Market Trends of Global Enteral Feeding Formulas Industry
This section covers the major market trends shaping the Enteral Feeding Formulas Market according to our research experts:
Oncology Segment is Expected to Hold a Significant Market Share in the Enteral Feeding Formulas Market
Most cancer patients suffer from cancer cachexia, which causes insulin resistance, increased lipolysis with loss of body fat, increased protein turnover, and loss of muscle mass, causing loss of appetite and weight. This requires enteral feeding formulas in cancer patients, driving this segment's growth.
The rising support and awareness from the key market players on the nutrition of cancer patients are expected to drive this segment's growth due to the rise in the adoption of enteral feeding formulas in cancer patients. For instance, in December 2021, Nestlé Health Science created a website in collaboration with healthcare professionals to offer information and support at every phase of the disease. The company emphasized the value of nutrition as part of a new initiative to inform and support cancer patients and their caregivers.
According to the study published in Nature in July 2022, it was found that the impact of preoperative oral nutrition supplementation (ONS) on patients undergoing gastrointestinal cancer surgery has reduced all-cause postoperative surgical complications and mortalities. Therefore, the high importance of nutritional supplementation in cancer patients is anticipated to increase the demand for enteral feeding formulas, driving this segment growth.
Furthermore, to improve the clinical condition of cancer patients, providing nutrition is the cornerstone, as it becomes tough for cancer patients to take food orally. As the treatment proceeds, nutrition is supplied by enteral feeding tubes to enable them to maintain body mass.
Therefore, owing to the above-mentioned factors, this segment is expected to show significant growth over the forecast period.
The below graph represents the funding for cancer treatments by the National Institute of Health in the United States. The rising funding for cancer treatments in developed regions such as the United States will help in the development of enteral feeding formulas, driving segment growth.
North America is Expected to hold a Major Share in the Market Studied Over the Forecast Period
North America is expected to dominate the enteral feeding formulas market because of the factors such as the rapidly aging population, the surging prevalence of preterm birth, and the rise in the number of chronic disease patients. According to the Rural Health Information Hub 2022, in the United States, there are more than 46 million older adults who are 65 or older in 2022, and by 2050, that figure is projected to reach nearly 90 million. The rising incidence of the geriatric population is expected to drive this segment's growth due to the rise in the adoption of enteral feeding formulas in this age group.
The rise in the geriatric population will increase the cases of chronic diseases, such as cancer and diabetes, which will further lead to an increase in the patient's hospital stays. According to the American Cancer Society, in 2022, the estimated number of new cancer cases diagnosed is 1.9 million. Such a high incidence of cancer cases in the United States is expected to propel the market growth in this region due to the rise in the adoption of enteral feeding formulas in these patients.
Furthermore, the rise in the launch of innovative enteral feeding formulas by the key market players in this region is expected to drive market growth over the forecast period. For instance, in August 2021, Kate Farms launched the closed feeding system delivering plant-based formulas in a ready-to-hang 1-liter bag. This closed-system packaging makes clinically proven, plant-based nutrition available to patients requiring tube feeding in acute care settings. Such initiatives are expected to bolster the market growth in this region.
Therefore, the rise in the prevalence of chronic diseases, the strong foothold of key market players, and the rise in the launch of products, among others, are expected to drive market growth in this region.
