The Latin America, Middle East and Africa Enteral Feeding Formulas Market would witness market growth of 12.0% CAGR during the forecast period (2022-2028).
Different formulations for enteral feeding are now commercially available to deliver nutrients. Increased healthcare spending, a rise in preterm births worldwide, an aging population that requires enteral feeding, an increase in the prevalence of chronic illnesses like diabetes, cancer, gastrointestinal diseases, and neurological disorders, growing awareness of the benefits of enteral nutrition, and rapid advancements in healthcare infrastructure in developing nations are all anticipated to propel the market during the forecast period. Additionally, the market is anticipated to be driven by the switch from parenteral nutrition to enteral nutrition due to cost-effectiveness and nutritional benefits, as well as the expanding use of enteral feeding formulae in long-term care facilities.
For instance, according to a study that was published in the Gastroenterology journal in 2021, two-fifths of adults globally suffer from a functional gastrointestinal condition. Also, the demand for tube feeds among adults with neurovascular illnesses who want to improve their nutritional status and quality of life also has a beneficial impact.
Due to a sizable client base and an increase in the prevalence of chronic diseases and other problems, the Latin American market offers tremendous growth potential. Latin America's two largest enteral feeding formula consumers are Brazil and Argentina. Growing geriatric populations, increased rates of chronic illnesses like diabetes, cancer, gastrointestinal ailments, neurological disorders, psychiatric conditions, hypermetabolism, and an increase in preterm births are some of the factors behind the expansion.
The Brazil market is leadingt the LAMEA Enteral Feeding Formulas Market by Country in 2021; thereby, achieving a market value of $163.1 million by 2028. The Argentina market is estimated to grow at a CAGR of 12.6% during (2022 - 2028). Additionally, The UAE market is expected would experience a CAGR of 11.7% during (2022 - 2028).
Based on End User, the market is segmented into Hospitals, Long Term Care facilities, Nursing Homes, Assisted Living Facilities, and Home Care Agencies & Hospices. Based on Application, the market is segmented into Oncology, Neurological Disorders, Gastrointestinal Diseases, Diabetes, and Others. Based on Stage, the market is segmented into Adults and Pediatric. Based on Product, the market is segmented into Standard Formula, Disease specific, Diabetic Formula, Renal Formula, Hepatic Formula, Pulmonary Formula, Peptide-based Formula, Other Disease Specific Formula, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Enteral Feeding Formulas Market is Predict to reach $8.6 Billion by 2028, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Danone S.A. (Sofina Group), Nestle S.A., Fresenius SE & Co. KGaA, B. Braun Melsungen AG, Otsuka Pharmaceutical Co., Ltd., Meiji Holdings Co., Ltd., Reckitt Benckiser Group PLC, Hormel Foods Corporation and Medline Industries, Inc.
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