At 9.1% CAGR Growth, Enteral Feeding Formulas Market Share Will Reach USD 9.9 billion by 2030
The rapidly aging population and high frequency of diseases are the main market drivers for the enteral feeding formula market.
The global population is aging at a rapid pace, with a significant increase in the number of older adults. As people age, they are more prone to age-related conditions, chronic diseases, and degenerative disorders that can affect their ability to consume an adequate diet orally.
This growing geriatric population creates a higher demand for enteral feeding formulas to meet their nutritional needs. Chronic diseases such as cancer, diabetes, gastrointestinal disorders, and neurological conditions are becoming increasingly prevalent worldwide.
From 2023 to 2030, the worldwide enteral feeding formula market is estimated to increase at a 9.1% CAGR. It is predicted to grow from USD 4.6 billion in 2023 to more than USD 9.9 billion by 2030.
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These conditions often result in malnutrition, impaired swallowing, or difficulty in absorbing nutrients, necessitating the use of enteral feeding formulas. Enteral feeding formulas are crucial in preventing and treating malnutrition, as they provide a controlled and balanced source of essential nutrients, ensuring individuals receive adequate nutrition.
The Enteral Feeding Formulas Market Key Competitors Include Abbott, Nestlé, Danone S.A., Fresenius Kabi, B. Braun Melsungen Ag, Otsuka Holdings Co., Ltd., Nutritional Medicinals, Llc, Kate Farms, Medtrition Inc., Victus, Inc, Global Health Products Inc, Meiji Holdings, Reckitt Benckiser Group.
August 11, 2023, Fresenius Kabi, NEW Label Design for Enteral Nutrition Products.
Hospitalizations and surgical procedures often require the use of enteral feeding to ensure patients receive the necessary nutrition during their recovery period. There is a growing trend towards home-based care, where patients receive medical treatments and support in the comfort of their homes.
Patients' ignorance is a barrier to the market growth for enteral feeding formulas.
When patients lack awareness of enteral feeding formulas and their benefits, they may not seek appropriate treatment or may delay seeking medical advice. This delay can result in suboptimal nutrition and lead to complications related to malnutrition.
Timely initiation of enteral nutrition support can help prevent and manage malnutrition effectively, improving patient outcomes. Lack of awareness may hinder timely access to enteral feeding formulas and delay necessary treatment.
Patients who are not aware of enteral feeding formulas may not recognize them as a viable option for meeting their nutritional needs. They may continue to struggle with oral intake or resort to inadequate self-management strategies.
This underutilization can result in prolonged malnutrition, compromised healing, and poorer overall health. Patient awareness is essential in ensuring that those who can benefit from enteral feeding are informed about its availability and potential advantages
The development of new products and modernization creates opportunities in the enteral feeding formula market.
The introduction of new products and formulations in the enteral feeding formula market expands the available options for healthcare professionals and patients. Innovative products may offer improved nutritional profiles, specialized formulations for specific medical conditions, enhanced taste and texture, and better compatibility with feeding systems.
This wider range of choices allows healthcare professionals to tailor enteral nutrition therapy to individual patient needs, leading to better patient outcomes. Innovation in enteral feeding formulas can address previously unmet needs in the market.
New products may be developed to cater to specific patient populations, such as pediatric patients, individuals with food allergies or intolerances, or those with unique nutrient requirements.
These specialized formulas fill gaps in the market, ensuring that a broader range of patients can receive appropriate nutrition support.
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