The global enteral feeding formulas market is expected to reach USD 5.95 billion by 2020, growing at a CAGR of 7.6% during the forecast period of 2015 to 2020. Factors such as the rising prevalence of chronic diseases and disorders, the rapidly growing geriatric population, increasing healthcare expenditure, rising incidences of preterm birth, and increasing demand for homecare are fueling the growth of the enteral feeding formulas market. The increasing demand for personalized medicine and increasing healthcare expenditure in emerging economies are also expected to provide growth opportunities for market players in the coming years.
In the product segment, standard formulas accounted for a major market share in enteral feeding formulas market. The large share of this segment can be attributed to the higher extent of usage of these formulas as compared to disease-specific formulas. Polymeric formulas accounted for the largest share of the standard formulas market in 2015. The polymeric formulas segment is also expected to grow at a higher CAGR as compared to the monomeric formulas, primarily due to their high use in patients suffering from chronic diseases and disorders.
Hospitals were the largest end users of enteral feeding formulas, followed by long-term care facilities. Growth in these end-user markets can majorly be attributed to the rapidly growing geriatric population and increasing prevalence of chronic disease and disorders. On the basis of stage, the adults segment accounted for the largest share of the enteral feeding formulas market. This segment is also expected to witness a higher growth in the coming five years primarily due to the increasing incidences of chronic disease and disorders in adults and the rapidly growing geriatric population worldwide.
In 2015, North America was the largest regional segment in the global enteral feeding formulas market and this trend is expected to continue between 2015 and 2020. The large share of the North American region is mainly due to the presence of a large number of major manufacturers, rising geriatric population, high prevalence of chronic diseases and disorders, and increasing healthcare expenditure in this region.
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