Indiana Homecare Enteral Feeding Formula Industry Overview
The Indiana homecare enteral feeding formula market size was valued at USD 70.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028.
The demand for enteral feed formulations, such as the growing geriatric population and the rising prevalence of chronic disorders, including diabetes, neurological disorders, cardiovascular diseases, hypertension, and stroke, are some of the key factors anticipated to boost market growth. Rapid globalization coupled with the pursual of unhealthy lifestyles is leading to an increasing prevalence of malnourishment. The rising demand for preterm and neonatal clinical nutrition is driving the market for homecare enteral feeding formula. Moreover, the unmet demand for disease-specific formulations to manage specific or rare diseases is boosting the active market players to constantly focus on their product innovation and development.
Gather more insights about the market drivers, restrains and growth of the Indiana Homecare Enteral Feeding Formula Market
The surge in the prevalence of chronic conditions with the rapid growth in the geriatric population is the key impact-rendering driver for the market over the forecast period. There has been a constant increase in the prevalence of chronic diseases, such as Alzheimer's disease, Attention Deficit Hyperactivity Disorder (ADHD), osteoporosis, osteoarthritis, central nervous system disorders, and other diseases, which require clinical dietary management. As per the American Cancer Society’s Cancer Statistics Center, Indiana is expected to have 39,010 new cases in 2021 and 13,460 cancer-related deaths in 2021. As per American Diabetes Association, in 2018, Indiana accounted for approximately 695,832 cases of diabetes and 35.6% of the population was pre-diabetic with high blood glucose levels. In Indiana, every year there are an estimated 33,000 people diagnosed with diabetes. As per the U.S. CDC, many of these conditions are preventable through simple lifestyle changes, such as cessation of smoking, physical activity, and a healthy diet. An increase in the number of people suffering from chronic conditions is one of the key factors anticipated to boost the market for homecare enteral feeding formula over the forecast period.
The increasing incidence of targeted diseases is boosting market players to innovate disease-specific formulas for clinical nutrition management. These specific formulations are widely used in the treatment of cancer and cystic fibrosis. For instance, Nestle specializes in personalized clinical nutritional formulations such as Deplin for depression and Metanx for diabetes. These factors drive demand for clinical nutrition in homecare settings by helping enhance the effectiveness of treatment and improving the overall quality of medical treatment. The high prevalence of preterm births and the rising need for pediatric nutrition are expected to boost the market for homecare enteral feeding formula. In addition, as per statistics quoted by WHO, in 2018, the number of preterm births in the country was 517,400. Also, in the state of Indiana, in 2018, one in every ten infants were pre-term births. Therefore, the high incidence of preterm births in the Indiana state, coupled with improving healthcare infrastructure and growing healthcare expenditure and patient awareness, is expected to be a high impact rendering driver for the market during the forecast period.
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- Attention Deficit Hyperactivity Disorder Market – The global attention deficit hyperactivity disorder market size was valued at USD 16.4 billion in 2018 and is estimated to exhibit a CAGR of 6.4% over the forecast period. Product launches across the globe, approval of new drugs, and increased research and development activities are likely to drive the market.
- Glucose Market – The global glucose market size was estimated at USD 42.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2028. The escalating demand for confectionery, soft drink, and bakery products in the food and beverages sector that uses glucose (dextrose) as an ingredient is driving the market.
Indiana Homecare Enteral Feeding Formula Market Segmentation
Grand View Research, Inc. has segmented the Indiana homecare enteral feeding formula market report on the basis of product, flow type, stage, and indication:
Indiana Homecare Enteral Feeding Formula Product Outlook (Revenue, USD Million, 2016 – 2028)
- Standard Formula
- Disease-specific Formula
Indiana Homecare Enteral Feeding Formula Flow Type Outlook (Revenue, USD Million, 2016 – 2028)
- Intermittent Feeding Flow
- Continuous Feeding Flow
Indiana Homecare Enteral Feeding Formula Stage Outlook (Revenue, USD Million, 2016 – 2028)
Indiana Homecare Enteral Feeding Formula Indication Outlook (Revenue, USD Million, 2016 – 2028)
- Nutrition Deficiency
- Cancer Care
- Chronic Kidney Disease
- Orphan Disease
- Pain Management
- Malabsorption/ GI Disorder/ Diarrhea
Market Share Insights
- December 2020: Abbott expanded its Pedialyte product portfolio with four new formulations to support the immune system: Pedialyte with immune support, Pedialyte Sport, Pedialyte Organic, and Pedialyte Electrolyte Water with zero sugar.
Key Companies profiled:
Some prominent players in the Indiana homecare enteral feeding formula market include
- Mead Johnson & Company, LLC
- Byram Healthcare Centers, Inc.
- Real Food Blends
- Shield Healthcare, Inc.
- Nutritional Medicinals LLC
- Kate Farms
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