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Enteral Feeding Formula Market Size, Industry Forecast, Insights 2024-2033
Enteral Feeding Formula Market
The Business Research Company offers in-depth market insights through Enteral Feeding Formula Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The enteral feeding formula market size has grown strongly in recent years. It will grow from $6.02 billion in 2023 to $6.61 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rising geriatric population, increased prevalence of chronic diseases, technological advancements in enteral feeding formula, growing awareness of clinical nutrition, expansion of home healthcare services.
The enteral feeding formula market size is expected to see rapid growth in the next few years. It will grow to $9.68 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to growing incidence of malnutrition, expansion of the elderly population, advances in enteral nutrition research, increasing adoption of home enteral nutrition, rise in the number of hospitals and long-term care facilities. Major trends in the forecast period include development of disease-specific enteral feeding formulas, demand for plant-based and organic formulas, focus on immunonutrition in enteral feeding, customized enteral nutrition solutions, adoption of blenderized tube feeding formulas.
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Market Segmentation:
The enteral feeding formula market covered in this report is segmented -
1) By Product: Standard Formulas, Disease-Specific Formulas
2) By Stage: Adults, Pediatrics
3) By Application: Oncology, Gastroenterology, Neurology, Diabetes, Critical Care, Other Applications
4) By End User: Hospitals, Long-Term Care Facilities
Major Driver - Rising Geriatric Population Fuels Growth Of Enteral Feeding Formula Market
The growing geriatric population will propel the growth of the enteral feeding formula market. Globally, the number of people aged 65 years or above was increasing in recent years. The geriatric population is most vulnerable to chronic disorders and often requires feeding through the enteral route. Thus, the increasing number of old age people increases the demand for enteral foods. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the growing geriatric population will drive the growth of the enteral feeding formula market forward.
Competitive Landscape:
Major companies operating in the enteral feeding formula market report are Abbott Laboratories, Nestlé S. A., Danone S. A., Fresenius Kabi AG, Mead Johnson Nutrition Company, B. Braun Melsungen AG, Meiji Holdings Co. Ltd., Real Food Blends, Ajinomoto Cambrooke Inc., Otsuka Pharmaceutical Co. Ltd., Hormel Foods Corporation, Meiji Seika Pharma Co. Ltd., Medtrition Inc., Nutri-Force Nutrition, Global Health Product Inc., VICTUS, Primus Pharmaceuticals Inc., Kate Farms, Baxter International Inc., Perrigo Nutritionals LLC, Reckitt Benckiser Group plc, Royal Numico NV, Bio-Serv Inc., Nutrabalace Ltd., ProSynbiotics, Med-Diet Laboratories Inc., Precision Foods-kent corporation, SimplyThick LLC, Coram LLC, Vitaflow LLC
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Top Trend - Innovative Product Launches Drive Growth In The Enteral Feeding Formula Market
Product innovations are a key trend gaining popularity in the enteral feeding formula market. Major companies in the market are constantly innovating and launching newer enteral formulas. The launch of new products provides customers with more options and increases demand for enteral feeding formulas, which drives the enteral feeding formula market. For instance, in September 2023, Cardinal Health, Inc., a US-based health care services company, launched the Kangaroo OMNI Enteral Feeding Pump in the United States. This innovative pump is designed to offer enteral feeding patients a range of options tailored to their specific needs throughout their enteral feeding journey. Kangaroo OMNI is the first and only attitude-independent enteral feeding system in the U.S. that can deliver thick, homogenized, and blended formulas. With its compact and portable design, it provides versatility for feeding, flushing, and hydration, along with the capability to transmit a 30-day feeding history. Kangaroo OMNI is a comprehensive solution designed to address the enteral feeding requirements of patients and caregivers, whether in a hospital or home setting.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Enteral Feeding Formula Market Characteristics
3. Enteral Feeding Formula Market Trends And Strategies
4. Enteral Feeding Formula Market - Macro Economic Scenario
5. Enteral Feeding Formula Market Size And Growth
…..
27. Enteral Feeding Formula Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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