June 21, 2024
Enteral Feeding Formulas Market

Global Enteral Feeding Formulas Market is Anticipated to Witness High Growth

The global enteral feeding formulas market is growing owing to the increasing prevalence of chronic diseases and number of preterm births worldwide. Enteral tube feeding formulas are beneficial for malnourished patients, cancer patients unable to swallow, and preterm babies among others. They provide optimal nutrition to patients with gastrointestinal dysfunction to meet their daily dietary requirements. The formulas contain important nutrients including proteins, carbohydrates, fats, vitamins, and minerals needed for growth and development. They are easy to digest and help boost immunity and overall health.

The Global enteral feeding formulas market is estimated to be valued at US$ 5.79 BN in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 To 2031.

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 companies are investing heavily in new product launches and expansions to gain market share.

The key opportunities in the market include developing cost-effective formulas for patients in developing countries and increased demand for disease-specific formulas for chronic illnesses like cancer and diabetes. Rapid urbanization and growing aging population prone to dysphagia also present remunerative opportunities.

Globally, the Enteral Feeding Formulas Market Growth players are exploring emerging countries in Asia Pacific, Middle East, and Latin America due to rising healthcare expenditures and increasing patient pool requiring nutritional support. Expanding distribution networks in developing nations and strategic partnerships with local players can help accelerate international expansion plans.

Market Drivers

Rising prevalence of chronic diseases requiring long-term enteral nutrition therapy is a major market driver. According to WHO estimates, chronic diseases account for over 70% of all deaths worldwide each year. Conditions like cancer, stroke, heart disease, and diabetes often lead to cachexia, anorexia or gastrointestinal problems necessitating nutritional formulations through feeding tubes.

Rapid growth in preterm births globally is boosting the enteral feeding formulas segment. According to the World Bank, around 15 million babies are born preterm each year. These preterm infants have immature gastrointestinal systems and require specialized formulas rich in proteins, vitamins, and minerals for optimal development.

Market Restrains

High costs associated with tube feeding formulas and accessories pose a major challenge, especially for patients in low-income countries. Affordability issues constrain the market’s growth potential in price-sensitive regions. Secondly, complications arising from tube feeding such as infections, gastrointestinal issues, and lack of taste acceptance by patients discourage full adoption. Strong evidence is still needed on the benefits of specialized formulas for chronic diseases which remains an area of concern.

Segment Analysis

The global enteral feeding formulas market is dominated by standard formulas which hold around half of the total market share. These are basic nutritional supplements for individuals who cannot consume food orally. Standard formulas offer balanced nutrition via essential vitamins, minerals, proteins etc. Their widespread adoption can be attributed to affordability as compared to specialty formulas and ability to meet nutritional needs of majority patients.

The global enteral feeding formulas market is also witnessing increasing demand for diabetes formulas. Around one-fourth of the total enteral feeding formulas consumed globally are diabetes-specific. This is primarily due to rising prevalence of diabetes across worlds which has boosted the need for specialized nutritional support. Diabetes formulas contain tailored macronutrient composition to help manage blood glucose levels in diabetic patients.

Regional Analysis

North America dominates the global enteral feeding formulas market and accounts for over 40% share. This can be associated with large geriatric population, increasing incidence of chronic diseases, sophisticated healthcare infrastructure and high accessibility to technologically advanced enteral feeding devices in the region. The market in Asia Pacific is estimated to witness the fastest growth during the forecast period. Factors such as rising healthcare expenditure, growing malnutrition & chronic disease burden and expanding patient pool are fueling the demand for enteral feeding formulas in Asia Pacific.

Global Analysis

The global enteral feeding formulas market is projected to exhibit strong growth during the forecast period of 2024-2031, expanding at a CAGR of around 9.5%. Growth of the market can be attributed to increasing aging population worldwide afflicted with chronic conditions necessitating enteral nutrition support. Additionally, rising prevalence of malnutrition primarily due to unhealthy dietary lifestyles is augmenting the demand for supplemental enteral formulas. However, technological advancements in terms of development of diabetes-specific, disease-specific, fiber-enriched and hypoallergenic formulas are also driving their adoption. The key players operating in the global enteral feeding formulas industry are focused on capacity expansion plans and new product launches to strengthen their market position.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it