Indiana Homecare Enteral Feeding Formula Market, By Product Type (Standard Formula, Disease-specific Formula, Blenderized Formula, and Others), By Patient Type (Adults, Pediatrics, and Geriatrics) Forecast to 2032
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The Indiana homecare enteral feeding formula market is witnessing significant growth, with a revenue of USD 82.58 million in 2022 and an expected revenue CAGR of 8% during the forecast period. This growth can be attributed to several factors, including the increasing prevalence of chronic diseases such as cancer, diabetes, and neurological disorders, and the rising demand for enteral feed formulations.
One of the primary drivers of market growth is the growing geriatric population, which is more susceptible to chronic ailments and requires enteral feeding formulae to meet their nutritional needs. Enteral tube feeding is a process in which nutrients are introduced into the gut or stomach via tubes for individuals who are unable to consume or absorb oral nutrients. Various types of tubes, including nasojejunal tube, gastrostomy, nasogastric tube, and jejunostomy, are available for enteral feed formula.
Moreover, the market is experiencing growth due to the creation of organic and plant-based formulas, the introduction of modular formulae, and the use of prebiotics and probiotics to improve gut health. Additionally, the increasing demand for specialized formulas that meet specific nutritional requirements is driving the growth of lactose-free, gluten-free, and low-sugar enteral feeding formulas.
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Market Segments: –
Based on product type, the market is segmented into standard formula, disease-specific formula, blenderized formula, and others. The standard formula segment is expected to hold a significant share of the market owing to its wide range of applications in treating various health conditions.
Based on patient type, the market is segmented into adults, pediatrics, and geriatrics. The pediatric segment is expected to witness substantial growth due to the increasing prevalence of chronic diseases and malnutrition among children.
Based on end-user, the market is segmented into hospitals, homecare settings, and others. The homecare settings segment is expected to hold a significant share of the market due to the increasing adoption of enteral feeding formulas for home-based healthcare services.
The report covers the market analysis of the Indiana homecare enteral feeding formula market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to hold the largest share of the market owing to the rising prevalence of chronic diseases, increasing geriatric population, and the presence of major market players in the region.
Strategic developments in the market:
One such development is the acquisition of IM HealthScience by Nestle Health Science, a medical food and nutritional supplement firm based in the U.S. This acquisition is expected to enhance Nestle Health Science’s position in the market for medical foods and diversify its line of nutritional goods.
Another notable strategic development in the market is the acquisition of Real Food Blends by Danone Nutricia, a provider of blended meals for individuals using feeding tubes based in the U.S. Through this acquisition, Danone Nutricia aims to increase its selection of products for individuals with rare diseases and other medical issues.
These strategic developments are crucial for players in the Indiana homecare enteral feeding formula market as they enable them to expand their product offerings and strengthen their market position.
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Competitive Landscape:
The Indiana homecare enteral feeding formula market is highly competitive and is dominated by a few major players. These players include Abbott Nutrition, Nestle Health Science, Danone Nutricia, Braun Melsungen AG, Fresenius Kabi AG, and Meiji Holdings Co. Ltd.
Abbott Nutrition is one of the leading players in the market and offers a wide range of enteral feeding formulas under its brand name, including Ensure and Glucerna. Nestle Health Science is another major player, offering popular enteral feeding formulas such as Peptamen and Compleat.
Danone Nutricia is a well-known healthcare company and offers a variety of enteral feeding formulas under its brand name, including Nutrison and Nutricia. Braun Melsungen AG is a German healthcare company that offers a wide range of enteral feeding formulas under its brand name.
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