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Enteral Feeding Formulas Market To Reach USD 10.13 Billion By 2027 | Reports and Data

March 10th, 2020 Reports And Data Releases

The Global Enteral Feeding Formulas Market is estimated to grow from USD 5.49 Billion in 2019 to USD 10.13 Billion by 2027, at a CAGR of 7.5%, during the forecast period. The market is primarily driven by the growing geriatric population, chronic diseases, and premature births, high spending on health care, and high demand for home care.

An increase in patients suffering from cardiovascular diseases, cancer, and diabetes, the leading diseases causing death, has driven the enteral formula market. Continuous clinical trials show the growth of new developments in products. Another key factor that positively impacts the growth of tube feeds is the increasing number of new product launches.

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The enteral tube feeding is used for the administration of nutrients through the intestine or the stomach through tubes, and this applies to those patients who are unable to meet the nutrient requirements or are unable to orally consume nutrients. Various types of tubes, such as nasojejunal tubes, nasogastric tubes, gastrostomy, and jejunostomy, are available for enteral formula feeding.

Large varieties of formulas are available to feed a person in enteral procedures, selection of a particular method for a person, who is not suitable for such a formula, results in various side effects. Some people are allergic to specific proteins, fatty acids (milk and lactose, maize, eggs, tree nuts, soy, fish, and others) and are required to take formulas that are appropriate for their condition. Consequently, complexity in selecting the right method reduces market growth.

Further key findings from the report suggest

  • The Enteral Feeding Formulas Market is estimated to grow from USD 5.49 Billion in 2019 to USD 10.13 Billion by 2027, at a CAGR of 7.5%, during the forecast period. The market is primarily driven by the growing geriatric population, chronic diseases, and premature births, high spending on health care, and high demand for home care.
  • Based on application, oncology dominated the market in 2019, with more than 38% of the total market share. It is expected to grow the largest at USD 3.97 Billion in 2027, at a CAGR of 7.9% during the forecast period. The increasing incidence of cancer of the head and neck contributes to its increased revenue share due to the difficulty in swallowing faced by these patients. In patients with head and neck cancer, significant weight loss is reported, which in turn drives demand for tube feeds. Nearly 40-50% of patients with head and neck cancer suffered from malnutrition before starting treatment.
  • The market for adults is expected to grow the largest at USD 7.89 Billion in 2027, at a CAGR of 8.8% during the forecast period. One of the crucial factors driving growth is the increased adoption of tube feeds among adults. Moreover, the commercial availability of adults for a large number of tube feeds also contributes to its increased share in the revenue.
  • The market for the standard formula is expected to grow the largest at USD 6.72 Billion in 2027, at a CAGR of 8% during the forecast period. Growing micro and macro-nutrient deficiency among hospital patients during both pre- and post-surgery stimulate their demand. These tube feeds commonly contain proteins and polysaccharides for patients with no difficulty digesting and absorbing nutrients. The availability of a wide range of standard formulas in combination with increased demand for low-cost nutrient formulations drives their growth
  • The market for North America is expected to reach USD 3.65 Billion in 2027, at a CAGR of 7.9% during the forecast period. Growing chronic disease burden like diabetes, cancer, and other neurological conditions are driving their regional demand. Nearly 34 million Americans suffered from diabetes in 2018. Favorable reimbursement scenario encourages patients to adopt tube feeds as enteral nutrition is covered by claims of Medicare.
  • The major players in the market are Fresenius Kabi AG (Germany), Victus Inc. (U.S.), B. Braun Melsungen AG (Germany), Global Health Product Inc. (U.S.), Abbott Laboratories (U.S.), Nestle (Switzerland), Danone S.A. (France), Mead Johnson Nutrition Company (U.S.), Hormel Foods, LLC (U.S.), Meiji Holdings Co., Ltd. (Japan) and others.

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Segments Covered in the report:

This report forecasts volume and revenue growth at global, regional, and country levels to provide an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data segments the market based on type, form, age, application, flavour, and region.

Type (Revenue, USD Million; 2017-2027)

  • Standard Formula
  • Specialty Formula
  • Blenderized Formula
  • Elemental Formula
  • Semi-Elemental Formula
  • Polymeric Formula
  • Fiber Supplemented Formula
  • Others

Age (Revenue, USD Million; 2017-2027)

  • Adult
  • Infants

Form (Revenue, USD Million; 2017-2027)

  • Powder
  • Liquid
  • Others

Flavor (Revenue, USD Million; 2017-2027)

  • Vanilla
  • Strawberry
  • Butter pecan
  • Unflavored

Application (Revenue, USD Million; 2017-2027)

  • Oncology
  • Neurology
  • Diabetes
  • Critical care

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/enteral-feeding-formulas-market

Region (Revenue, USD Million; 2017-2027)

  • North America
    • S.
  • Europe
    • France
    • K.
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East & Africa

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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Reports And Data | Web: www.reportsanddata.com

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