PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555740
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555740
Enteral Nutrition Market size was valued at USD 7,980.23 Million in 2023, expanding at a CAGR of 7.50% from 2024 to 2032.
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Enteral Nutrition Market- Market Dynamics
Increasing prevalence of premature births, chronic disorders and development in nutritional science is expected to propel market demand
Chronic diseases such as cancer, diabetes, neurological disorders like stroke, Parkinson's disease, and gastrointestinal disorders often necessitate enteral nutrition. As these conditions become more prevalent, the demand for enteral nutrition products rises. The need for enteral nutrition in neonatal and pediatric care is significant due to premature births and congenital conditions. Advances in neonatal care and the growing survival rates of premature infants drive demand for enteral nutrition solutions across the world.
Research and development in nutritional science led to the creation of more effective and tailored enteral nutrition products. Improved formulas that better meet specific nutritional needs or target health conditions can drive market growth. Increased awareness among healthcare professionals and patients about the benefits of enteral nutrition contributes to higher adoption rates. Educational initiatives and improved guidelines also support this trend. Innovations in feeding tube technologies, including less invasive and more comfortable options, and advancements in nutritional delivery systems enhance the effectiveness and ease of enteral nutrition, driving market growth.
Enteral Nutrition Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.50% over the forecast period (2024-2032)
Based on Product Type segmentation, the general disease-specific segment was predicted to show maximum market share in the year 2023, owing to the benefits of consuming enteral nutrition for better health.
Based on Application segmentation, the gastrointestinal disorders segment was the leading Application in 2023, as GI delivers the required calories needs.
Based on Distribution Channel segmentation, the hospital pharmacies segment was the leading Distribution Channel segment in 2023, owing to effective treatment and availability of high-quality nutritional products.
On the basis of region, North America was the leading revenue generator in 2023, due to the developed healthcare industry and people's traction for nutritional products.
The Global Enteral Nutrition Market is segmented on the basis of Product Type, Application, Distribution Channel, and Region.
The market is divided into two categories based on Product Type: general diseases and specific diseases. The specific disease segment dominates the market. For specific diseases nutritional supplements or feed are advised and required to be consumed.
The market is divided into eight categories based on Application: gastrointestinal disorders, metabolic/inborn errors of metabolism, food allergy, renal disease, liver disease, oncology, neurology, and others. The gastrointestinal disorders segment dominates the market. GI disorders are more common and need enteral nutrition for good health.
The market is divided into three categories based on Distribution channels: hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment dominates the market and is expected to maintain its high dominance during the forecast period. Higher healthcare spending and growth in hospital facilities is expected to boost segment growth.
Enteral Nutrition Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is one of the largest markets for enteral nutrition, driven by a high prevalence of chronic diseases, a well-established healthcare infrastructure, and significant investments in healthcare innovation. The U.S. market benefits from advanced medical technologies and a large geriatric population. Reimbursement policies and increased awareness also support market growth. In Europe, countries like Germany, France, and the UK have robust healthcare systems and high rates of enteral nutrition adoption.
The enteral nutrition market is characterized by intense competition among key players who are continually innovating and expanding their product offerings. Companies are focusing on technological advancements, personalized nutrition, and expanding into emerging markets to capture growth opportunities. Companies focuses on personalized nutrition and expanding its presence in emerging markets. They are also investing in partnerships and collaborations to enhance their product offerings and market reach.
In January 2023, Nutricia introduced Fortimel PlantBased Energy, the first plant-based, ready-to-drink oral nutritional supplement.
In 2022, Abbott Laboratories has introduced new formulations and packaging innovations to improve patient compliance and convenience. They are also investing in digital health solutions to enhance nutritional care.