The global enteral feeding formulas market was valued at USD 6,697.08 million in 2020, and it is expected to reach USD 10,069.30 million by 2026, registering a CAGR of 7%, during the forecast period.
The outbreak of COVID-19 is expected to impact the enteral feeding formulas market, as good supportive care remains the cornerstone in managing critically ill patients with COVID-19 infection, within which nutritional management of the ICU admitted COVID-19 patients is an integral component of the supportive measures. According to the research article published in the Society of Critical Care Medicine and the American Society for Parenteral and Enteral Nutrition, 2020, initiating early enteral nutrition (EN) within 24-36 hours of admission to the ICU or within 12 hours of intubation and placement on mechanical ventilation is recommended in the treatment of COVID-19 patients. The publication also suggested that enteral nutrition be preferred over parenteral nutrition.
The enteral feeding formulas market is largely driven by increasing prevalence of metabolic and chronic disorder, increase expenditure on patient care and growing geriatric population. According to the World Heart Federation 2018, coronary heart disease is the leading cause of death worldwide. An estimated 3.8 million men and 3.4 million women die each year from coronary heart disease. In addition, 80% of the deaths occur in low- and middle-income countries. Moreover, rise in the number of premature births, growing nutritional deficiencies, such as severe deficiency of protein and other micronutrients in infants and pregnant women population will drive the demand for nutritional requirement, which ultimately boost the overall market growth.
Also, ageing is the major factor that is driving the market growth for the treatment. According to the United nations department of Economics and Social 2019 report, it was estimated that by the year 2050, one in six people around the world will be over age 65 years old (16%), up from 1 in 11 in the year 2019 (9%). By the year 2050, 1 in 4 persons living in Europe and Northern America could be aged 65 or over that. In the year 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years and above is projected to be the triple, from 143 million in the year 2019 to approximately 426 million in 2050.? Also, according to the article published on National Center for Biotechnology Information 2018, the prevalence of nutrient deficiency in the geriatric population is around 15% in ambulatory outpatients and 35%-65% among hospitalized patients. Thus, the demand for enteral nutrition will rise with the growing geriatric population. Furthermore, the rising healthcare expenditure in developed and developing countries and the increasing demand for home healthcare services will also boost the enteral feeding formulas market growth.
Key Market Trends Oncology Segment is Expected to Hold a Major Market Share in the Enteral Feeding Formulas Market
The majority of cancer patients suffer from cancer cachexia, which causes insulin resistance, increased lipolysis with loss of body fat, increased protein turnover, and loss of muscle mass, causing loss of appetite and weight.
As per the International Agency for Research on Cancer (IARC) in December 2020, estimated that globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. IARC estimated that in 2020, the prevalence of cancer has risen to 19.3 million cases and 10 million cancer deaths in 2020, which was around 18 million cancer cases around the world in 2018. With this growing burden, the prevention of cancer is one of the most significant challenges. The cancer burden differs by region. Almost half of the cancer prevalence occurs in Asia, and in Europe, one-quarter of the population is suffering from cancer. Furthermore, to improve the clinical condition of cancer patients, providing nutrition is the cornerstone, as it becomes very difficult for cancer patients to take the food orally. As the treatment proceeds, nutrition is supplied by enteral feeding tubes to enable them to maintain the body mass.
Furthermore, the research presented in the 2020 Virtual Congress on Clinical Nutrition and Metabolism, the annual conference of the European Society for Clinical Nutrition and Metabolism (ESPEN), demonstrated that Kate Farms’ plant-based, oral, enteral formulas (PBEF) can help adult oncology patients maintain or gain weight, allowing them to receive the treatment they need. Hence, the increasing incidence and prevalence of cancer may contribute to the growth of the market studied, during the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is expected to dominate the enteral feeding formulas market, because of the factors, such as the rapid aging population, the surging prevalence of preterm birth, and the rise in the number of chronic disease patients. According to the Population Reference Bureau’s Population Bulletin Aging in the United States, the Americans aged 65 and older are projected to nearly double from 52 million in 2018 to 95 million by 2060.
