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The global Enteral Nutrition Market is estimated to be valued at US$ 3.1 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Enteral nutrition products are specially formulated liquid nutritional supplements and tube feeding formulas that provide nutrition through the gastrointestinal tract. Enteral nutrition helps meet the nutritional requirements of patients or individuals who cannot meet their nutritional needs through normal diet.
Market key trends:
One of the key trends in the enteral nutrition market is the increasing preference for home enteral nutrition over hospital-based enteral nutrition. Home enteral nutrition provides several advantages such as improved quality of life, reduced risks of hospital acquired infections, and lower healthcare costs. With technological advancements in enteral feeding pumps and easy-to-use enteral feeding sets, home enteral nutrition has become a safe, effective, and convenient option for long-term nutrition support.
SWOT Analysis
Strength: Enteral nutrition products has wide applications in clinical conditions such as neurology, oncology and diabetes. They help in maintaining proper nutrition for patients who cannot consume food orally.
Weakness: Enteral feeding tubes poses risk of complications such as tube misplacement, infection, leakages and clogging. This limits the growth of enteral nutrition market.
Opportunity: Rise in prevalence of chronic diseases and growing geriatric population prone to malnutrition and degenerative diseases expands the growth opportunity.
Threats: High cost of enteral nutrition products poses affordability issues. Alternative approaches like parenteral nutrition also threatens the market.
Key Takeaways
The global enteral nutrition market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is US$ 3.1 Bn.
North America dominates the enteral nutrition market owing to rising healthcare expenditure and sophisticated healthcare infrastructure in the region. Europe represents the second largest market due to growing elderly population requiring nutrition support.
Asia Pacific is poised to be the fastest growing market for enteral nutrition attributed to enlarging patient pool, raising healthcare awareness and increasing focus of key players on emerging Asia Pacific countries.
Key players operating in the enteral nutrition market are Abbott, Nestlé S.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company, LLC, Braun Melsungen AG, Otsuka Pharmaceutical Co., Ltd, Meiji Holdings Co., Ltd., Bahrain Pharma, Bionova Lifesciences, Global Health Products Inc., Victus Inc., Curtis Health Caps SP.
