The global enteral feeding formulas market involves the production and sale of supplemental food products that are administered via tube feeding to patients who are unable to swallow or digest food normally. These nutritional formulas contain proteins, carbohydrates, vitamins, minerals, and other essential nutrients required by the body to meet daily nutritional requirements. They come in various forms like powder, liquid, and semi-solid and are administered through feeding tubes placed in the stomach, duodenum, or jejunum. Enteral formulas help provide nutrition to patients suffering from chronic conditions like cancer, neurological disorders, gastrointestinal diseases, and others that impair oral intake of food.
Key Takeaways
Key players operating in the Global Enteral Feeding Formulas market are Abbott, Danone S.A., Fresenius Kabi AG, Nestle, Meiji Holdings, and Mead Johnson & Company, LLC. These players are focusing on developing innovative formulas customized for different clinical needs through extensive R&D.
The Global Enteral Feeding Formulas market is expected to witness significant growth opportunities due to the rising prevalence of chronic diseases worldwide. The market players are expected to benefit from increasing healthcare spending on nutritional support and growing awareness regarding clinical nutrition.
The market is also expected to grow owing to expansion of key players into emerging regions of Asia Pacific, Latin America, and Middle East & Africa. Strengthening of distribution networks in developing nations will help companies tap the high-growth potential in these untapped markets.
Market Drivers
The Enteral Feeding Formulas Market is driven by the increasing prevalence of chronic diseases worldwide requiring long-term nutritional support. As per the WHO, chronic diseases accounted for nearly 60% of reported deaths globally in 2001, amounting to about 35 million deaths annually. The rising geriatric population is also susceptible to chronic conditions enhancing the demand for enteral nutrition. Furthermore, growing awareness regarding clinical nutrition and rising healthcare spending on nutritional support especially in developing economies are further expected to propel the enteral feeding formulas market during the forecast period.
PEST Analysis
Political: The regulations regarding the composition and distribution of enteral feeding formulas. The policies decide the manufacturing and commercialization process.
Economic: Overall economic growth which increases disposable incomes. This allows more individuals to opt for better nutrition. The income levels decide the adoption and affordability of enteral feedings.
Social: Key trends like preference for specialized and clinically developed formulas. Rise in chronic diseases and aging population which drives the demand. Growing awareness regarding benefits of nutrition management.
Technological: Advancements in formulation technology to develop the formulas as per individuals’ nutritional needs. The role of digital tools for screening and online sales.
Concentration by Geographical Regions
North America dominates the global market and holds the largest share in terms of value. The region witnesses high adoption rates due to conducive reimbursement scenarios and presence of major players. Europe stands as the second largest region on account of growing aging demographics and focus on quality clinical nutrition.
Fastest Growing Region
The Asia Pacific region is identified as the fastest growing market for enteral feeding formulas. Factors such as rising healthcare expenditures, increasing disposable incomes, growing incidences of chronic illnesses contribute to the demand upsurge. Developing nations like China and India provide significant growth opportunities owing to large patient pools and improving access to therapies.
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