Market Overview:
Enteral nutrition is the process of providing nutritional requirements to individuals who are unable to meet their daily nutritional requirements through the daily diet due to digestive issues or surgery. Enteral nutrition products are clinically proven to provide complete and balanced nutrition for individuals suffering from conditions affecting oral intake like cancer, neurological disorders, gastrointestinal disorders, and other diseases affecting normal oral intake. Enteral feeding tubes are placed directly into the stomach, duodenum or jejunum which allows critical nutrients to bypass unhealthy areas of the digestive tract. The growing prevalence of chronic diseases as well as growing aging population globally are major factors driving the growth of enteral nutrition market.
Market key trends:
One of the key trends in the enteral nutrition market is the growing demand for home enteral nutrition. With growing preference for home healthcare as it reduces healthcare costs and provides convenience, home enteral nutrition is gaining increased acceptance. Home enteral nutrition offers advantages like reduction in hospital stays and risk of hospital acquired infections. It also improves patient comfort and quality of life by allowing normal daily activities. Major players in the market are focusing on developing portable enteral feeding pumps and convenient packaging of products to support home enteral nutrition. Comprehensive training and support programs for caregivers are also provided to ensure safe and effective home enteral feeding. This trend is expected to significantly drive the enteral nutrition market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is relatively moderate due to the need for established distribution channels and brand recognition. However, new players can enter the market by offering innovative formulas.
Bargaining power of buyers: The bargaining power of buyers is moderate since the nutritional requirements are non-discretionary. However, buyers have many brands to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials. However, a few key suppliers dominate the markets for some specialty ingredients.
Threat of new substitutes: The threat of new substitutes is moderate as new enteral formulas are regularly introduced. However, switching costs are relatively high for customers dependent on nutritional support.
Competitive rivalry: Competition in the market is intense with the presence of global as well as regional players.
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 incidence of chronic diseases. The market size for 2023 is US$ 3.1 Bn.
Regional analysis: North America dominates the enteral nutrition market owing to growing geriatric population. However, Asia Pacific is expected to be the fastest growing market due to improving healthcare infrastructure and rising malnutrition.
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.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
