North America Enteral Feeding Formulas Market Size, Share & Industry Trends Analysis Report By End User, By Application (Oncology, Neurological Disorders, Gastrointestinal Diseases, Diabetes), By Stage, By Product, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Enteral Feeding Formulas Market would witness market growth of 8.0% CAGR during the forecast period (2022-2028).
A rise in the incidence of malnutrition linked to higher ICU mortality is one of the major causes pushing the adoption of enteral feeding formulas. Despite being a common illness that is commonly ignored and unappreciated globally, malnutrition has a significant death rate in several regions of the world. For instance, malnutrition is thought to be the cause of roughly 45% of fatalities among children under the age of five, with mortality rates being greater in low- and middle-income nations.
Additionally, one of the major factors influencing the market is a rise in product launches and product development by manufacturers. For instance, Victus, Inc. introduced "Abintra Care," a specialized nutritional supplement, in 2020. It contains a blend of important minerals, including vitamin C, antioxidants, zinc, and selenium. This simple-to-use rotating peristaltic pump facilitates the delivery of enteral nutrition. This device is safe and accurate since it has sound and light alarm features to warn the user in the event of a pipeline blockage or low battery voltage.
Due to the widespread use of enteral feeding formula in the region as a result of the high rate of preterm deliveries, North America is a major region in the enteral feeding formulas market. This region is heavily involved in the growing amount of enteral nutrition and mechanism research, development, and technological innovation.
The US market is leading in the North America Enteral Feeding Formulas Market by Country in 2021; thereby, achieving a market value of $2.3 billion by 2028. The Canada market is poised to grow at a CAGR of 10.5% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 9.5% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Long Term Care facilities
- Nursing Homes
- Assisted Living Facilities
- Home Care Agencies & Hospices
- Neurological Disorders
- Gastrointestinal Diseases
- Standard Formula
- Disease specific
- Diabetic Formula
- Renal Formula
- Hepatic Formula
- Pulmonary Formula
- Peptide-based Formula
- Other Disease Specific Formula
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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
- Medline Industries, Inc.
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