Enteral Feeding Formula Market Overview:
With the increasing geriatric population, increasing chronic diseases and premature births, the growth in enteral feeding formula market have been increased. U.S. leads global enteral feeding market with a huge contribution towards the market, valued at $1870.2 million in 2017 and is estimated to grow to $2647.7m in 2023 at a CAGR of 5.6% during the forecast period 2018-2023.The standard formula segment holds largest part in the revenue of Enteral feeding market with almost 64.3% of total revenue.
Enteral Feeding Formula Market Outlook:
The growth of Enteral feeding formula market has been increased because of increase in patients affected by chronic diseases, preterm births and so on. Based on the condition of the patient, different types of formulas are being provided through different types of feeding tubes. Standard formulas provide nutrition, while semi-elemental formulas provide nutrients along with proteins and fats broken down into small pieces making it easy for digestion. Specialized formulas are to those who are allergic to certain foods and to those who are suffering with Crohn’s disease and could not digest fat and protein properly. Also modular products are available that may be added to formula to those who need additional nutrition. These formulas are available in both powder and liquid form. Standard formulas has certain ingredients like Corn syrup solids, glucose, fructose, maltodextrin, lactal bumin, casein, soy protein isolate, whey protein, corn oil, canola oil, meat ingredients and such others. The global enteral formulas are priced in the range of $2 to $10. The highest price of enteral formulas was ranged at 10 dollars for Specialty formulas.
Enteral Feeding Formula Market Growth drivers:
Increase in the patients suffering with cardiovascular diseases, cancer and diabetes which are the leading death causing diseases, has driven the enteral feeding formula market. According to World Health organization (WHO), 17.9million people died from cardiovascular diseases. The patients in ICUs are not comfortable in taking food orally therefore it will become necessary to give the required nutrients through enteral feeding. Also, with the increased quality of the diet provided through tube feeding, the consumers of the enteral feeding market has been increasing drastically. With the increase in geriatric population, the need for tube feeding has also been increasing, as they cannot be able to consume their food orally.
Enteral Feeding Formula Market Challenges:
Huge varieties of formulas are available for feeding in enteral procedures and usage of one formula to a person who is not suitable for that formula results in certain side effects. Certain types of peoples are allergic to certain proteins, fatty acids (Food Allergies from offenders like milk and lactose, corn, eggs, tree nuts, soy, wheat and gluten, fish and shellfish) and are required to take the formulas that are suitable for his or her condition. Thus complexity in selection of the right formula is reducing the growth of the market.
Developing a quality assured formula requires a high level of research and development as the formula delivered through the pipe must provide the enough nutrition to the body as per the requirement and the state of condition of condition of the body without effecting the recovery process. This could be a great challenge to the market with the need to satisfy all the regulatory norms. Also, expenditure in such research and development process could be a considerable issue for the startup companies.
Enteral Feeding Formula Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Enteral feeding formula market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of formulas in the Enteral feeding formula market and their specific Therapeutics based on different types of requirements.
Enteral Feeding Formula Market Report: Industry Coverage:
Enteral Feeding Formula Market – By type: Standard formula, Specialty formula, Blenderized formula, elemental formula, semi-elemental formula, polymeric formula, Fiber supplemented formula and others
Enteral Feeding Formula Market – By Age Category: adults and children
Enteral Feeding Formula Market – By Flavor type: Vanilla, Strawberry, Butter pecan and unflavored.
Enteral Feeding Formula Market – By Form: Powder, liquid and others
Enteral Feeding Formula Market – By Mode of delivery: oral, gastric. Trans-pyloric
Gastrointestinal disease, Neurological impairment, Pulmonary disease, congenital heart disease, Diabetes, Kidney failure, Liver disorders, Cystic fibrosis, Crohn’s disease, Choanal atresia, Malabsorption and so on.
Enteral Feeding Formula Market – By Therapeutic area: Gastrointestinal disease, Neurological impairment, Pulmonary disease, congenital heart disease, Diabetes, Kidney failure, Liver disorders, Cystic fibrosis, Crohn’s disease, Choanal atresia, Malabsorption and so on.
The Enteral Feeding Formula market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia.
Enteral Feeding Formula Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include:
Abbott laboratories, Nestle S.A., DANONE S.A., Novartis AG, Mead Johnson Nutrition Company, Hormel Foods LLC, Victus Inc., Meiji Holdings, Fresensis Kabi AG, B. Braun Melsungen AG and some other players.
Market Research and Market Trends of Enteral Feeding Formula Market:
- Neocate LCP is a product for children and teens with cow’s milk allergy was launched in 2017 by Danone S.A., one of the key players of the Enteral Feeding Formula market. According to Danone S.A. it is the first and only hypo-allergic and ready-to-use amino acid based formula for children and teenagers with cow’s milk or multiple food allergies, available in powder form.
- Arginine enriched enteral formula was found to be capable of providing a desired result in the healing of pressure ulcers. It was also found it not only good in healing nourished patients, but also non-nourished patients.
- Nestlé Health Science, one of the key players in the market, opened a global R&D center in Bridgewater, N.J., U.S.A. on Dec 3rd, 2018. The establishment of the Research Center has been funded with the investment of USD $70 million, completed successfully after 3 years. This advances the offerings by the company to the power of nutrition to the people. It also accelerates the innovations in Consumer care, Medical Nutrition and Novel Therapeutic Nutrition.
- Abbott, one among the key players of the market, introduces two Science-Based Nutrition drinks which helps the patients in recovering better from Surgeries. Ensure Surgery Immunonutrition Shake and Ensure Pre-Surgery Clear Nutrition Drink helps in faster development of immunity before and after the surgical procedures.