The global enteral feeding formulas market size is expected to reach USD 8.71 billion by 2025, at a CAGR 7.2% over a forecast period, according to a new report by Grand View Research, Inc. It is majorly driven by growing prevalence of chronic diseases including cancer, diabetes, inflammatory bowel disease, liver disease, and neurological conditions. Manufacturers are increasingly focusing on developing formulas that cater to specific therapeutic needs of these patients. Rise in number of preterm births is also one of the significant factors that propel the product demand to meet nutritional requirements of the newborns.
Increasing number of home care and nursing care centers also indicates the surge in demand for these formulas, as a large number of chronically ill as well as geriatric patients are the key consumers for these products. Growing demand for these products for treating conditions associated with pregnancy also contributes to market growth. In addition, recent product developments and rise in number of new product launches may positively impact the growth.
Rise in prevalence of hospital associated malnutrition among both adults and children drives the demand for enteral feeding formulas. Increasing implementation of the number of government programs for creating awareness regarding enteral tube feeding may also support increasing adoption. Moreover, favorable reimbursement policies in developed countries cover tube feeding procedures that may impel the enteral feeding formulas market over the forecast period.
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Further key findings from the report suggest:
Disease-specific formula segment is expected to emerge at the fastest CAGR of 8.6% over the forecast period owing to high prevalence of chronic diseases coupled with recent product developments
Adults segment held the largest market share in terms of revenue in 2018 due to high availability and increased adoption of tube feeding formulas among adults
In 2018, oncology led the application segment with the largest revenue share owing high prevalence of cancer induced malnutrition
Home care end use segment is expected to grow lucratively over the forecast period
North America held the largest revenue share in 2018 owing to favorable reimbursement policies and rising burden of cardiovascular diseases
Asia Pacific is expected to witness the fastest CAGR 8.7% over the forecast period
The enteral feeding formulas market is fairly competitive with the presence of companies such as Abbott; Nestle Health Science, Danone Nutricia; Fresenius Kabi AG; and MEIJI HOLDING AND CO.
Grand View Research has segmented the global enteral feeding formulas market on the basis of product, stage, application, end use, and region:
Enteral Feeding Formulas Product Outlook, (Revenue, USD Million, 2014 - 2025)
Enteral Feeding Formulas Stage Outlook, (Revenue, USD Million, 2014 - 2025)
Enteral Feeding Formulas Application Outlook, (Revenue, USD Million, 2014 - 2025)
Enteral Feeding Formulas End-use Outlook, (Revenue, USD Million, 2014 - 2025)
Enteral Feeding Formulas Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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