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″, published by MarketsandMarkets, the global 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.
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.
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.
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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.
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Enteral Feeding Devices Market by Product (Feeding Pump, Feeding Tube, Giving Set, Enteral Syringe), by Stage (Adult, Paediatrics), by Application (Oncology, Gastroenterology, Neurology), by End User (Hospital, Ambulatory Care) – Global Forecast to 2019.