PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398772
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398772
The global Enteral Feeding Formula Market is experiencing robust growth, as revealed in a recent analysis report by Fairfield Market Research. In 2024, the market's global sales reached US$ 6.99 billion. The market is projected to attain a valuation of US$ 13.1 billion by 2031, with the Standard Formula segment expected to be the highest revenue-generating segment during 2024 to 2031.
The enteral feeding formula market is being propelled by several key factors. An aging population and the increasing demand for home care services are primary drivers of market growth. Additionally, the development of cost-effective and efficacious diabetes medications, coupled with heightened awareness of diabetes self-management and government support, contribute significantly to the expansion of the market. Factors such as a rise in preterm deliveries and an increase in malnutrition among hospitalized children are further boosting the demand for enteral feeding formulas.
While the enteral nutrition market is on a growth trajectory, it faces challenges related to adverse effects and complications associated with enteral feedings. Aggressive enteral feeding may elevate the risk of aspiration or vomiting in children with gastroesophageal reflux. Other drawbacks include diarrhea, skin breakdown, and anatomical disturbances. Mechanical drawbacks such as dislodged or clogged feeding tubes also pose challenges. Moreover, in low- and medium-income countries, a lack of awareness about healthcare, diet, and proper nutrition acts as a significant impediment to the global enteral nutrition market's growth.
In 2022, North America emerged as the leader in the global Enteral Feeding Formula market, driven by factors like an aging population, increased preterm births, and a growing number of patients with chronic illnesses. The preference for home-based enteral treatment has also reduced hospital and clinic visits. The rising prevalence of malnutrition further fuels market expansion in the region.
The United States is expected to capture the highest market share by the end of 2031. The expanding elderly population and the prevalence of chronic illnesses are contributing to increased hospitalizations. Additionally, the rising number of premature births, which currently stands at around 15 million according to the WHO, is expected to further drive market growth throughout the forecast period.
The U.K. enteral feeding formula market is set for substantial growth over the forecast period from 2024 to 2031. While specific numerical values have been omitted, this market is expected to exhibit a significant increase in valuation and absolute dollar opportunity during this period.
Japan's enteral feeding formula market is also anticipated to witness notable growth through 2031, with a strong absolute dollar opportunity and a steady compound annual growth rate (CAGR).
South Korea's enteral feeding formula market is projected to experience growth between 2024 and 2031, with an expected CAGR and an absolute dollar opportunity during this timeframe.