Enteral Feeding Formulas Market Is Driven By Progress In Various Chronic Diseases 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: www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market
Further key
findings from the report 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: 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: 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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