According to a new report published by Allied Market Research, titled, “Enteral Collagen Peptide Protein Market by form, age group, and end user: global opportunity analysis and industry forecast, 2021–2030," The global enteral collagen peptide protein market was valued at $14,586 thousand growth in 2020, and is projected to reach $25,811 thousand by 2030, registering a CAGR of 7.2% from 2021-2030.
Collagen peptide protein is a soluble protein supplement derived from bovine or marine protein. These proteins help to maintain bone, skin, and joint health. Moreover, enteral collagen peptide proteins provide hydrolyzed collagen directly in the gastrointestinal tract in patients who cannot swallow food or get enough nourishment by eating or drinking. This process of administrating nutrition involves the usage of enteral feeding devices such as pumps and tubes. These medical devices deliver the medications and nutrients directly into the stomach, duodenum, or jejunum either via the nose, mouth, or direct percutaneous route.
Increase in prevalence of chronic diseases, such as arthritis, rheumatoid arthritis, and other inflammatory bone diseases as well as increase in geriatric population, globally are major drivers of the global market. Furthermore, changes in lifestyle & dietary habits and rise in awareness of malnutrition among individuals are notably contributes toward the market growth, globally. Moreover, increase in R&D activities for the development of novel products based on customer personalization along with government promoting healthy diet are expected to create potential growth opportunities for the global market during the forecast period. However, poor demand and lack of awareness of enteral nutrition in underdeveloped countries impede the market growth.
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. Lockdown, government regulations, and continuous increase in infection rate across the country created a widespread financial impact on neurology hospitals and clinics. Large number of hospitals and clinics have witnessed a drop in number of patient visits amid COVID-19 ultimately reducing client contact.
The overall impact of COVID-19 remains negative for enteral collagen peptide protein, owing to decline in meat consumption, especially marine and bovine products, across the globe. In addition, COVID-19 pandemic has affected the enteral collagen peptide protein products production and import & export of finished goods, owing to lockdown in various COVID-19-affected countries and rise in number of healthcare workers falling ill during the pandemic, leading to short supply. Temporary disruptions of inputs or production might stress some companies, particularly those with inadequate liquidity. Moreover, delayed shipments & production schedules create financial problems for companies with heavy debts. Thus, the enteral collagen peptide protein market has been negatively impacted due to the current global health crisis.
The enteral collagen peptide market is segmented into from, age group, end user, and region.
On the basis of form, the market is categorized into liquid & powder. Presently, the liquid segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in the demand and consumption of enteral supplements that come in the form of liquid, owing to increase in availability of liquid enteral collagen peptide protein products and rise in health concerns among consumers are expected to drive the growth of market.
On the basis of age group, the market is bifurcated into adults and pediatric. The adult (above18) segment accounted for maximum revenue in 2020, and is anticipated to gain prominence during the forecast period, owing to higher number of patients suffering from osteoarthritis, osteoporosis, and rheumatoid arthritis. Furthermore, increase in geriatric population that requires enteral collagen peptide protein and has difficulty in swallowing is expected to contribute to the market growth
By end user, the market is categorized into hospital & clinics, homecare and nursing home. The homecare segment is anticipated to depict significant growth during the forecast period. This is attributed to increase in number of patients adopting enteral collagen peptide protein administration at home and increase in demand for home care enteral collagen peptide protein treatment. Moreover, increase in geriatric population, urbanization & industrialization, rising per capita income and high investments in research and development activities to produce collagen peptide protein-based products drives the growth of the market.
Key Findings Of The Study
- On the basis of form, the liquid segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- By age group, the adults (above 18) segment dominated the market in 2020, in terms of share, and is expected to lead in the near future.
- Depending on end user, the homecare segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.2% during the forecast period.
North America was the largest shareholder in the enteral collagen peptide protein market in 2020, owing to the increase in geriatric population, rise in R&D investments in developments of collagen peptide protein products for various chronic disease, and supportive government initiatives directed toward the reduction of malnutrition are the major factors driving the growth of the enteral collagen peptide protein market. However, Asia-Pacific is projected to register the fastest growth during the forecast period, owing to increase in geriatric population, rise in people suffering from arthritis, and increase in demand for enteral collagen peptide protein products.