The enteral nutrition market involves products that provide nutrition to patients who cannot swallow or digest food through the gastrointestinal tract. The demand for tube feeding formulas, administration sets, and enteral feeding pumps is growing owing to the increasing prevalence of chronic diseases such as cancer and gastrointestinal disorders.
The global enteral nutrition market is estimated to be valued at US$ 8.7 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Enteral Nutrition Companies are Abbott Nutrition, B.Braun Melsungen AG, Danone Nutricia, Cardinal Health, Nestlé Health Science. These players are focusing on new product launches and expansion strategies to strengthen their market position.
The Enteral Nutrition Market Demand include growing demand from homecare facilities and increasing awareness about clinical benefits of enteral feeding. The market is also driven by expanding healthcare infrastructure and improving reimbursement policies in developing regions.
Globally, the market is expanding due to rising geriatric population suffering from chronic diseases. The Asia Pacific region presents lucrative prospects for enteral nutrition companies owing to improving healthcare standards and growing medical tourism in countries like India and China.
Market Drivers
Rising prevalence of Enteral Nutrition Companies disorders requiring enteral feeding is a major growth driver for this market. According to WHO, chronic diseases accounted for 71% of global deaths in 2019. Enteral nutrition is often recommended for disease management as it reduces complications and improves outcomes. The growing geriatric population globally, which is more vulnerable to chronic illnesses, will further propel the demand for enteral feeding solutions in the coming years.
PEST Analysis
Political: Regulations for nutrition product quality and safety standards. Government policies for nutritional support to elderly and pediatric patients.
Economic: Per capita healthcare spending. Income levels affecting ability to spend on nutritional products. Impact of economic cycles on healthcare budgets and spending.
Social: Awareness about benefits of clinical nutrition. Aging population driving demand for support through illness or recovery. Cultural habits linked to dietary preferences.
Technological: Automation in production. Advances improving product formulation, consistency and shelf life. Digital solutions supporting remote monitoring of nutrition intake. Wearable devices integrated with nutrition management programs.
Geographical Regions of Concentration
The enteral nutrition market value is highly concentrated in North America and Europe. Both regions have sophisticated healthcare systems with large aging populations and high per capita healthcare spending levels. Advanced clinical practices promoting nutritional support and a strong presence of leading product manufacturers make North America and Europe major revenue generators.
Fastest Growing Region
The Asia Pacific region is poised to be the fastest growing market for enteral nutrition during the forecast period. This is attributed to factors like rapidly developing healthcare infrastructure, growing medical tourism, rising lifestyle diseases, increasing per capita incomes and state programs promoting nutritional care. Greater awareness combined with economic growth is expected to drive higher adoption of enteral nutrition therapy in Asia Pacific over the coming years.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)