South & Central America Enteral Nutrition Market Forecast to 2030 - Regional Analysis - by Product Type, Application, Age Group, and Distribution Channel

The South & Central America enteral nutrition market was valued at US$ 432.34 million in 2022 and is expected to reach US$ 642.34 million by 2030; it is estimated to grow at a CAGR of 5.1% from 2022 to 2030.

Strategic Initiatives by Key Market Players Fuel South & Central America Enteral Nutrition Market

Companies operating in the enteral nutrition market continuously focus on strategic developments such as collaborations, expansions, agreements, partnerships, and new product launches. These help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a larger than existing customer base. A few of the noteworthy developments in the enteral nutrition market are mentioned below:

• In May 2022, Nestle Health Science acquired Puravida, a premium Brazilian nutrition and healthy lifestyle brand. With its products such as vitamins, minerals, and supplements, Puravida's product line complements Nestle's portfolio. This acquisition allows Nestle Health Science to expand its brand portfolio and extend its reach to a broader range of consumers and patients with improved, dependable, nutritious, and high-quality products.

• In March 2022, Vygon (a specialist single-use medical devices group) acquired Macatt Medica (a distribution company located in Peru). With the acquisition, Macatt Medica became a fully owned subsidiary of Vygon, supporting the latter's operations in South America. Macatt Medica now distributes most of Vygon's products in Peru, including a range of enteral nutrition products.

• In September 2021, Abbott introduced plant-based protein and organic food ingredients-PediaSure Harvest and Ensure Harvest-for people relying on feeding tubes. Harvest products can be used as sole-source nutrition or a supplement to satisfy daily nutrition requirements.

• In October 2020, Nutricia (part of Danone) acquired Real Food Blends. The company brings unique and nutritious choices to children and adults dependent on feeding tubes, in line with its real food blends mission.

• Therefore, introducing products such as ready-to-drink and ready-to-use nutritional supplements, the development of innovative products targeting various health issues, and strategic moves such as expansions and acquisitions allow companies in the enteral nutrition market to create new or improved products and new business to remain competitive in the market. Thus, such strategic growth initiatives create significant growth opportunities in the market.

South & Central America Enteral Nutrition Market Overview

The South & Central America enteral nutrition market is segmented into Brazil, Argentina, and the Rest of South & Central America. Factors such as the growing geriatric population, rising incidence of chronic diseases, rising incidence of neurologic disorders such as stroke and cerebral aneurysms, and product innovations by the players operating in the region are driving the market.

The increasing prevalence of chronic diseases, such as cancer and diabetes, drives the enteral nutrition market in Brazil. The average prevalence of diabetes in Brazil is 8.0% and is expected to reach 9.8% by 2035. This rising prevalence of diabetes has translated into a 60% growth in the related risk ratio for cardiovascular diseases associated with diabetes. This is likely to increase the demand for enteral nutrition in treating the patients.

In addition, the prevalence of neurological disorders has been linked with the aging population in Brazil. The World Health Organization and the Brazilian Institute of Geography and Statistics reported that the geriatric population in Brazil (aged ? 60 years) will reach ~55 million by 2040. The rising geriatric population is expected to increase the incidence of chronic neurological disorders in the coming years, and this increase in neurological diseases is likely to propel the demand for enteral nutrition.

South & Central America Enteral Nutrition Market Segmentation

The South & Central America enteral nutrition market is segmented based on product type, application, age group, distribution channel, and country.

Based on product type, the South & Central America enteral nutrition market is bifurcated into general and disease specific. The general segment held a larger South & Central America enteral nutrition market share in 2022.

In terms of application, the South & Central America enteral nutrition market is segmented into gastrointestinal disorders, metabolic/inborn errors of metabolism, food allergy, renal disease, liver disease, oncology, neurology, and others. The gastrointestinal disorders segment held the largest South & Central America enteral nutrition market share in 2022.

Based on age group, the South & Central America enteral nutrition market is bifurcated into adult and pediatric. The adult segment held a larger South & Central America enteral nutrition market share in 2022.

By distribution channel, the South & Central America enteral nutrition market is segmented into hospital pharmacies, retail stores, e-commerce, and others. The hospital pharmacies segment held the largest South & Central America enteral nutrition market share in 2022.

Based on country, the South & Central America enteral nutrition market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America enteral nutrition market in 2022.

Abbott Laboratories, Nestle SA, Danone SA, Fresenius SE & Co KGaA, B Braun SE, Dr Schar AG, Reckitt Benckiser Group Plc, and Royal FrieslandCampina NV are some of the leading companies operating in the South & Central America enteral nutrition market.