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Global Enteral Feeding Formulas Market to Grow at a CAGR of 7.1% During 2022-2027, Driven by the Rising Demand to Treat Severely Affected COVID-19 Patients

According to a new report by EMR titled, ‘Global Enteral Feeding Formulas Market Report and Forecast 2022-2027’, the market attained a value of about USD 7.1 billion in 2021. The industry is further expected to grow at a CAGR of 7.1% in the forecast period of 2022-2027 to reach a value of nearly USD 10.8 billion by 2027.

North America is projected to hold a significant share in the global market for enteral feeding formulas over the forecast period. This can be associated with a large percentage of geriatric population, huge investments into research and development (R&D) projects, and the growth of the healthcare sector in the region. Apart from this, the advent of the coronavirus pandemic positively influenced the market growth of enteral feeding formulas during the historical period. The virus impacts the respiratory system of the infected person and is also known to have adverse effects on the gastrointestinal tract of severely affected patients. Initiating early enteral nutrition (EN) within 24-36 hours of ICU admission or within 12 hours of intubation and placement of mechanical ventilation has been recommended for treating critically affected COVID-19 patients, according to a research study published in the Society of Critical Care Medicine and the American Society for Parenteral and Enteral Nutrition in 2020. These are some of the factors providing impetus to the market.

Otsuka Pharmaceutical Factory Inc. (TYO: 4578), a renowned name in the global market for enteral feeding formulas, in June 2020, announced the launch of new flavours to expand the existing portfolio of ENORAS liquid for enteral use.  The product is a concentrated (1.6 kcal/mL) polymeric enteric nutrition formula based on the latest nutritional information to efficiently provide nutrients and energy in small amounts. The new releases mark the introduction of four new flavours, including yoghurt, apple, strawberry, and coffee, so that patients can select and use them according to their taste. In addition, the light weight and easy to discard aluminium packaging makes the product easy to store. Such developments by leading market players are providing impetus to the market.

Market Analysis by Product, Flow type, Stage, Indication, End User, and Region:

  • Based on its products, the market can be divided into standard formula and disease specific formula.
  • On the basis of flow type, the market can be segmented into intermittent feeding flow and continuous feeding flow.
  • The market, based on stage, can be categorised into adults and paediatrics.
  • Based on indication, the market can be categorised into Alzheimer’s, nutrition deficiency, cancer care, diabetes, chronic kidney diseases, orphan diseases, dysphagia, pain management, and malabsorption/GI disorder/ diarrhea, among others.
  • On the basis of end users, the market can be classified into hospitals and home care.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising demand from people suffering from cardiovascular disorders who have difficulty consuming food orally.
  • The market growth can be associated with robust research and development (R&D) by leading market players.
  • The market growth has been aided by the rise in the number of preterm births, where enteral feeding formulas are used to meet nutritional requirements in new-born babies.
  • The rising number of home health agencies and nursing care institutes, which offer post-op medical care are adding to the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global enteral feeding formulas industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for products, flow types, stages, indications, end users, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global enteral feeding formulas market are Danone S.A., Nestlé S.A., Abbott Nutrition, Mead Johnson & Company, LLC, and Fresenius Kabi AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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