by 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 (2020-2027).
A) Market Overview:
Enteral nutrition, also known as tube feeding, is a method of providing nutrition directly into the digestive tract through a tube. This method is used when a patient is unable to take food orally or has difficulty swallowing. Enteral nutrition products include specialized formulas that provide all the necessary nutrients such as proteins, carbohydrates, fats, vitamins, and minerals. These products are widely used in hospitals, nursing homes, and home care settings.
B) Market Dynamics:
The Enteral Nutrition Market Growth is driven by two key factors – the rising geriatric population and the increasing incidence of chronic diseases. The global geriatric population is expected to reach 2.1 billion by 2050, according to the World Health Organization (WHO). This elderly population is prone to various diseases and conditions that affect their ability to properly consume and absorb nutrients. This creates a high demand for enteral nutrition products.
Furthermore, the prevalence of chronic diseases such as cancer, diabetes, and gastrointestinal disorders is increasing rapidly. These diseases often require specialized nutritional support, which further drives the demand for enteral nutrition products. For example, patients undergoing cancer treatment often experience difficulty eating and may require enteral nutrition to maintain their nutritional status.
C) Segment Analysis:
In terms of product type, the market is segmented into standard formulas and disease-specific formulas. Standard formulas are widely used and account for the majority of the market share. However, disease-specific formulas are expected to witness significant growth in the forecast period due to increasing demand for specialized nutritional support for specific conditions.
D) PEST Analysis:
Political: Government regulations and policies related to healthcare and medical devices can impact the sales and distribution of enteral nutrition products.
Economic: Increasing healthcare expenditure and a growing patient pool are favorable economic factors driving the market.
Social: Growing awareness about the importance of proper nutrition and increasing healthcare facilities in developing regions are social factors contributing to market growth.
Technological: Advancements in enteral feeding devices and the development of innovative formulas are technological factors that drive market growth.
E) 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 the increasing geriatric population and the rising incidence of chronic diseases.
The Asia Pacific region is expected to be the fastest-growing and dominating region in the enteral nutrition market, owing to the growing geriatric population and increasing healthcare infrastructure.
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. These companies are focusing on product innovation and strategic collaborations to strengthen their market position.
In conclusion, the global enteral nutrition market is projected to experience significant growth in the coming years, driven by the increasing geriatric population and the rising prevalence of chronic diseases. The market offers lucrative opportunities for key players to introduce innovative products and expand their presence in developing regions.
