The growth of the market is driven by the higher prevalence of chronic diseases such as cancer, dementia, liver disease, diabetes and chronic pulmonary obstructive disease (COPD).
Market Size – USD 5.11 Billion in 2018, Market Growth - CAGR of 7.5%, Market Trends – Higher prevalence of chronic diseases such as cancer, dementia, liver disease, diabetes and chronic pulmonary obstructive disease (COPD).
NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- The Enteral Feeding Formulas Market is forecasted to grow from USD 5.11 Billion in 2018 to USD 9.43 Billion by 2026, 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.
Increase in patients suffering from cardiovascular diseases, cancer and diabetes, the leading disease-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 the 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 tube, nasogastric tube, 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. Few 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 forecasted to grow from USD 5.11 Billion in 2018 to USD 9.43 Billion by 2026, 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 2018 with more than 38% market share. It is expected to grow the largest at USD 3.68 Billion in 2026, 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 swallowing difficulties 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 7.26 Billion in 2026, at a CAGR of 8.8% during the forecast period. One of the crucial factors driving growth is 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 of revenue.
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- The market for standard formula is expected to grow the largest at USD 6.23 Billion in 2026, at a CAGR of 8% during the forecast period. Growing micro and macro-nutrient deficiency among hospital patients during both pre and post-surgery stimulates their demand. These tube feeds commonly contain proteins and polysaccharides for patients with no difficulty digesting and absorbing nutrients. The availability of 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 3.39 Billion in 2026, 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. (US), B. Braun Melsungen AG (Germany), Global Health Product Inc. (US), Abbott Laboratories (US), Nestle (Switzerland), Danone S.A. (France), Mead Johnson Nutrition Company (US), Hormel Foods, LLC (US), Meiji Holdings Co., Ltd. (Japan) and others.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, form, age, application, flavor and regional analysis.
Type (Revenue, USD Million; 2016-2026)
- Standard Formula
- Specialty Formula
- Blenderized Formula
- Elemental Formula
- Semi-Elemental Formula
- Polymeric Formula
- Fiber Supplemented Formula
- Others
Age (Revenue, USD Million; 2016-2026)
- Adult
- Infants
Form (Revenue, USD Million; 2016-2026)
- Powder
- Liquid
- Others
Flavor (Revenue, USD Million; 2016-2026)
- Vanilla
- Strawberry
- Butter pecan
- Unflavored
Application (Revenue, USD Million; 2016-2026)
- Oncology
- Neurology
- Diabetes
- Critical care
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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