According to Future Market Insights (FMI), the global tube feeding formula market size is experiencing remarkable growth, projected to reach a valuation of US$ 10,211.7 million by 2033, with a CAGR of 6.9% from 2023. Tube feeding, a vital medical intervention, provides essential nutrition to individuals unable to eat orally, catering to a wide range of patients, including infants and the elderly. With the prevalence of chronic disorders and increasing healthcare expenditure, the demand for tube feeding formulas is on the rise, driving market expansion globally.
The demand for tube feeding formulas is fueled by the rising prevalence of chronic diseases such as metabolic syndrome, cancer, gastrointestinal disorders, and neurological conditions. As the global population ages and the incidence of chronic diseases continues to rise, there is a growing need for convenient and effective nutritional support, driving the demand for tube feeding formulas.
Growing burden of cancer in developing areas of the Asia Pacific region such as India and China was highlighted by the International Network for Cancer Treatment and Research. This is a key example of the scope of the applicability of tube feeding formulas.
“Through 2033, there will be a rising patient and healthcare provider awareness of numerous advantages of enteral feeding. It is anticipated that this kind of nutritional supplementation will be used more frequently. Manufacturers are likely to find significant growth opportunities by analyzing different demographics that are in need of tube feeding solutions, and the reason behind such requirements.” – Says a lead analyst.
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Several factors contribute to the growth of the global tube feeding formula market. Firstly, the increasing prevalence of chronic diseases, including diabetes, cancer, and digestive disorders, drives the demand for tube feeding formulas to provide essential nutrition to patients. Secondly, rising healthcare expenditure and government spending on healthcare infrastructure further propel market growth. Thirdly, the growing adoption of home-based care and the expansion of neonatal intensive care units create new opportunities for tube feeding formulas, driving market expansion.
Key Takeaways from the Tube Feeding Formula Market Report:
- India tube feeding formula industry is estimated to witness a CAGR of 7.8% during the assessment period.
- The global tube feeding formula industry exhibited growth at a moderate CAGR of 5.3% from 2018 to 2022.
- China tube feeding formula industry is projected to exhibit decent growth at a CAGR of 8.8% from 2023 to 2033.
- Based on product type, the elemental formulas segment is set to reach a valuation of US$ 1,396.5 million in 2023.
- By distribution channel, the prescription-based segment is expected to flourish at 6.7% CAGR from 2023 to 2033.
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Top Trends Shaping the Industry:
- Development of Effective Diabetes Therapy: The demand for tube feeding formulas is expected to accelerate with the development of affordable and effective diabetes therapy, driving market growth.
- Government Spending on Healthcare: Rising government spending on healthcare infrastructure and favorable regulatory frameworks play a crucial role in boosting the adoption and sales of tube feeding formulas.
- Healthcare Expenditure and Labor Productivity: Increasing healthcare expenditures and the adoption of effective health interventions contribute to labor supply and productivity in the tube feeding formula market.
- Expansion of Healthcare Facilities: The increasing penetration of diagnostic labs and healthcare units, particularly in emerging countries, elevates the demand for tube feeding formulas, creating new growth opportunities.
- Demand for Personalized Medicines: The rising demand for personalized medicines and the expansion of neonatal intensive care units drive market growth during the forecast period.
Key Categories Driving Market Growth:
- Global Tube Feeding Formula Market: With a CAGR of 6.9%, the tube feeding formula market is projected to reach US$ 10,211.7 million by 2033, driven by the growing incidence of malnutrition and the shift towards home-based care.
- Protein Water Market: The protein water market is expected to grow at a CAGR of 8.3%, driven by the increasing popularity of plant-based and vegan diets among consumers.
- Probiotic Supplements Market: With a CAGR of 13.0%, the probiotic supplements market is poised to reach US$ 23,977.9 million by 2033, driven by the growing awareness of the importance of maintaining a healthy gut microbiome.
Competitive Landscape
Leading tube feeding formula manufacturers are engaging in product development & innovation to meet changing needs of consumers and deliver unique product offerings. They are also focusing on geographic expansion to tap into new markets and leverage growth opportunities.
A few new entrants are diversifying their product offerings to cater to different patient populations and address various medical conditions. They are also undertaking marketing and promotional activities to raise awareness about their products and services among healthcare professionals & end users.
For instance,
- In September 2021, Abbott Nutrition introduced its first plant-based, tube feeding formula, called Ensure Plant-based Protein. It is made from pea protein, and is designed for people who require a vegan or vegetarian option.
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Tube Feeding Formula Market Outlook by Category
By Product Type:
- Standard Formulas
- Elemental Formulas
- Blenderized Formulas with Real Food Ingredients
- Specialized Formulas
- Peptide Formulas (Semi-elemental Formulas)
By Form:
- Semi Solid
- Liquids
- Powder
By Primary Condition (C):
- General Well-being
- Condition Specific
By End User:
- Adult
- Geriatric
- Pediatric
By Distribution Channel:
- Prescription-based
- Over-the-counter
By Region:
- North America
- Europe
- South Asia
- Latin America
- Oceania
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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