Global Enteral Feeding Formulas Market Trends Analysis Report 2023-2030: Advancements in Disease-Specific Formulas Drive Enteral Feeding Market - ResearchAndMarkets.com
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The "Enteral Feeding Formulas Market Size, Share & Trends Analysis Report By Product, By Flow Type, By Stage, By Indication, By End-user, By Sales Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The "Enteral Feeding Formulas Market Size, Share & Trends Analysis Report By Product, By Flow Type, By Stage, By Indication, By End-user, By Sales Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global enteral feeding formulas market size is expected to reach USD 10.5 billion by 2030, expanding at 5.5% CAGR from 2023 to 2030
Increasing incidences of targeted diseases and advancements in drug development are expected to drive the demand for disease-specific formulas. Clinical nutrition is increasingly used for the personalized treatment of diseases, such as cancer and cystic fibrosis. These conditions require special nutrition to avoid any kind of drug interaction.
For instance, in the case of cystic fibrosis, special digestive enzyme capsules are administered. The nature of these digestive enzymes can vary in individuals. Appropriate nutrition is critical for preterm infants, and early nutrition provision could influence better clinical outcomes & growth of the child, including neurodevelopment, decreased risk of Retinopathy of Prematurity (ROP), or prevention of Bronchopulmonary Dysplasia (BPD).
The commitment of NPOs and NGOs to preventing and caring for preterm birth, such as the 'Every Woman Every Child' movement of the UN, to advance the global strategy on women's and children's health, is expected to boost the demand for neonatal & preterm enteral feeding formulas. Growing initiatives to spread awareness regarding the importance of nutrients among the patient population are expected to improve the current market scenario.
According to an article titled ASPEN Strives to Address Critical Gaps in Diagnoses, Care, and Treatment through Annual Malnutrition Awareness Week, published by ASPEN, around 10 hospitalized patients go undiagnosed every 60 seconds. Hence, this organization established Malnutrition Awareness Week in 2011 to spread awareness regarding malnutrition in hospitalized patients and educate healthcare professionals on the importance of nutrients among patients.
In case of medical necessity, Medicaid must cover enteral nutrition. However, there are no such regulations/mandates on private insurance companies. Moreover, as per the results of a survey conducted by NCBI, there is a huge lack of reimbursement for patients on Home Enteral Nutrition (HEN) and inadequate awareness among stakeholders regarding market opportunities, especially in lower-income countries.
Enteral Feeding Formulas Market Report Highlights
- Standard formula was the largest product segment, accounting for 57.0% of the market share in 2022, in terms of revenue. The availability of a wide variety of standard formulas, coupled with increased demand for low-cost nutrient formulations, are among the factors driving the market growth
- The disease-specific formula segment is expected to witness a lucrative CAGR of 6.1% over the forecast period. The high prevalence of chronic diseases, such as cancer, diabetes, and liver failure, is propelling the demand for disease-specific formulas
- The intermittent flow type segment dominated the market with a share of 89.2% in 2022. This can be attributed to the fact that intermittent feeding has shown better tolerance in patients as compared to bolus feeding
- In 2022, the adult stage was the largest segment, accounting for 90.4% of the overall market share in terms of revenue, and is anticipated to be the fastest-growing segment over the forecast period
- The other indications segment accounted for the largest market share of 37.1% in 2022; the segment was followed by cancer. The dominant share can be attributed to the increasing incidences of malnutrition and other conditions associated with critically ill patients whose immune system is impaired
- In 2022, home care was the largest end-use segment with a share of 60.0% and is expected to witness the fastest growth over the forecast period
Market Dynamics
Market Driver Analysis
- Rising Geriatric Population
- Growing Prevalence Of Chronic Diseases
- Shifting Trend Toward Consumption Of Disease-Specific Formulas
- Growing Demand For Neonatal And Preterm Enteral Feeding
Market Restraint Analysis
- Lack Of Awareness In The Medical Community
- Improper Categorization Of Clinical Nutrition
Industry Challenges
- Complications Associated With Small-Bore Connectors
- Risks Associated With Enteral Feeding
Enteral Feeding Formulas Market Analysis Tools
- Enteral Feeding Devices Market - Pestle Analysis
- Industry Analysis - Porter's Five Forces
Covid-19 Impact On Enteral Feeding Formulas Market
Competitive Landscape
- Recent Developments & Impact Analysis, By Key Market Participants
- Company Categorization
- Vendor Landscape
- Key Customers
- Key Company Market Share Analysis
- Company Market Position Analysis
- Company Market Ranking
- Regional Network Map
Company Profiles
- Abbott
- Danone S.A
- Fresenius Kabi Ag
- Nestle
- Victus
- Primus Pharmaceuticals, Inc.
- Meiji Holdings. Co., Ltd.
- Mead Johnson & Company, Llc
For more information about this report visit https://www.researchandmarkets.com/r/sa8uaz.
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