The enteral nutrition market constitutes products such as prescription enteral nutrition, diabetics, protein supplements, fiber supplements, and disease specific formulas. These products help in providing nutritional requirements to people suffering from chronic illnesses, health conditions or surgery recovery. The need for enteral nutrition products arises due to malabsorption, swallowing disorders, neurological injury or disease wherein individuals are not able to meet their nutritional requirements through diet alone. The global Enteral Nutrition Market is estimated to be valued at US$ 3.01 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 key trends:
Rising preference for home-based enteral nutrition is a key trend supplementing the market growth. Home enteral nutrition offers advantages like comfort, convenience and cost-effectiveness compared to hospital-based consumption. These home-based products are also more customized with several formula choices. Due to the rising chronic illnesses, growing geriatric population and increasing inclination towards home healthcare, demand for home enteral nutrition products is growing substantially. The key players are developing easy to administer and user-friendly formulas in powder, liquid and ready-to-hang containers targeted at home-based usage. This shift towards home healthcare is expected to open new growth avenues for the enteral nutrition market during the forecast period.
SWOT Analysis
Strength: Enteral Nutrition helps meet nutritional requirements of patients who cannot swallow food orally or cannot digest foods properly. It is a cost effective way to provide suitable nutrition compared to parenteral nutrition.
Weakness: It requires feeding tubes for administration which causes discomfort to patients. Risk of complications like diarrhea, constipation, nausea and vomiting are high. Improper handling may also lead to infections.
Opportunity: Rising cases of chronic diseases, cancer and malnutrition will drive the demand. Growing geriatric population prone to chronic diseases also presents opportunities.
Threats: Alternative techniques like parenteral nutrition may gain popularity. Rising healthcare costs can limit widespread adoption in low income regions.
Key Takeaways
The global enteral nutrition market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: North America holds the highest share currently due to advanced healthcare infrastructure and higher adoption rates. Asia Pacific region is expected to grow at the fastest pace owing to rising healthcare expenditure, growing medical tourism industry and large patient pool.
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. Abbott holds the major share currently and is focusing on new product launches to consolidate its position further.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it