various subtypes of home enteral nutrition. In 2018, there were about 4,700 hospices in the United States, and 1,426,000 people chose to live in a hospice, according to CDC data. Furthermore, there were 28,900 residential care facilities with 1.6 million patients residing there.
Based on distribution channel, the global enteral feeding formulas market has been segmented into Hospitals, Retail Pharmacies, and Online Pharmacies. The hospitals segment was expected to hold the largest market share in 2023. Hospitals serve as the main treatment settings for patients who require enteral feeding, and it is their responsibility to distribute and provide enteral feeding formulas to patients. Through bulk purchases from manufacturers or wholesalers, hospitals commonly use enteral feeding formulas in both inpatient and outpatient settings.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Enteral Feeding Formulas Market Research Report
Regional Analysis
The global enteral feeding formulas market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe enteral feeding formulas market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The enteral feeding formulas market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World enteral feeding formulas market comprises of Middle East, Africa, and Latin America.
The North American regional sector maintained the largest market share for enteral feeding formulas because of a number of variables, including the aging population at a rapid pace, the rising preterm birth rate, and the rise in the number of people with chronic illnesses. Additionally, because enteral feeding formulas are becoming more and more popular in this age range, the aging population is predicted to fuel the market's expansion in this region.
Moreover, the Europe market has been persistently growing over the forecast period because chronic illnesses including cancer, neurological disorders, and digestive system issues, are becoming more common. According to estimates from the World Health Organization (WHO), cancer is the second leading cause of death in Europe, claiming approximately 1.3 million lives each year. Furthermore, 7.7 million cases of Alzheimer's disease (AD) are expected to occur in Europe. Another factor propelling market revenue growth in this region is the increasing prevalence of chronic disorders.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period because of its sizable population, the rise of chronic illness patients, and the increased prevalence of malnutrition. Another key driver of regional growth is the rising rate of preterm births in the area. Moreover, the elderly population in this area is growing, and healthcare costs are rising. According to UN estimates, the number of adults in the Asia-Pacific area who are 60 years of age or older will rise from 548 million in 2019 to over 1.3 billion by 2050.
Furthermore, the rest of the world's enteral feeding formulas market is divided into the Middle East, Africa, and Latin America. Due to the prevalence of preterm births and a big patient pool for chronic diseases and disorders, the rest of world region is developing at a significant rate. Increasing per-capita wealth, expanding healthcare spending, and quickly evolving healthcare organizations are all contributing to the expansion of rest of the world.
Key Findings of the Study
- The global enteral feeding formulas market is expected to reach USD 11.7 billion by 2032, at a CAGR of 9.90% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to its substantial population, the increase in people with chronic illnesses, and the rising rate of malnutrition.
- Based on product, the standard formulas segment was attributed to holding the largest market in 2023.
- Reckitt Benckiser Group plc. (Mead Johnson), Abbott Laboratories, Danone SA (Nutricia), Fresenius SE & Co. KgaA (Fresenius Kabi AG), B. Braun Melsungen AG, Global Health Product Inc., Meiji Holdings Co. Ltd, Hormel Foods Corporation, Nestle SA, Kate Farms, Victus Inc., and Functional Formularies are the key market players.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Companies Covered | 15 |
Pages | 128 |
Certified Global Research Member
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.