September 09, 2021
According to the research report titled ‘Global Enteral Feeding Formulas Market Size study, by Product (Standard formula and Disease-specific formula), by Flow Type (Intermittent feeding flow and Continuous feeding flow), by Stage (Adult and Pediatric), Indication (Alzheimer's, Nutrition Deficiency, Cancer Care, Diabetes, Chronic Kidney Diseases, Orphan Diseases, Dysphagia, Pain Management, Malabsorption/GI Disorder/Diarrhea and Others), End-user (Hospitals and Homecare) and Regional Forecasts 2021-2027’, available with Market Study Report, global enteral feeding formulas market, appraised USD 5.95 billion in 2020, is projected to exhibit 6% CAGR over 2021-2027 and subsequent amass a valuation of USD 8.95 billion by the forecast period end.
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As per the findings of the research literature, increasing cases of preterm births, rising burden of chronic diseases such as diabetes and cancer, and expanding geriatric population are the major growth propellers for worldwide enteral feeding formulas market.
Further, rising preference for consumption of diseases specific formulas and innovations in product development are enhancing the industry outlook. For instance, Victus Inc., in 2020, launched Abintra Care, a specialized nutrition for supporting the immune system.
Elaborating on the subject, enteral feeding formulas are individuals who are not able to consume or digest food normally due to a health condition or injury that prevents eating through the mouth.
Speaking of the market restraints, poor awareness regarding clinical nutrition in medical and healthcare communities, and complications linked with enteral feeding are hampering the remuneration scope of industry players.
From a geographical perspective, key contributors to global enteral feeding formulas market growth are Asia Pacific (India, China, Japan, South Korea, Australia), North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain), and Latin America (Mexico, Brazil).
Experts cite that North America holds considerable revenue share and will likely record strong gains in the upcoming years, mainly due to mounting cases of chronic diseases like diabetes, neurological disorders, and cancer. In fact, the American Cancer Society claims that estimated number of new cancer cases in the United States was 1,762,450 in 2019.
Asia Pacific industry is anticipated to showcase a robust growth rate over the forecast period 2021-2027, attributable to increasing preterm births and developing healthcare infrastructure.
With respect to the competitive landscape, prominent players influencing global enteral feeding formulas industry trends are B. Braun Melsungen AG, Mead Johnson & Company LLC, Reckitt Benckiser Group plc, Meiji Holdings Co. Ltd., Primus Pharmaceuticals Inc., Victus Inc., Nestlé S.A., Fresenius Kabi, Danone S.A., and Abbott Laboratories.