SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global enteral nutrition market is estimated to be valued at US$ 2,635.9 million in 2020 and is expected to exhibit a CAGR of 5.8% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Enteral Nutrition Market:
Key trends in the market include increasing incidence of chronic and life threatening diseases such as diabetes, cancer, cardiovascular diseases, and others, increasing approval of novel products, and increasing collaborations and acquisitions among key players. These are expected to aid in growth of the market.
Moreover, availability of favorable reimbursement policies for enteral nutrition products is expected to propel the market growth over the forecast period. For instance, in October, MYOS RENS Technology Inc., a biotherapeutics and bionutrition company and the owner of Fortetropin—a proprietary bioactive composition derived from fertilized egg yolk that helps build lean muscle, announced that the MYOS Enteral Nutrition Formula, formulated with Fortetropin, has become eligible for Medicare and Medicaid reimbursement.
Furthermore, key players operating in the global enteral nutrition market are focusing on adoption of inorganic growth strategies such as acquisition and collaborations in order to increase their market presence in the global market. For instance, in June 2020, Nestlé Health Science, a subsidiary of Nestlé S.A., agreed to acquire a majority stake in Vital Proteins, the market leader in collagen in the U.S. and a leading lifestyle and wellness platform offering supplements, beverages, and food products
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Key Market Takeaways:
The global enteral nutrition market is expected to exhibit a CAGR of 5.8% over the forecast period. This is owing to increasing prevalence of malabsorption. For instance, according to an article published by the U.S. National Library of Medicine in June 2020, lactose intolerance in infancy resulting from congenital lactase deficiency is a rare disorder and its incidence is unknown. This condition is most common in Finland, where it affects an estimated 1 in 60,000 newborns.
Among regions, North America is estimated to account for the largest market share in 2020, owing to increasing approval of novel products and rising incidence of gastrointestinal diseases. For instance, as per the report published by the Centers for Disease Control and Prevention (CDC), in 2016, around 22.4 million individual in the U.S. were reported to be primarily diagnosed with digestive system diseases.
Key players operating in the global enteral nutrition market include Abbott Laboratories, Nestlé S.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company, LLC, B. 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.
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Global Enteral Nutrition Market, By Product Type:
- Standard Enteral Nutrition
- Enteral Nutrition for Chronic Illness
Global Enteral Nutrition Market, By Nutrition Type:
- Multi-vitamins and Antioxidants
- Amino Acid
Global Enteral Nutrition Market, By Formulation:
Global Enteral Nutrition Market, By Patient Type:
- Infant (1 month to 2 years)
- Children (2 to 12 years)
- Adolescent & Adult (12 to 65 years)
- Geriatric (>65 years)
- Chronic Patient (Excluding all above in all age groups)
Global Enteral Nutrition Market, By Application:
- Gastrointestinal Diseases
- Critical Care
Global Enteral Nutrition Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
Global Enteral Nutrition Market, By End User:
- Home Care Settings
- Retirement Homes
- Others (Nursing Care Centers, Rehabilitation Care Centers, etc.)
Global Enteral Nutrition Market, By Region:
- Rest of Latin America
- South Korea
- Rest of Asia Pacific
Europe, Middle East, and Africa
- Saudi Arabia
- South Africa
- Rest of Europe, Middle East and Africa
- North America
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