The global Enteral Nutrition Market, By Product Type (Standard Enteral Nutrition and Enteral Nutrition for Chronic Illness), By Nutrition Type (Proteins, Carbohydrates, Multi-vitamins and Antioxidants, Amino Acid, Fibers, Minerals, and Others), By Formulation (Powder and Liquid), By Patient Type (Adult, Pediatrics, and Geriatrics), By Application (Cancer, Gastrointestinal Diseases, Diabetes, Critical Care, and Others (Nutrition Deficiency, etc.)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), By End User (Hospitals, Home Care Settings, Retirement Homes, Others (Nursing Care Centers, Rehabilitation Care Centers, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3.1 Billion in 2023 and is expected to exhibit a CAGR of 5.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting organic growth strategies such as the launch of new products, which will drive the global enteral nutrition market growth. For instance, in February 2022, Kate Farms, a plant-based medical nutritional product manufacturing company, announced that it had launched a new shake, Glucose Support. This first-of-its-kind plant-based, organic nutrition shake is designed to help manage blood sugar as part of a balanced diet for people suffering from diabetes in U.S.
Global Enteral Nutrition Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
However, COVID-19 had a positive impact on the global enteral nutrition market as the use of enteral nutrition increased in patient suffering from COVID-19. For instance, according to an article published in European Journal of Clinical Nutrition, an open-access medical journal covering nutrition science, in September 2020, around 15% of the COVID-19 patients will eventually require hospital stay, and 10% of them will need urgent respiratory and hemodynamic support in the intensive care unit (ICU). COVID-19 is an infectious disease characterized by inflammatory syndrome, itself leading to reduced food intake and increased muscle catabolism. Therefore, COVID-19 patients are at high risk of being malnourished, making the prevention of malnutrition and nutritional management key aspects of care.
Global Enteral Nutrition Market: Key Developments
In September 2020, Kate Farms announced the launch of new Kate Farms Nutrition Shake, an organic, plant-based meal replacement shake available in three flavors, including chocolate, vanilla and coffee for management of chronic illness.
In September 2022, Kate Farms announced that it had raised US$ 75 million in a Series C funding round led by life-science investor Novo Holdings, a part of the Novo Nordisk Foundation which is an international enterprise foundation focusing on medical treatment and research. With this, Kate Farms will be able to increase its efforts in developing plant-based clinical nutrition research, product innovation, and development into more channels.
Browse 70 Market Data Tables and 55 Figures spread through 200 Pages and in-depth TOC on “Global Enteral Nutrition Market”- Forecast to 2030, Global Enteral Nutrition Market, By Product Type (Standard Enteral Nutrition and Enteral Nutrition for Chronic Illness), By Nutrition Type (Proteins, Carbohydrates, Multi-vitamins and Antioxidants, Amino Acid, Fibers, Minerals and Others), By Formulation (Powder and Liquid), By Patient Type (Adult, Pediatrics and Geriatrics), By Application (Cancer, Gastrointestinal Diseases, Diabetes, Critical Care and Others (Nutrition Deficiency, etc.)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), By End User (Hospitals, Home Care Settings, Retirement Homes, Others (Nursing Care Centers, Rehabilitation Care Centers, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/enteral-nutrition-market-1115
Key Takeaways of the Global Enteral Nutrition Market:
- The global enteral nutrition market is expected to exhibit a CAGR of 5.8% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global enteral nutrition market.
- Among product type, the enteral nutrition for chronic illness segment is expected to hold a dominant position in the global enteral nutrition market during the forecast period, and this is attributed to the increase in the prevalence of chronic diseases such as neurological diseases globally. For instance, according to an article published in Frontiers in November 2022, neurological disorders are a major and increasing global health challenge, which would bring enormous impairment to cognitive-motor function and in 2020 more than 10 million deaths and 349 million disability-adjusted life years (DALYs) due to neurological disorders globally.
- Among application, the cancer segment is expected to hold a dominant position in the global enteral nutrition market during the forecast period, and this is attributed to the increase in the prevalence of cancer globally. For instance, according to an article published in European Commission, a European government organization, in January 2022, there were around 2,130,183 new cases on cancer among men in Europe, out of which 22.2% were prostate cancer.
- Major players operating in the global 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., and Curtis Health Caps SP
