Enteral Feeding Formulas Industry Overview
The global enteral feeding formulas market size was valued at USD 5.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028.
The growing prevalence of chronic diseases, such as cancer, stroke, multiple sclerosis, dementia, chronic liver disease, Chronic Obstructive Pulmonary Disease (COPD), and diabetes, is projected to drive the demand for products that support patients with oral intake issues. In addition, the rise in preterm births is one of the significant factors boosting the demand for enteral feeding formulas to meet the nutritional requirements of newborns.
Furthermore, the increasing launch of new products is a key factor affirmatively impacting the growth of tube feeds. For instance, Victus, Inc. announced the launch of ABINTRA Care, in 2020, which is specialized nutrition that can support the immune system. This is expected to help the company increase its product portfolio in the specialized nutrition segment. In addition, the rising number of home health agencies and nursing care is also driving the demand, as these facilities support patients in post-surgery recovery. Such agencies serve a large number of elderly people facing difficulty in swallowing, which is expected to boost the adoption rate of enteral feeding formulas, thereby fueling market growth.
Gather more insights about the market drivers, restraints, and growth of the Global Enteral Feeding Formulas market
In addition, technological advancements and innovations in products are some of the other factors boosting the growth of the market for an enteral feeding formula. The broad product portfolio and robust product developments offered by key players in the market are positively impacting the market growth. Ready-to-drink (RTD), ready-to-use nutritional supplements, and tube feed along with tube feed for certain specific indications are some of the product categories gaining traction in recent years. For instance, PulmoCare, offered by Abbott, is a therapeutic nutrition feed for people suffering from COPD.
Furthermore, the risk of frailty and malnutrition amongst the geriatric population with comorbidities, such as diabetes, stroke, dementia, and depression, is much higher mainly due to various age-related changes in muscle mass and body composition. This often results in reduced ability to carry out or perform Activities of Daily Living (ADLs), thereby increasing the risk of injuries or falls. Therefore, it is important to analyze the pathophysiology behind the condition, mainly, nutritional deficiency. The increasing prevalence of conditions, such as malnutrition and anemia is likely to boost the adoption of enteral feeding formulas in the coming years. For instance, According to The Lancet published in 2020, around 33% of the world population was affected with anemia.
In addition, the rising number of COVID-19 cases in various geographies coupled with a large geriatric population, susceptible to various health conditions, are among the factors contributing to the growth of the market. In addition, weakened immunity and health due to comorbidities increase the severity of COVID-19 in the geriatric population. This is expected to increase the adoption of enteral feeding formulas and processes. For instance, according to an article published in Europe PMC in 2020, enteral nutrition is generally preferred over parenteral nutrition for COVID-19 patients admitted to the ICUs. In addition, it should be provided within 48 hours of admission. Hence, such instances signify increasing adoption of enteral feeding formulas during the pandemic.
Moreover, lack of understanding and awareness with respect to clinical nutrition in the medical and healthcare community is limiting its adoption and growth. Furthermore, clinical nutrition needs a prescription and higher supervision by medical professionals which further limits the growth of the market. In addition, although these products are gaining acceptance, they are not completely understood by physicians, patients, and pharmacists. This is one of the major factors that prevent doctors from prescribing, recommending, or adopting clinical nutrition, thereby restraining market growth.
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Market Share Insights
In 2020- According to an article published in Europe PMC, enteral nutrition is generally preferred over parenteral nutrition for COVID-19 patients admitted to the ICUs. In addition, it should be provided within 48 hours of admission.
Key Companies profiled:
Some prominent players in the global Enteral Feeding Formulas market include
- Abbott
- Danone SA
- Fresenius Kabi
- Nestlé
- Victus, Inc.
- Primus Pharmaceuticals, Inc.
- Meiji Holdings. Co., Ltd.
- Rickett Benckiser Group Plc.
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