The rise in the geriatric population will increase the cases of chronic diseases, such as cancer and diabetes, which will further lead to an increase in the hospital stay of the patient. According to the GLOBOCON 2020, the new cancer cases diagnosed were 2,281,658 in the United States in 2020, with 612,390 deaths. Among all cancers, breast cancer had the highest incidence with 253,465 cases, followed by lung (227,875), prostate (209,512), and colon (101,809) new cancer cases in 2020 in the United States. According to American Hospital Association, Fast Facts on US Hospitals, 2021, 36,241,815 admissions were reported in US Hospitals in 2019, with a total of USD 1,161,032,419,000 expense. Hence, all of the above-mentioned factors are expected to drive the growth of the market.
Competitive Landscape The enteral feeding formulas market is moderately consolidated. The key market players include Abbott Laboratories, Nestle SA, Danone SA, Fresenius Kabi AG, B. Braun Melsungen AG, Reckitt Benckiser Group plc. (Mead Johnson), Trovita Health Science, Global Health Product Inc., Meiji Holdings Co. Ltd, and Victus, among others.
Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - 3 months of analyst support
Our reports have been used by over 10K customers, including:
250 pages •
By The Business Research Company
• Sep 2021
Medication Adherence Global Market Opportunities And Strategies To 2030: COVID-19 Impact And Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global medication adherence market as it emerges from the COVID 19 shut down. Description: Where is...
Real-world data and real-world evidence are used to monitor the post-market safety and adverse events of drugs.The monitoring of this data assists in making regulatory decisions. The healthcare community is using RWE and RWD to support coverage decisions and to develop guidelines and decision support tools for use in clinical practice. The...
The global infection surveillance solutions market is to reach USD 1,033 million by 2026 from USD 508 million in 2021, at a CAGR of 15.2%. The growth in this market can primarily be attributed to the increasing incidence of HAIs and increasing surgical procedures. The rising healthcare expenditure, an increasing number of surgeries, the growing...
The global amniotic products market is projected to reach USD 1.0 billion by 2026 from USD 0.7 billion in 2021, at a CAGR of 8.2% during the forecast period. The growth in this market can be attributed to the growth in the target patient population, rising incidence of burn injuries, awareness programs for wound care treatment and management,...
The ablation technology market is projected to reach USD 8.1 Billion by 2026 from USD 5.2 Billion in 2021, at a CAGR of 9.3% during the forecast period. The growing elderly population has also driven the incidence of target conditions and contributed to the demand for effective treatment. However, the reuse and reprocessing of devices in developed...
The medical alert systems market is expected to grow from USD 6.8 billion in 2021 to USD 11.1 billion by 2026; it is expected to grow at a CAGR of 10.3% during the forecast period. The major driving factors for the growth of the medical alert systems market include increase in geriatric population, an increase in adoption of life saving and...
The global urinalysis market size is projected to reach USD 4.9billion by 2026 from USD 3.5billion in 2021, at a CAGR of 7.2% during the forecast period. Market growth is driven by factors such as increasing burden of UTIs, diabetes, and kidney & liver diseases, rising geriatric population and the subsequent increase in age- associated diseases...
The healthcare satellite connectivity market is expected to grow from US$ 6,797.22 million in 2021 to US$ 10,105.21 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The growth of the healthcare satellite connectivity market is mainly attributed to factors such as the government initiatives for promotion and...
The health information exchange market was valued at US$ 1,411.56 million in 2020 and is projected to reach US$ 3,326.98 million by 2028; it is expected to grow at a CAGR of 11.31% during 2020-2028. The market growth is primarily attributed to the rising government support for the adoption of EMR/EHR systems and growing emphasis on healthcare...
The global radiation detection, monitoring, and safety market is expected to grow at a CAGR of 6.9% during the forecast period to reach USD 3.1 billion by 2026 from an estimated USD 2.2 billion in 2021. The key factors propelling the growth of this market are growing security threats, the growing prevalence of cancer worldwide, increasing...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.