(MENAFN- GlobeNewsWire - Nasdaq) The Enteral Feeding Formulas market was valued at US$ 5.79 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Companies covered: Nestle, VICTUS, Primus Pharmaceuticals, Inc., Meiji Holdings. Co., Ltd., Mead Johnson & Company, LLC, Abbott, Danone S.A, and Fresenius Kabi AGBurlingame, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The global Enteral Feeding Formulas Market , valued at $5.79 billion in 2023, is on a trajectory of rapid expansion, with projections indicating it will soar to $10.94 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.5% from 2023 to 2030, as per a recent report by Coherent Market Insights. Enteral feeding formulas are increasingly being customized and tailored to the specific nutritional needs of different patient groups and diseases. There is a growing demand for formulas that are designed for conditions such as diabetes, renal failure, hepatic disorders, neurological disorders, and other chronic illnesses. Disease-specific enteral formulas help ensure optimal nourishment and aid clinical outcomes. Various new product launches catering to special nutritional needs of cancer, cardiac patients, and those with malabsorption disorders are providing opportunities for manufacturers.
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Market Dynamics :
The enteral feeding formulas market is witnessing high growth owing to rising incidences of malnutrition across the globe. According to the WHO, malnutrition causes approximately 3.1 million under-five deaths each year. Furthermore, increasing prevalence of chronic diseases such as cancer and neurological disorders fuels the demand for enteral feeding as many patients find it difficult to consume food orally. This in turn drives the market growth. However, complications associated with tube feeding and high costs involved in enteral nutrition may hinder the market growth.
Global Enteral Feeding Formulas Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $5.79 billion |
| Estimated Value by 2030 | $10.94 billion |
| Growth Rate | Poised to grow at a CAGR of 9.5% |
| Historical Data | 2018–2021 |
| Forecast Period | 2023–2030 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By Flow Type, By Stage, By Indication, By End Use, By Sales Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | . Rising incidence of chronic diseases
. Changes in healthcare landscape and reimbursement policies
. Increasing preference for homecare services |
| Restraints & Challenges | . Risk of infection associated with tubes
. Availability of alternative nutrition therapies |
Market Trends :
New product launches catering to disease-specific nutrition needs is a key trend witnessed in the market. For instance, in 2021, Nutricia launched Nutrison ProteinPlus, an enteral feeding formula enriched with protein for patients suffering from malnutrition. Similarly, companies are focusing on development of organic and clean label enteral nutrition products to cater to evolving consumer preferences for natural ingredients. Furthermore, rising adoption of home enteral feeding over hospital enteral feeding owing to convenience and cost effectiveness is also expected to support the market growth during the forecast period.
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Standard formula accounts for the largest share in the market, holding around 35-40% share. Standard formula provides balanced nutrition to patients and helps meet their daily requirements. It is cost-effective and suitable for moderate health issues.
Disease-specific formulas target the unique dietary needs of patients with specific health conditions like diabetes, Alzheimer's, chronic kidney disease, etc. They are tailored with specific macronutrients, vitamins, and minerals required for better management of the disease. The customized nature of these formulas drives their demand.
Key Market Takeaways:
The global enteral feeding formulas market is anticipated to witness a CAGR of 9.5% during the forecast period 2023-2030, owing to the rising incidence of chronic diseases and growing elderly population worldwide requiring nutritional support.
On the basis of product, the standard formula segment is expected to hold a dominant position, accounting for over 35-40% market share owing to its cost-effectiveness and suitability for moderate health issues.
On the basis of flow type, the intermittent feeding flow segment is expected to hold a dominant position over the forecast period due to its ease of administration.
On the basis of stage, the adult segment is expected to hold a dominant position over the forecast period as adults are more prone to chronic diseases requiring nutritional support.
On the basis of region, North America is expected to hold a dominant position over the forecast period due to advanced healthcare facilities and higher awareness about clinical nutrition.
Key players operating in the enteral feeding formulas market include Nestle, VITUS, Primus Pharmaceuticals, Inc., Meiji Holdings. Co., Ltd, Mead Johnson & Company, LLC, Abbott, Danone S.A., and Fresenius Kabi AG. These players are focused on developing advanced and customized formulas to meet the growing need of patients.
Recent Developments:
In September 2023, Cardinal Health, announced the Kangaroo OMNI Enteral Feeding Pump in the U.S.
In September 2023, Vonco Products LLC, reported that the US. FDA has granted clearance for EnteraLoc Flow as an over-the-counter direct-connect feeding solution for enteral patients.
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Market Detailed Segmentation:
By Product:
Standard Formula Disease-specific Formulas Elemental Formulas Specialized Formulas
By Flow Type:
Intermittent Feeding Flow Continuous Feeding Flow
By Stage:
By Indication:
Alzheimer's Nutrition Deficiency Cancer Care Diabetes Chronic Kidney Diseases Orphan Diseases Dysphagia Pain Management Others (Malabsorption/GI Disorder/Diarrhea, etc.)
By End Use:
Hospitals Cardiology Neurology Critical Care (ICU) Oncology Others
Home Care
By Sales Channel:
Online Sales Retail Sales Institutional Sales
By Region:
North America :
Latin America :
Brazil Argentina Mexico Rest of Latin America
Europe :
Germany U.K. Spain France Italy Russia Rest of Europe
Asia Pacific :
China India Japan Australia South Korea ASEAN Rest of Asia Pacific
Middle East :
GCC Countries Israel Rest of Middle East
Africa :
South Africa North Africa Central Africa
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