The global enteral feeding formulas market is expected to reach
over USD 7.5 billion by 2024, according to a new report by Grand View Research,
Inc. Key factors driving growth include increase in geriatric population, rise
in chronic diseases, rising preterm births, and increasing demand for home care
services.
The enteral feeding formulas market is expected to witness lucrative growth
over the forecast period, owing to a few benefits such as the preservation of
gastrointestinal tract structure and its functioning, low-cost alternative to
support the patient nutrition, and lowering of rate of infection.
According to the WHO, an estimated 15 million babies are born prematurely,
which accounts for 1 in every 10 babies. Furthermore, nearly 1 million children
die every year due to complications of preterm birth. The growing nutritional
requirements for neonates, infants, and children are boosting the consumption
of various enteral feeding products. Moreover, the children suffering from
chronic disease conditions and severe malnutrition are expected to drive the
use of specialized formulas over the forecast period.
Increase in aging population will have a major impact on the enteral feeding
formulas market. The ageing population requires more focus to treat chronic
diseases like osteoporosis, heart disease, Alzheimer’s disease, and others.
According to Administration on Ageing, it is estimated that approximately 80%
of people aged 65 and above have at least one chronic illness; as a result, the
usage of various enteral feeding formulas is expected to grow rapidly over the
forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/enteral-feeding-formulas-market
Further Key Findings from the Study Suggest:
- In 2015, standard formulas dominated the enteral feeding formulas market with a revenue share of over 64.3%. The use of standard formulas from many years is one of the key reasons for the high share. However, the disease-specific formulas segment is expected to have the highest CAGR of 8.6%. The healthcare providers prefer the use of disease-specific formulas to tackle the disease-based nutritional deficiencies in pediatric and adult patients.
- The oncology segment accounted for the maximum share of over 36% in 2015. The diabetic segment is expected to be the fastest growing application with a CAGR of 8.4% over the forecast period.
- North America accounted for the majority share of over 38%, due to growing disease burden, increase in geriatric population, growing number of surgical procedures, increasing awareness about nutritional supplements, and well-developed healthcare networks
- Some key players operating in the market are Abbott Laboratories, Nestle S.A, Danone S.A, Fresenius Kabi AG, B. Braun Melsungen AG, Mead Johnson & Company, LLC. These players face intense competition and therefore, these companies leverage their brand value and sales channel network to increase their market share.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the enteral feeding formulas into type, stage, application, end use and region.
Enteral Feeding Formulas Market, by Product (USD Million, 2015 – 2024)
·
Standard Formulas
·
Disease Specific formulas
Enteral Feeding Formulas Market, by Stage (USD Million, 2015 – 2024)
·
Adults
·
Pediatric
Enteral feeding Formulas Market, by Application (USD Million, 2015 –
2024)
·
Oncology
·
Gastroenterology
·
Neurology
·
Diabetes
·
Critical care
Enteral Feeding Formulas Market, by End User (USD Million, 2015 –
2024)
·
Hospitals
·
Long-term care
·
Homecare
Enteral Feeding Formulas Market, by Region, (USD Million, 2012 – 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-enteral-feeding-formulas-market
No comments:
Post a Comment