Enteral Feeding Formulas Market Is Predicted To Grow Quickly Due To Increasing Geriatric Population Till 2024: 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
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.
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