PORTLAND, Oregon, October 4, 2018 /PRNewswire/ --
Upsurge in geriatric population and rise in the number of patients with chronic health conditions are expected to boost the growth of the global enteral nutrition market.
According to a new report published by Allied Market Research, titled, "Enteral Nutrition Market by Protein Composition, Distribution Channel, and Form: Global Opportunity Analysis and Industry Forecast, 2018-2025". The report provides insights on the top winning strategies; drivers, restraints, challenges, and opportunities; market player positioning; strategic developments, and competitive landscape. According to the report, the global enteral nutrition market was pegged at $5.66 billion in 2017 and is expected to reach $10.48 billion by 2025, registering a CAGR of 7.9% through 2025.
Rise in the number of patients suffering from chronic diseases and upsurge in elderly population drive the growth of the global enteral nutrition market. However, stringent governmental regulations and occasional dislodgement of enteral feeding tubes hamper the growth of the market. On the other hand, favorable reimbursement policies for consumers of enteral nutrition products would offer lucrative prospects for the market growth in future.
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Protein for Diabetes Care Patient Segment to Grow the Fastest
According to the report, protein for diabetes care patient segment would manifest the fastest CAGR of 9.40% through 2025, owing to increase in the number of diabetic patients across the globe. However, the standard protein diet segment would hold the largest market share, i.e. more than half of the total market throughout the study period, as these diets are generally prescribed by doctors. In addition, the high protein supplement segment would show gradual growth during 2018-2025.
Online Distribution Channel to Manifest Fastest Growth
The online distribution channel segment is expected to register the fastest CAGR of 9.0% during the forecast period, owing to the increase in internet penetration and reduced need for hospital admission. However, the hospital sales segment dominated the global market in terms of revenue in 2017, contributing about two-thirds share. It is expected to retain its dominance during the forecast period. The retail segment would manifest steady growth during the forecast period.
Major Forms of Enteral Nutrition
The report offers in-depth analysis of the major forms of enteral nutrition such as powder and liquid. In 2017, the liquid form segment garnered about three-fourths share of the market, as this segment offers ready-to-use and instant feeding formulations, which can be stored at room temperature. In addition, the segment is expected to continue its dominance throughout the study period, registering the fastest CAGR of 8.0% through 2025. However, the powder form segment would show gradual growth during the forecast period.
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North America: Largest Revenue Contributor in the Market
North America contributed about 30% share of the market in 2017, owing to the rise in incidence of cancer, a well-developed healthcare industry, and increased use of enteral nutrition products. However, Asia-Pacific would grow at the fastest CAGR of 8.8% during the study period owing to the increasing number of patients suffering from chronic diseases in developing countries such as India and China. The other regions analyzed in the report include Europe and Latin America, Middle East and & Africa (LAMEA).
Leaders of the Industry
The key market players analyzed in the global enteral nutrition market report include Abbott Laboratories, Danone SA, Mead Johnson Nutrition Company, Global Health Products, Inc., Victus, Inc., Nestlé S.A., Fresenius Kabi AG, B. Braun Melsungen AG, Meiji Holdings Co., Ltd., and Hormel Foods Corporation.
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SOURCE Allied Market Research