The Convergence of Factors, Including Demographics, the Rising Prevalence of Chronic Diseases and the Steady Rise of Preterm Births Would Enable the Enteral Feeding Formula Market to Grow During the Forecast Period of 2023-2028

The Enteral Feeding Formula Market Size is estimated to reach $1.9 billion by 2028 and it is poised to grow at a CAGR of 6.8% over the forecast period of 2023-2028. The demand for enteral feeding solutions, which aid patients with oral intake challenges, is anticipated to increase as chronic diseases like cancer, stroke, multiple sclerosis, dementia, liver failure, renal failure, cardiovascular disease and diabetes becomes more prevalent. The increasing number of Nursing and Assisted Living facilities are also pushing the market up. North America held a dominant market share of 35% in 2022. This is mainly attributed to the growing burden of chronic diseases such as diabetes, cancer and other neurological conditions.

Enteral Feeding Formula Market Drivers

The Surge in the Geriatric Population:

The demographic scenario is shifting drastically with the distribution of a country's population gradually leaning towards older ages. As per the WHO, between 2021 to 2050, the proportion of the world's population over 60 years is expected to almost double and reach over 20%. The geriatric population is prone to several age-related complications which can hamper their capability to chew or ingest food. As per the NIH, the prevalence of Dysphagia can reach up to 40% depending on the region. Additionally, the prevalence of dementia increases by around 5% in those aged over 70 years, whereas it increases by around 25% in those aged over 85 years.

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The Growing Incidence of Chronic Illness:

According to the World Heart Federation, the leading cause of death worldwide was coronary heart disease. Every year, an estimated 3.8 million men and 3.4 million women die from coronary heart disease. Furthermore, low- and middle-income countries account for 80 percent of all deaths. By 2030, the prevalence of IBD would have increased by half, with an estimated 400,000 Canadians diagnosed, accounting for about 1% of the population. Furthermore, an increase in the number of premature births, as well as growing nutritional deficiencies, such as severe protein and other micronutrient deficiencies in infants and pregnant women, would drive the demand for nutritional requirements, boosting the overall market growth. 

Partnerships and Product Launches

In June 2021, Primavera Capital Group ("Primavera") entered into an agreement with Reckitt Benckiser Group plc to acquire Mead Johnson Nutrition Company, a global leader in infant formula and nutrition.

In October 2020, Nutricia acquired Real Food Blends, a Chesterton, IN-based developer of real food meals for people with feeding tubes. Nutricia is a subsidiary of Danone, a key leader in food, beverage and nutritional products.

Major Companies in the Market

The Major Companies of Lung Cancer Surgery include Nestle SA, Danone SA, Abbott Laboratories, Mead Johnson & Company, LLC, Hormel Foods Corporation, B. Braun Melsungen AG, Meiji Holdings Co., Ltd, Medline Industries, Inc, Medtrition, Inc. and Victus, Inc.