What Are The 5 Takeaways From The Enteral Nutrition Market Overview 2023
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The global enteral nutrition market is on an upward trajectory, poised to grow from $10.72 billion in 2022 to $11.55 billion in 2023, with a noteworthy Compound Annual Growth Rate (CAGR) of 7.7%. Looking ahead, the market is expected to reach $15.42 billion in 2027, maintaining a robust CAGR of 7.4%.
The Ailment Challenge: Rise in Chronic Diseases
A significant driving force behind the escalating demand for enteral nutrition is the surge in chronic diseases. These long-term health conditions, including cardiovascular diseases, diabetes, and cancer, are on the rise globally. Enteral nutrition plays a crucial role as a supportive measure for individuals facing challenges in maintaining adequate nutrition due to these chronic diseases and their treatments.
- Liver Cancer Cases: The American Cancer Society reports an increase in estimated new cases of liver cancer in females in the United States, rising from 12,660 in 2022 to 13,230 in 2023.
- Diabetes Statistics: According to the International Diabetes Federation, 537 million adults (20-79 years) were recorded living with diabetes in 2021. The number is expected to increase to 643 million worldwide by 2030.
Industry Giants: Pioneering Progress
Leading the charge in the enteral nutrition market are key players such as Cardinal Health Inc., Nestle S.A., and Fresenius Kabi AG. These industry giants are pivotal in shaping the landscape of enteral nutrition.
- Diverse Offerings: Major players like Abbott Laboratories, Danone S.A., and B. Braun Melsungen AG contribute significantly with a diverse range of enteral nutrition products catering to various patient needs.
- Global Footprint: Companies like Medtronic Inc. and Mead Johnson Nutrition have a global presence, ensuring the availability of enteral nutrition solutions across different regions.
Trending Innovation: A Recipe for Success
In the enteral nutrition market, innovation is emerging as a key trend, with companies investing in the development of new technological and innovative solutions. A notable example is the introduction of ENORAS® Liquid for Enteral Use by Otsuka Pharmaceutical Factory Inc.
- ENORAS® Liquid for Enteral Use: Launched in June 2020, this product comes in coffee and strawberry flavors, adding variety to the enteral nutrition offerings. With a concentrated formula, it efficiently supplies nutrients and energy, meeting a significant portion of daily intake requirements.
- Nutritional Advancements: The product, based on recent nutritional research, incorporates essential elements like carnitine and choline, making it a comprehensive solution for enteral nutrition needs.
Segmentation Insights: Tailoring Solutions
Understanding the varied needs of consumers, the enteral nutrition market is segmented based on product type, nutrition type, patient type, application, and distribution channel.
- Product Type: The market includes Standard Enteral Nutrition and Enteral Nutrition for Chronic Illness, catering to different patient requirements.
- Nutrition Type: Segmentation based on nutrition types includes Proteins, Carbohydrates, Multi Vitamins, Antioxidants, Amino Acids, Fibers, Minerals, and Other Nutritional Types.
- Patient Type: The enteral nutrition market serves both Adults and Pediatric patients, ensuring a comprehensive approach to healthcare.
- Application: Diverse applications include Cancer, Critical Care, Diabetes, Gastrointestinal Diseases, and Other Applications, tailoring enteral nutrition solutions to specific medical needs.
- Distribution Channel: Accessibility is key, and the market caters to this through Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.
Regional Dynamics: North America Takes the Lead
As of 2022, North America stands as the largest region in the enteral nutrition market, with its robust healthcare infrastructure and increasing awareness. Looking forward, the market anticipates significant growth in Asia-Pacific.
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The Enteral Nutrition Global Market Report 2023 provides a comprehensive outlook of the enteral nutrition market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The enteral nutrition market forecast offers a thorough analysis on enteral nutrition market size, enteral nutrition market share, prominent players and their strategies.
The Table Of Content For The Enteral Nutrition Market Include:
1. Enteral Nutrition Market Executive Summary
2. Enteral Nutrition Market Segments
3. Enteral Nutrition Market Size And Enteral Nutrition Market Growth Rate
4. Key Enteral Nutrition Market Trends
5. Major Enteral Nutrition Market Drivers
25. Key Mergers And Acquisitions In The Enteral Nutrition Market
26. Top Enteral Nutrition Companies
27. Enteral Nutrition Market Opportunities And Strategies
28. Enteral Nutrition Market, Conclusions And Recommendations
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