According to Future Market Insights (FMI), the global tube feeding formula market size is projected to be valued at US$ 5,245.8 million in 2023 and is expected to reach US$ 10,211.7 million by 2033, growing at a CAGR of 6.9% from 2023 to 2033.
Emerging economies in the Asia Pacific, such as India, China, Thailand, and Malaysia, present significant opportunities for growth in the tube feeding formula market. Medical nutrition companies can generate substantial revenues in these countries due to their large patient populations and high incidence of chronic diseases.
The International Network for Cancer Treatment and Research has highlighted the growing burden of cancer in developing regions like India and China, showcasing the extensive applicability and demand for tube feeding formulas in these areas.
“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.
Request Sample Report and Drive Impactful Decisions: https://www.futuremarketinsights.com/reports/sample/rep-gb-17141
Increased demand for tube feeding formulas is expected over the forecast period. This is primarily due to rising prevalence of cancer, neurological disorders, and gastrointestinal diseases related to food contamination and other issues. These formulas are essential for providing sufficient nutrition and hydration to patients suffering from these conditions.
According to the World Health Organization (WHO), cancer was responsible for around 10 million deaths worldwide in 2020. About 30% of cancer cases in low and lower-middle-income countries were caused by infections such as hepatitis and human papillomavirus (HPV). This further drives demands for nutritional drugs in the market.
In recent times, it has been difficult to get approval for human health related products. More provisions have been added by regulatory bodies to approve certain products.
It also takes a longer time for regulatory bodies to approve such products with the introduction of lengthy testing processes. It has led to only a few leading players operating in the market for medical nutrition.
Due to slow rate of approvals, new entrants have a higher risk in the market. With growing investments, key manufacturers are developing novel nutritional drugs. Research & development initiatives from market leaders are fostering unprecedented growth in this sector.
Leading companies are working to produce advanced or standard nutritional products. These aim to fulfil patients’ nutritional requirements under various clinical conditions in a healthy and adequate way.
Purchase this Premium Research Report | Immediate Delivery Available! https://www.futuremarketinsights.com/checkout/17141
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.
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.
Access the Complete Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17141
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.
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
