The Enteral Nutrition Market is Estimated to Witness High Growth Owing to Rise of Nutrition-driven Healthcare

The Enteral Nutrition Market is estimated to be valued at US$ 3.1 Bn in 2023 and is expected to exhibit a CAGR of 5.8 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Enteral nutrition is a method of feeding that delivers nutritional products directly into the stomach, duodenum or jejunum through a tube or stoma. It provides nutrition either as the sole source or as an adjunct to oral intake. Enteral nutrition is beneficial for patients who are unable or unwilling to eat nutritious food. It helps avoid undernutrition which can lead to poor health outcomes.

Market key trends:
The rising prevalence of chronic diseases like cancer and gastrointestinal disorders is a major factor driving growth of the enteral nutrition market. According to the World Health Organization, cancer is the second leading cause of death globally and is responsible for an estimated 9.6 million deaths in 2018. Enteral nutrition helps manage nutritional deficiencies caused by cancer or its treatment. Moreover, the growing elderly population worldwide is also boosting demand. Elderly people are more prone to chronic diseases and malnutrition. Hence, enteral nutrition ensures proper nutritional support for the aging population. Additionally, increasing preference for home enteral nutrition over conventional hospitalization is positively impacting the market growth.

Porter’s Analysis

Threat of new entrants: The presence of some large players with strong brand names in the market poses challenges for new entrants. However, moderate capital requirements and easy access to distribution channels provide opportunities for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute products from other manufacturers. However, brand loyalty and medical benefits provided by established brands increase switching costs for buyers.

Bargaining power of suppliers: A few major suppliers globally dominate the raw material supply chain. However, the availability of substitute raw materials and growing private label production balances the supplier power.

Threat of new substitutes: Substitute products like parenteral and oral nutrition offer alternatives. However, strong product differentiating factors like non-invasiveness, accurate delivery and customizability provide some protection against substitutes.

Competitive rivalry: The presence of global and regional players leads to high competition.

SWOT Analysis

Strengths: Established brands, product innovation, customized offerings as per clinical conditions, dominance in regions.

Weaknesses: High R&D and marketing costs, dependency on limited raw material suppliers, pricing pressures from private labels.

Opportunities: Growth in tube feeding and clinical nutrition, rising healthcare expenditure in emerging nations, demand for disease-specific formulas.

Threats: Stringent regulations, reimbursement scenario, threat from substitute products.

Key Takeaways

The global enteral nutrition market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing incidence of chronic diseases. Rise in preterm births, growing geriatric population susceptible to chronic diseases and greater awareness about clinical nutrition are major market drivers.

Regionally, North America dominates the global enteral nutrition market currently. Asia Pacific is expected to emerge as the fastest growing market owing to rising healthcare expenditure, large patient pool and increasing adoption of clinical nutrition practices.

Key players operating in the 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., Curtis Health Caps SP. The market is fairly consolidated with the top players holding majority market share. Future growth lies in expanding to emerging markets through collaborations and development of disease-specific formulations.