New York, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enteral Feeding Formulas Market by Product, Stage, Application, End User - Global Forecast to 2027" - https://www.reportlinker.com/p03693823/?utm_source=GNW
Apart from being cost-intensive, parenteral nutrition is also associated with complications such as infections. Thus, the demand for enteral feeding formula is growing globally. Factors such as rising healthcare costs; a surge in the number of preterm births; growth in the aging population; rising prevalence of chronic diseases such as diabetes, cancer, gastrointestinal diseases, and neurological disorders; growing awareness of enteral nutrition; and rapid improvements in healthcare facilities in emerging countries are expected to further drive the market during the forecast period. Moreover, the shift from parenteral nutrition to enteral nutrition and growing adoption of and demand for enteral feeding formula in long term care facilities are also expected to drive the market in the coming years. In addition, insufficient or lack of reimbursements in some developing and underdeveloped countries and a dearth of trained physicians across the globe pose significant challenges for the growth of this market.
Based on product, the standard formula segment holds the largest share during the forecast period.
Based on product, the enteral feeding formulas market is segmented into standard (polymeric), peptide-based (elemental/semi-elemental), disease-specific, and other formulas.In 2021 standard formulas held the largest share, followed by disease-specific formulas.
Standard formulas are easily available and widely used to fulfill daily requirements. The rising prevalence of target ailments thus plays a greater role in driving demand for standard formulas.
Based on application, the oncology segment holds the highest growth during the forecast period.
In 2021, the oncology segment accounted for the largest share of the enteral feeding formula market, followed by gastrointestinal diseases, neurological disorders, diabetes, and other applications. Increasing burden of cancer, the shift from hospitals to ambulatory care settings and the rising adoption of enteral feeding as an efficient alternative to parenteral nutrition among cancer patients are likely to fuel the demand for enteral feeding formulas in oncological applications.
Based on age group, the adult segment holds the largest share during the forecast period
Based on age group, the enteral feeding formula market is segmented into adult patients (18 years and over) and pediatric patients (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years).In 2021, there has been a increase in adult patients accounted for a larger market share.
This can be attributed to the growing incidence of cancer in adult patients, As most cancer patients suffer from malnutrition, an increase in cancer cases is expected to increase the demand for effective enteral nutrition. Also increase in chronic diseases are resulting in malnutrition and the rapid increase in the geriatric population are positively impacting market.
Based on end user, the long term care facilities holds the higher market share during the forecast period.
In 2021, Long term care facilities have a higher CAGR.Patients suffering from chronic diseases and disorders are advised long-term care or home care, depending upon the severity of the disease/disorder.
Due to the increasing pressure on hospitals to curtail the soaring healthcare costs and the COVID-19 outbreak, there has been a shift from extended hospital treatment toward treatment at home.Studies reveal that home enteral nutrition (HEN) is significantly cheaper than home parenteral nutrition in the US.
Growing awareness of therapeutic nutrition has contributed to the use of enteral nutrition products by patients at home.Thus end user segment registered higher market share.
APAC is expected to grow at the highest growth rate in 2021
During the forecast period, the Asia Pacific is estimated to be the fastest-growing regional market for enteral feeding formula. Several factors, such as the rising geriatric population, increased awareness of and accessibility to advanced healthcare facilities, rising healthcare spending, the growing focus of key market players on emerging APAC countries, and rapid improvements in the health insurance sector are driving the market growth.
The primary interviews conducted for this report can be categorized as follows:
• By Company: Tier 1- 60%, Tier 2 – 30%, and Tier 3- 10%
• By Designation: C-Level- 30%%, Director level - 50%, and Others - 20%
• By Region: North America -45%, Europe -15%, Asia-Pacific -25%, Latin America – 10%, and Middle East and Africa - 5%
Key players in the enteral feeding formula market
Prominent players in this market include Abbott (US), Nestlé S.A. (Switzerland), Danone S.A. (France), Fresenius Kabi (Germany), B. Braun Melsungen AG (Germany), Otsuka Holding Co. Ltd. (Japan), Nutritional Medicinals, LLC (US), Kate Farms (US), Medtrition Inc. (US), Victus, Inc. (US), Global Health Products, Inc. (US), Meiji Holdings Co., Ltd. (Japan), Reckitt Benckiser Group PLC. (UK), Hormel Foods Corporation (US), DermaRite Industries, LLC. (US), Medline Industries, LP. (US), Real Food Blends (US), and Ajinomoto Cambrooke, Inc. (US).
Research Coverage:
The report analyzes the enteral feeding formula market and aims at estimating the market size and future growth potential of this market based on various segments such as product, stage, application, end user and region.The report also includes a product portfolio matrix of various enteral feeding products available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global enteral feeding formula market. The report analyzes this market by product, stage, application, end user, and region
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global enteral feeding formula market
• Market Development: Comprehensive information on the lucrative emerging markets by product type, age group, application, end user, and region
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global enteral feeding formula market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global enteral feeding formula market.
Read the full report: https://www.reportlinker.com/p03693823/?utm_source=GNW
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