The global enteral nutrition market is estimated to be valued at US$ 2,635.9 million in 2020 and is expected to exhibit a CAGR of 5.8% over the forecast period from 2020 to 2027.
A) Market Overview:
The enteral nutrition market is experiencing significant growth due to several factors. One of the key drivers of this market is the rising prevalence of chronic diseases, especially in developed countries like the United States. Chronic diseases such as cancer, diabetes, and gastrointestinal disorders often result in malnutrition, leading to the need for enteral nutrition as a source of essential nutrients. Additionally, the increasing geriatric population, growing awareness about the benefits of enteral nutrition, and advancements in enteral feeding devices also contribute to the market growth. However, stringent regulations and high costs associated with enteral nutrition products are major obstacles in the market.
B) Market Key Trends:
One key trend in the enteral nutrition market is the increasing demand for home-based enteral nutrition. Many patients prefer home-based enteral nutrition therapy over hospital stays due to its convenience and cost-effectiveness. This trend has been further accelerated by advancements in technology, such as portable feeding pumps and enteral feeding tubes with improved functionality. For example, companies like Abbott Laboratories and Fresenius Kabi AG have introduced compact and user-friendly enteral feeding devices that can be easily used at home. The COVID-19 pandemic has further emphasized the importance of home-based care, leading to a rise in demand for home enteral nutrition.
C) Segment Analysis:
The Global Enteral Nutrition Market is segmented based on product type, end-user, and region. The product type segment includes standard formulas, pediatric formulas, and disease-specific formulas. Among these, standard formulas dominate the market due to their wide application and availability. In the end-user segment, hospitals and ambulatory surgical centers hold a significant market share as these institutions cater to a large number of patients requiring enteral nutrition therapy. The North America region dominates the enteral nutrition market, primarily driven by the high prevalence of chronic diseases in the United States, along with well-established healthcare infrastructure and reimbursement policies.
D) Key Takeaways:
The global enteral nutrition market is expected to witness high growth, exhibiting a CAGR of 5.8% over the forecast period, due to increasing prevalence of chronic diseases and the growing geriatric population.
The United States is the fastest-growing and dominating region in the enteral nutrition market, attributed to the high occurrence of chronic diseases and favorable healthcare policies.
Some of the key players operating in the global enteral nutrition market include Abbott Laboratories, Nestlé S.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company, LLC, B. Braun Melsungen AG, Otsuka Pharmaceutical Co., Ltd, Meiji Holdings Co., Ltd., Bahrain Pharma, Bionova Lifesciences, Global Health Products Inc., Victus Inc., and Curtis Health Caps SP.
In conclusion, the enteral nutrition market is witnessing significant growth due to the rising prevalence of chronic diseases and the increasing demand for home-based enteral nutrition. With advancements in technology and the introduction of innovative feeding devices, the market is expected to continue to expand in the coming years. Key players in the industry are focusing on developing quality products and expanding their geographical presence to strengthen their market position.
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