New York, NY -- (SBWIRE) -- 01/18/2021 -- The market is driven by the higher prevalence of chronic diseases such as diabetes, cancer, dementia, liver disease, and chronic pulmonary obstructive disease.
Market Size – USD 5.49 Billion in 2019, Market Growth - CAGR of 7.5%, Market Trends

The higher prevalence of chronic diseases such as cancer, dementia, liver disease, diabetes and chronic pulmonary obstructive disease (COPD).

The Enteral Feeding Formulas Market size is expected to rise from USD 5.49 billion in 2019 to USD 10.13 billion by 2027, during the forecast period, delivering a CAGR of 7.5%. The rising geriatric population, chronic diseases, premature births, high health care spending and high demand for home care are mainly driving the market.

The enteral feeding formula market has been propelled by a rise in patients suffering from cardiovascular disease, cancer and diabetes, the leading disease-causing deaths. The growth of new innovations in products is demonstrated by continuous clinical trials. The growing number of new product launches is another key factor that positively impacts tube feed demand growth. For the administration of nutrients into the intestine or the stomach through the tubing, enteral tube feeding is used, and this refers to those patients that are unable to fulfil the nutritional requirements or are unable to absorb nutrients orally. For enteral formula feeding, various kinds of tubes, such as nasojejunal tubes, nasogastric tubes, gastrostomy, and jejunostomy, are available.

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The major players in the market are Abbott Laboratories (U.S.), Danone S.A. (France), Fresenius Victus Inc. (U.S.), Kabi AG (Germany), B. Braun Melsungen AG (Germany), Global Health Product Inc. (U.S.), Mead Johnson Nutrition Company (U.S.), Nestle (Switzerland), Hormel Foods, LLC (U.S.), Meiji Holdings Co., Ltd. (Japan), and others.

In enteral procedures, vast varieties of formulas are available to feed a person. Choosing a specific method for a person is not appropriate as such a formula results in different side effects. Few people are allergic (milk and lactose, corn, eggs, tree nuts, soy, fish, and others) to specific proteins, fatty acids, and are forced to take formulas supposed to be suitable for their condition. As a consequence, difficulty in choosing the correct approach limits market growth.

Further key findings from the report suggest

- The market size for enteral feeding formulas is projected to increase from USD 5.49 billion in 2019 to USD 10.13 billion by 2027, at a CAGR of 7.5% during the forecast period. The rising geriatric population, chronic diseases, premature births, high health care spending and high demand for home care are mainly driving the market.

- In 2019, oncology dominated the industry with more than 38% share in the market, based on application. The highest growth is projected to amount to USD 3.68 billion in 2027, delivering a CAGR of 7.9% during the forecast period. The difficulties faced by these patients and rising incidences of head and neck cancer are leading to increased revenue share. Significant weight loss has been reported in patients suffering from head and neck cancer, which has, in turn, increased demand for tube feeding. It has been observed that until they started medical care, nearly 40-50% of patients with head and neck cancer suffered from malnutrition.

- The adult enteral feeding formulas market is projected to amount to USD 7.26 billion in 2027, delivering a CAGR of 8.8% during the forecast period. Increased tube feed adoption among adults is one of the key factors driving development. In addition, the market availability of a significant number of tube feeds for adults also leads to its increased sales share.

- The standard enteral feeding formulas market is projected to rise to USD 6.23 billion in 2027, with a CAGR of 8% in the forecast duration. Rising micro- and macro-nutrient deficiency among hospital patients stimulate their demand during both pre- and post-surgery. For patients with no trouble digesting and consuming nutrients, these tube feeds usually contain proteins and polysaccharides. Combined with increased demand for low-cost nutrient formulations, the availability of a wide range of standard formulas drives their development.

- The demand in North America enteral feeding formulas market is projected to hit USD 3.39 billion in 2027, during the forecast period, registering a CAGR of 7.9%. Their regional demand is motivated by the rising burden of chronic diseases, such as diabetes, cancer, and other neurological conditions. In 2018, nearly 34 million Americans suffered from diabetes. The advantageous reimbursement situation allows patients to follow tube feeds as Medicare claims cover enteral feeding.

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For the purpose of this study, the Enteral Feeding Formulas Market is segmented on the basis of type, form, age, application, flavor, and region:

Type Outlook (Revenue, USD Million; 2017-2027)
- Standard Formula
- Specialty Formula
- Blenderized Formula
- Elemental Formula
- Semi-Elemental Formula
- Polymeric Formula
- Fiber Supplemented Formula
- Others

Age Outlook (Revenue, USD Million; 2017-2027)
- Adult
- Infants

Form Outlook (Revenue, USD Million; 2017-2027)
- Powder
- Liquid
- Others

Flavor Outlook (Revenue, USD Million; 2017-2027)
- Vanilla
- Strawberry
- Butter pecan
- Unflavored

Application Outlook (Revenue, USD Million; 2017-2027)
- Oncology
- Neurology
- Diabetes
- Critical care

Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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Table of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Enteral Feeding Formulas Segmentation & Impact Analysis
4.1. Enteral Feeding Formulas Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis

Continued…

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