July 14, 2024
Enteral Nutrition Market

The rise of chronic diseases is anticipated to open up the new avenue for Enteral Nutrition Market

Market Overview:

Enteral nutrition refers to the delivery of nutritional formula into the gastrointestinal tract through a tube. The products associated with this market include formulae targeted for specific clinical conditions like diabetes, renal failure, dysphagia in adults and standard formulae. These formulae provide balanced nutrition to patients who cannot obtain nutrition from the traditional food.

Market Dynamics:

The increasing prevalence of chronic diseases such as cancer and neurological disorders is a major factor driving the growth of the enteral nutrition market. Cancer and neurological disorders require intensive medical care and nutrition support which boosts the demand for enteral formulae. According to WHO, cancer burden is expected to grow to 27 million new cancer cases and 16.3 million cancer deaths by 2040. Similarly, neurological disorders have high and increasing disease burden. Another factor fueling the market growth is rising aging population across regions. As age advances, the risk of chronic diseases increases which necessitates nutritional support through enteral formulae. Additionally, advancements in product formulations catering to disease-specific needs are also supporting the market expansion. For instance, enteral formulae are now available for diabetes, renal failure, hepatic disorders and other conditions.

Segment Analysis

The enteral nutrition market can be segmented into standard and disease-specific formulas. The disease-specific formulas segment is dominating the market as these formulas help in managing specific diseases and conditions effectively. The disease-specific formulas are tailored to meet the distinct nutritional needs of patients suffering from diseases like diabetes, cancer, allergen intolerance etc. This segment is dominating as the use of such formulas result in faster recovery and better management of health conditions.

PEST Analysis

Political: Government initiatives aimed at expanding health coverage and minimizing malnutrition are driving the adoption of enteral nutrition.
Economic: Rising per capita healthcare expenditure is increasing the affordability of enteral nutrition products in developing countries.
Social: Growing awareness about disease management through specialized nutrition is boosting the sales of enteral formulas.
Technological: Advanced formulas with new ingredients, flavors and packaging solutions are enhancing patient compliance with enteral feeding therapies.

Key Takeaways

The global enteral nutrition market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is US$ 3.1 Bn. North America is expected to dominate the enteral nutrition market during the forecast period. The rising geriatric population and growing number of preterm births in the region are fueling market growth. Key players operating in the enteral nutrition market are Abbott, Nestlé S.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company, LLC, Braun Melsungen AG, Otsuka Pharmaceutical Co., Ltd, Meiji Holdings Co., Ltd., Bahrain Pharma, Bionova Lifesciences, Global Health Products Inc., Victus Inc., Curtis Health Caps SP.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it