Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Enteral Feeding Formulas Market size is expected to reach $8.6 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Hospitals market is leading the Global Enteral Feeding Formulas Market by End User in 2021; thereby, achieving a market value of $3.1 billion by 2028. The practitioner has a variety of nutrient delivery strategies available for patients who cannot tolerate oral consumption. Enteral nutrition (EN) administration has long been regarded as the gold standard of therapy for patients who are unable to eat enough food to meet their energy and protein needs. Healthcare professionals need to be very careful when ordering, delivering, and monitoring EN therapy.
The Neurological Disorders market is estimated to grow at a CAGR of 8.2% during (2022 - 2028). Patients with neurological illnesses frequently experience malnutrition and weight loss as a result of inadequate oral intake, which is linked to higher rates of morbidity, disability, and mortality. Enteral feeding is frequently utilized to offer nutritional support for neurological patients and is essential for their nutritional control.
The Adults market acquired the highest market share in the Global Enteral Feeding Formulas Market by Stage in 2021; thereby, achieving a market value of $5.8 billion by 2028. It is because of the rising use of enteral feeding tubes among individuals with multi-illnesses, like chronic liver disease, multiple sclerosis, and diabetes. Diseases like cancer and chronic obstructive pulmonary disease (COPD) also demand the usage of feeding tubes.
The Disease specific market would showcase a CAGR of 7.4% during (2022 - 2028). A rise in the frequency of chronic illnesses, including diabetes, cancer, and cardiovascular conditions is propelling the growth of this segment. Additionally, manufacturers' increased efforts to create and market dietary supplements tailored to the needs of patients with particular diseases have spurred category growth. It is also anticipated that a rise in the use of immune-modulating and disease-specific medications to treat a number of chronic diseases will accelerate segment expansion.
The North America market dominated the Global Enteral Feeding Formulas Market by Region in 2021; thereby, achieving a market value of $3.1 billion by 2028. The Europe market is experiencing a CAGR of 8.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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