In the last 25 years the number and variety of enteral formulas that are available for use has increased dramatically. In the current enteral feeding formulas marketplace, tube feeding product demand is driven by the number of patients cared for by the health system providers including homecare, hospitals etc. The market is driven by nutritional needs of the elderly, chronically ill patients and the increase of premature births which also spur demand for medical products that can meet the nutritional needs of infants. The growth of the market is also explained by the shift towards home care thanks to innovations in the delivery of products, which makes it possible to administer clinical nutrition therapies at home without specific medical skills.
An ageing population is directly proportional to increasing chronic diseases across the globe. As per National Counselling on Ageing, approximately 80% of older adults have at least one chronic disease, and 77% have at least two. And diseases such s heart disease, cancer, stroke, and diabetes cause almost two-thirds of all deaths each year. In order to meet nutritional requirements and maintain or improve nutritional status in this population, the demand of the Enteral feeding formula is growing.
The report analyses the global enteral feeding formulas market based on product, age, application, end user and geography. The various enteral feeding formulas studied in this report are standard formulas, peptide formulas and specialized formulas. These formulas are used across populace of various age group including adults and pediatrics. The market finds application in neurology, critical care, diabetes, gastro enterology and other applications. The major end users of these products are hospitals, home care, ambulatory surgical centers (ASCs) etc. The market is studied for various countries of key regions such as North America, Europe, Asia Pacific and rest of the World.
The main markets in terms of volume are the EU and the US, but Asia-Pacific is the fastest growing. The large share of North America can be attributed to the high adoption of enteral feeding devices among the aging population, increasing prevalence of chronic diseases, the presence of many large hospitals, a shift from parenteral to enteral feeding, and the development of innovative products. The presence of a large number of global players in this region is another key factor contributing to the large share of this market segment.
The market for standard formulas is likely to grow at a CAGR of 6.43% over the forecast period. Rising geriatric population all over the world along with high prevalence of chronic disease and disorders is likely to boost the market in near future. Followed by standard formulas was the market for peptide formulas that accounted for USD 834.54 million in 2019. Growing number of preterm births as well as increasing demand for homecare are the factors boosting the market over the forecast period.
The oncology segment held the largest market share of the enteral feeding formula, primarily due to high prevalence of malnutrition among cancer patients. Cancer patients are prone to severe malnutrition induced by the tumour or its associated therapy including tumour removal surgeries, radiations and chemotherapy which in turn surge the demand for tube feeding for nutritional support.
In 2019, hospitals accounted for the major market. Flooding demand from critically ill patients and high occurence of chronic diseases are some of the key factors driving the adoption among hospitals. Home care emerged as the fastest growing segment with a CAGR of 7.43% over the forecast period. Increasing number of home and nursing care centers is estimated to increase the demand as these centers deliveraid to chronically ill as well as geriatric patients incapable of eating by mouth.
The key competitors of this market include Abbott Laboratories (U.S.), Nestlé S.A. (Switzerland), Danone S.A. (France), Fresenius Kabi AG (Germany), Mead Johnson Nutrition Company (U.S.), B. Braun Melsungen AG (Germany), Hormel Foods, LLC (U.S.), Victus Inc. (U.S.), Meiji Holdings Co., Ltd. (Japan), and Global Health Product Inc. (U.S.), Nutricia (Netherland) and Aveanna Healthcare (U.S) among others