The global Enteral Nutrition Market is estimated to be valued at US$ 3.1 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Enteral nutrition refers to feeding through the gastrointestinal (GI) tract using formula-based products that provide nutritional requirements to the body through the GI tract. Enteral nutrition products are given through a tube inserted in the stomach or small intestine for patients who are unable to meet their nutritional needs through oral diet. The global aging population susceptible to chronic diseases and conditions require enteral nutrition support to meet their nutritional needs. The increasing disease burden of chronic diseases, gastrointestinal disorders, and neurological disorders globally drive the demand for enteral nutrition products.
Market key trends:
One of the key trends in the enteral nutrition market is the growing demand for disease-specific enteral formulas. Manufacturers are focusing on developing formulas tailored to address the specific nutritional needs of disease conditions. For instance, formulas are available for diabetes, pulmonary diseases, renal disorders, hepatic disorders, and metabolic disorders. Besides, high protein and fiber formulas are developed for cancer patients. The customized formulas offer benefits such as improved tolerance, nutritional adequacy, and clinical outcomes. Also, the adoption of enteral feeding tubes is increasing globally which is supporting the market growth. The feeding tubes help provide optimal nutritional support to patients suffering from dysphagia, unable to maintain hydration and calorie intake through oral diet.
Threat of new entrants: Low due to need for extensive capital requirement to set up manufacturing facilities as well as need to establish strong distribution channels.
Bargaining power of buyers: Moderate due to availability of varied options in the market.
Bargaining power of suppliers: Low due to availability of substitute raw materials and focus of manufacturers on backward integration.
Threat of new substitutes: Low as enteral formulas are specialized medical foods tailored to meet nutritional requirements through specific delivery route.
Competitive rivalry: High due to presence of large multinational players and intense price competition among them.
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 estimated to be US$ 3.1 Bn.
Regional analysis: North America dominates the global enteral nutrition market and is expected to continue its dominance during the forecast period. This is attributed to the rising geriatric population in the region who are more prone to chronic diseases. Asia Pacific is expected to grow at the fastest pace during the forecast period due to improving healthcare infrastructure and increasing expenditure on nutrition products in countries like China and India.
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. Key players are focused on increasing their geographic presence through strategic mergers and acquisitions.