Global Enteral Feeding Formulas Market is Estimated to Reach US$ 6710 Mn by 2022, Due to an Increase in Number of Geriatric Population
The author of the report analyzed that the global enteral feeding formulas market was valued at US$ 4680 million in 2017. Increasing prevalence of chronic diseases coupled with growing incidence of preterm birth is one of the reason aiding the overall market growth.
The prevalence of malnutrition is increasing in geriatric population and is associated with a decline in their functional status. Older adults who reside in nursing facilities tend to be frail. They mostly face issues such as multiple comorbidities, protein energy malnutrition and increased risk of unintended weight loss. The Enteral Feeding Formulas Market in United States, approximately 5.8% of nursing facility residents receive enteral feeding. The prevalence is mostly higher for residents with cognitive impairment. For cognitively impaired residents, the tube feeding placements occur in acute care setting and also result in additional healthcare resources and high post insertion mortality rates within 60 days’ time frame of insertion.
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Enteral Feeding Formulas Market is Fragmented with the Presence of Small and Large Companies in the Market
Some of the key participants in the global enteral feeding formulas market are NUTRICIA, Mead Johnson & Company, LLC, Danone S.A., B. Braun Melsungen AG, Global Health Products, Inc., Victus, Inc., Meiji Holdings Co., Ltd, Hormel Foods, LLC, Byram Healthcare, Medline Industries Inc, Abbott Laboratories, Fresenius Kabi A, Nutritional Medicinals, LLC, HOIL BIOMAED INC., Real Food Blends, Nestlé S.A. amongst others. In 2016, Nutritional Medicinals, LLC announced its organic pediatric whole foods feeding tube formula and complete meal replacement with its newly launched ‘Nourish’ brand of products. The new product is plant-based formula and is free of food allergens.
The complications associated with initial placement of enteral feeding tubes is likely to pose a threat to the growth of the enteral feeding formulas market during the forecast year 2018 - 2026. Complications that can occur during the placement of nasogastric tubes include nasopharyngeal irritation and pain, and in patients who are confused and upset, it may further lead to agitation and combativeness. When feeding tubes are inadvertently placed into the lung, patients usually demonstrate some form of respiratory distress such as coughing, shortness of breath and inability to speak amongst others.
The growing healthcare expenditure of emerging economies provides a major opportunity to the enteral feeding formulas market to evolve during the forecast period. With the growing middle-class population and rising disposable income among the consumers in turn led to the rising healthcare expenditure. The expenditure on healthcare is increasing exponentially in emerging Enteral Feeding Formulas Market. As incomes are rising, people are spending more on healthcare and are demanding better healthcare services. Emerging countries, such as China, Brazil, India and Indonesia are home to almost half the global population. The consumers in these countries are becoming more conscious about their health.
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Polymeric Formulas are Most Preferred Among Other Types During the Forecast Year
The Region of North America is Dominating Enteral Feeding Formulas Market Due to Increased Cases of Cancer
The number of patients suffering from cancer in the state of Georgia was 48, 850 and that in Alabama was 26,160. The number was highest in Florida with 1,24,740 suffering from cancer in 2017. The numbers show that the region of North America has quite large number of people affected by cancer. It has been observed that patients who are mostly in third and fourth stage of cancer are incapable of consuming food orally owing to the strong effect of medicines and chemotherapies. Therefore, many of them opt for enteral feeding formulas.
Key Market segments Enteral Feeding Formulas market are:
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- Enteral Feeding Formulas Market – By Type
- Polymeric Formulas
- Monomeric Formulas
- Blenderized Foods
- Formulas for Specific Metabolic Needs
- Immune Enhancing Formulas
- Modular Formulas
- Hydration Solutions
- Enteral Feeding Formulas Market – By Stage
- Market By Application
- Market By End Users
- Long-Term Care
- Nursing Homes
- Homecare Agencies
- Enteral Feeding Formulas Market By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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