Enteral Feeding Formulas Market Is Expected To Reach USD 7.5 Billion By 2024:By Grand View Research, Inc
The global enteral feeding formulas market is expected to
reach over USD 7.5 billion by 2024, according to a new report by Grand View
Research, Inc. Key factors driving growth include increase in geriatric
population, rise in chronic diseases, rising preterm births, and increasing
demand for home care services.
The enteral feeding formulas market is expected to witness
lucrative growth over the forecast period, owing to a few benefits such as the
preservation of gastrointestinal tract structure and its functioning, low-cost
alternative to support the patient nutrition, and lowering of rate of
infection.
According to the WHO, an estimated 15 million babies are
born prematurely, which accounts for 1 in every 10 babies. Furthermore, nearly
1 million children die every year due to complications of preterm birth. The
growing nutritional requirements for neonates, infants, and children are
boosting the consumption of various enteral feeding products. Moreover, the
children suffering from chronic disease conditions and severe malnutrition are
expected to drive the use of specialized formulas over the forecast
period.
Increase in aging population will have a major impact on the
enteral feeding formulas market. The ageing population requires more focus to
treat chronic diseases like osteoporosis, heart disease, Alzheimer’s disease,
and others. According to Administration on Ageing, it is estimated that
approximately 80% of people aged 65 and above have at least one chronic
illness; as a result, the usage of various enteral feeding formulas is expected
to grow rapidly over the forecast period.
Browse full research report on Enteral Feeding Formulas
Market: http://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market
Further Key Findings from the Study Suggest:
- In
2015, standard formulas dominated the enteral feeding formulas market with
a revenue share of over 64.3%. The use of standard formulas from many
years is one of the key reasons for the high share. However, the
disease-specific formulas segment is expected to have the highest CAGR of
8.6%. The healthcare providers prefer the use of disease-specific formulas
to tackle the disease-based nutritional deficiencies in pediatric and
adult patients.
- The
oncology segment accounted for the maximum share of over 36% in 2015. The
diabetic segment is expected to be the fastest growing application with a
CAGR of 8.4% over the forecast period.
- North
America accounted for the majority share of over 38%, due to growing
disease burden, increase in geriatric population, growing number of
surgical procedures, increasing awareness about nutritional supplements,
and well-developed healthcare networks
- Some
key players operating in the market are Abbott Laboratories, Nestle S.A,
Danone S.A, Fresenius Kabi AG, B. Braun Melsungen AG, Mead Johnson &
Company, LLC. These players face intense competition and therefore, these
companies leverage their brand value and sales channel network to increase
their market share.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the enteral feeding
formulas into type, stage, application, end use and region.
Enteral Feeding Formulas Market, by Product (USD Million,
2015 - 2024)
- Standard
Formulas
- Disease
Specific formulas
Enteral Feeding Formulas Market, by Stage (USD Million,
2015 - 2024)
- Adults
- Pediatric
Enteral feeding Formulas Market, by Application (USD
Million, 2015 - 2024)
- Oncology
- Gastroenterology
- Neurology
- Diabetes
- Critical
care
Enteral Feeding Formulas Market, by End User (USD
Million, 2015 - 2024)
- Hospitals
- Long-term
care
- Homecare
Enteral Feeding Formulas Market, by Region, (USD Million,
2012 - 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
Access
press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-enteral-feeding-formulas-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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