June 22, 2024

Enteral Feeding Formulas Market Size to Grow USD 12.51 Bn by 2033

The global enteral feeding formulas market size accounted for USD 7.26 billion in 2023 and is predicted to grow around USD 12.51 billion by 2033, growing at a CAGR of 5.59% from 2024 to 2033.

Key Points

  • The North America enteral feeding formulas market size was estimated at USD 2.32 billion in 2023 and is expected to surpass around USD 4 billion by 2033.
  • North America held the largest market share of 32% in 2023.
  • By product, the standard formula segment dominated the market with the largest market share of 58% in 2023.
  • By flow type, intermittent feeding flow segment has captured the largest market share of 90% in 2023.
  • By stage, the adult segment has accounted for the largest share of 91% in 2023.
  • By indication, the cancer care segment held a significant share of the market in 2023.
  • By sales channel, the institutional segments dominated the market with the highest market share of 52% in 2023.
  • By end use, the home care segment is expected to grow at the fastest CAGR of 5.92% over the forecast period.

Enteral Feeding Formulas Market Size 2024 to 2033

The enteral feeding formulas market refers to the industry involved in the production and distribution of nutritional formulas for patients who require assisted feeding. These formulas are used to deliver nutrients directly into the gastrointestinal tract through feeding tubes in individuals who have difficulty swallowing, eating, or absorbing nutrients from solid foods. Enteral feeding formulas play a crucial role in patient care, particularly in hospital and homecare settings, catering to a range of patients from infants to the elderly.

Get a Sample: https://www.precedenceresearch.com/sample/4123

Growth Factors

The market for enteral feeding formulas is expected to grow significantly in the coming years due to several key factors. The increasing prevalence of chronic diseases such as cancer, diabetes, and gastrointestinal disorders is driving the demand for enteral feeding solutions. Additionally, a growing aging population and the rising number of premature births contribute to the expanding market. Technological advancements in formula production and the development of specialized formulas for specific health conditions further bolster market growth.

Region Insights

The enteral feeding formulas market can be segmented by region, with North America, Europe, and the Asia-Pacific being the dominant markets. North America holds the largest market share due to advanced healthcare infrastructure and a high prevalence of chronic diseases. Europe is a mature market with established healthcare systems and a focus on research and development in medical nutrition. The Asia-Pacific region is expected to witness significant growth due to an increasing population, improving healthcare infrastructure, and a growing awareness of medical nutrition products.

Enteral Feeding Formulas Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.59%
Global Market Size in 2023 USD 7.26 Billion
Global Market Size in 2024 USD 7.67 Billion
Global Market Size by 2033 USD 12.51 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Flow Type, By Stage, By Indication, By End-use, and By Sales Channel
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Enteral Feeding Formulas Market Dynamics

Drivers

Several drivers contribute to the growth of the enteral feeding formulas market. These include the rise in healthcare expenditure globally, advancements in enteral feeding technologies, and the increasing adoption of home-based enteral nutrition. Additionally, the growing demand for specialized and customized formulas for different age groups and medical conditions is a major driver.

Opportunities

The enteral feeding formulas market presents several opportunities for growth and innovation. The development of nutrient-dense, easily digestible, and palatable formulas for different patient groups opens new market opportunities. Partnerships between formula manufacturers and healthcare providers to ensure better patient care and nutrition management could also drive market expansion. Moreover, the potential for enteral feeding formulas in emerging markets with increasing healthcare needs offers untapped opportunities for growth.

Challenges

Despite the positive growth outlook, the enteral feeding formulas market faces several challenges. High costs of formulas and limited insurance coverage may hinder market growth, particularly in low-income regions. Regulatory compliance and safety standards for enteral feeding products can pose challenges for manufacturers. Additionally, issues related to the use of feeding tubes, such as infections and patient discomfort, may impact the adoption of enteral feeding formulas.

Read Also: Dental Compressors Market Size to Grow USD 620.95 Mn by 2033

Enteral Feeding Formulas Market Recent Developments

  • In September 2023, Abbott announced the plan to boost the manufacturing of various adult enteral formulas for the retail market to counteract low supply in the institutional sector.
  • In February 2023, Nestlé and EraCal Therapeutics initiated a research collaboration to identify novel nutraceuticals for controlling food intake.
  • In September 2022, Kate Farms introduced Adult Standard 1.4, a high-calorie medical formula now offered in chocolate. This product is designed to assist in weight gain, weight maintenance, and improved tolerance while providing a delicious taste.
  • In September 2022, Kate Farms raised $75 million in a Series C funding round led by life-science investor Novo Holdings. With this, Kate Farms will be able to increase its efforts in developing plant-based clinical nutrition research, product innovation, and development into more channels.

Enteral Feeding Formulas Market Companies

  • Nestlé S.A.
  • Abbott Laboratories
  • Mead Johnson Nutrition Company
  • Fresenius Kabi AG
  • Danone S.A.
  • Victus Inc.
  • Hormel Foods, LLC
  • B. Braun Melsungen AG
  • Global Health Product Inc.
  • Aveanna Healthcare
  • Meiji Holdings Co., Ltd.
  • Nutricia

Segments Covered in the Report

By Product

  • Standard Formula
  • Disease-specific Formulas
    • Alzheimer’s
    • Nutrition Deficiency
    • Cancer Care
    • Diabetes
    • Chronic Kidney Diseases
    • Orphan Diseases
    •  Dysphagia
    •  Pain Management
    • Malabsorption/GI Disorder/Diarrhea
    • Others

By Flow Type

  • Intermittent Feeding Flow
  • Continuous Feeding Flow

By Stage

  • Adults
  • Pediatrics

By Indication

  • Alzheimer’s
  • Nutrition Deficiency
  • Cancer Care
  • Diabetes
  • Chronic Kidney Diseases
  • Orphan Diseases
  • Dysphagia
  • Pain Management
  • Malabsorption/GI Disorder/Diarrhea
  • Others

By End-use

  • Hospitals
    • Cardiology
    • Neurology
    • Critical Care (ICU)
    • Oncology
    • Others
  • Home Care
  • Long-Term Care Facilities

By Sales Channel

  • Online Sales
  • Retail Sales
  • Institutional Sales

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/


Prathamesh

Leave a Reply

Your email address will not be published. Required fields are marked *