Enteral Feeding Formulas Market categories the Global Market by Stage (Adults, Pediatrics), by Application (Oncology, Gastroenterology, Neurology), End User (Hospitals, LTCS, Home Care), by Product (Polymeric, Monomeric, Disease-Specific Formulas) & Geography
Pune, India -- (SBWIRE) -- 05/06/2016 -- According to a new market research report "Enteral Feeding Formulas Market by Product (Polymeric, Monomeric, Disease-Specific Formulas), by Stage (Adults, Pediatrics), by Application (Oncology, Gastroenterology, Neurology), by End User (Hospitals, LTCS, Home Care) - Global Forecast to 2020" the global enteral feeding formulas market is expected to reach USD 5.95 Billion by 2020. This market was valued at USD 4.13 Billion in 2015 and is expected to grow at a CAGR of 7.6% from 2015 to 2020.
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Substantial growth was observed in the global enteral feeding formulas market in the last decade, majorly due to rising incidences of chronic diseases and disorders, the rapidly growing geriatric population, increasing healthcare expenditure, growing incidences of preterm births, and increasing demand for homecare.
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The enteral feeding formulas market is segmented based on product, stage, application, end user, and region. Based on products, the market is segmented into standard and disease-specific formulas. The standard formulas segment is further segmented into polymeric formulas and monomeric formulas. Disease-specific formulas are further subdivided into diabetic, renal, hepatic, pulmonary, and other formulas, which primarily include immune-enhancing & wound-healing formulas and formulas for critical care. On the basis of stage, the enteral feeding formulas market is segmented into adults and pediatrics. On the basis of application, the market is segmented into oncology, gastroenterology, neurology, diabetes, critical care, and other applications. Other applications primarily include diseases and disorders of the heart, renal system, lungs, and liver, along with psychiatric disorders. By end user, the enteral feeding formulas market is segmented into hospitals and long-term care facilities. Long-term care facilities are further segmented into homecare agencies & hospices and nursing homes and assisted living facilities.
In 2015, the standard formulas segment accounted for the largest share of the enteral feeding formulas market. This segment is also expected to be the fastest-growing segment in this market during the forecast period of 2015 to 2020. Growth in this segment can be attributed to their extensive use in a majority of enterally fed patients, especially chronically tube-fed patients.
The enteral feeding formulas market in the Asia-Pacific region is expected to offer significant growth opportunities for market players during the forecast period. Growth in this regional segment is majorly attributed to the presence of a large patient pool for chronic diseases and disorders, growing incidences of preterm births, increasing healthcare expenditure, rapidly developing healthcare infrastructure, increasing per capita income, growing middle-class population, and growing population in emerging APAC countries.
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The prominent players in the enteral feeding formulas market include Abbott Laboratories (U.S.), Nestlé S.A. (Switzerland), Danone S.A. (France), and Fresenius Kabi AG (Germany) among others.