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| Enteral nutrition market |
The global Enteral nutrition market is estimated to be valued at US$2,635.9 million in
2020 and is expected to exhibit a CAGR of 5.8% over the forecast period
2020-2027.
A) Market
Overview:
Enteral
nutrition refers to the delivery of nutrients directly into the digestive
tract, bypassing the oral route. It is typically used for patients who cannot
consume normal food or have difficulty absorbing nutrients. Enteral nutrition
products include formulas that provide complete nutrition, such as proteins,
carbohydrates, fats, vitamins, and minerals. These products are commonly used
in hospitals, nursing homes, and homecare settings.
B) Market
Dynamics:
1.
Increasing prevalence of chronic diseases: The rising prevalence of chronic
diseases such as cancer, diabetes, and gastrointestinal disorders drives the
demand for enteral nutrition. These patients often experience difficulty in
eating or have malabsorption issues, making enteral nutrition a crucial part of
their treatment.
2. Growing
geriatric population: The aging population is prone to various health issues
and often faces difficulty in consuming regular meals. As the geriatric
population continues to grow, the demand for enteral nutrition products is
expected to increase.
The global Enteral Nutrition Market Growth is expected to witness high growth,
exhibiting a CAGR of 5.8% over the forecast period.
C) SWOT
Analysis:
Strength:
1.
Convenient mode of nutrition delivery: Enteral nutrition products offer a
convenient and effective way to provide essential nutrients to patients who
cannot consume regular food. This method ensures adequate nutrition intake and
supports patient recovery.
2. High
demand in hospitals and healthcare facilities: Hospitals and healthcare
facilities are the primary end-users of enteral nutrition products. The demand
for these products remains high in these settings, creating a stable market.
Weakness:
1. Limited
awareness in some regions: Despite the growing popularity of enteral nutrition,
there is still limited awareness in certain regions. This can hinder market
growth in these areas.
2. High
cost of enteral nutrition products: Enteral nutrition products can be
expensive, especially for long-term use. This may limit their affordability and
accessibility for some patients.
Opportunity:
1.
Technological advancements in enteral pumps and feeding tubes: Ongoing
advancements in enteral pumps and feeding tubes improve the efficiency and
safety of enteral nutrition delivery. This presents an opportunity for market
players to develop innovative products and gain a competitive edge.
2. Growing
homecare market: The increasing trend of treating patients at home rather than
in hospitals creates a significant opportunity for the enteral nutrition
market. Homecare settings often rely on enteral nutrition for patients who
require long-term or continuous nutritional support.
Threats:
1.
Stringent regulations and safety concerns: The enteral nutrition market is
subject to strict regulations and safety standards due to the risk of
complications such as tube dislodgement and infection. Adhering to these
regulations can pose challenges for market players.
2.
Competition from parenteral nutrition: Parenteral nutrition, which involves
delivering nutrients through intravenous methods, is an alternative to enteral
nutrition. The competition between enteral and parenteral nutrition products
may impact market growth.
D) Key
Takeaways:
North
America is the dominating region in the enteral nutrition market, driven by the
presence of key players such as Abbott Laboratories and Nestlé S.A. The region
also has a well-established healthcare infrastructure and a high prevalence of
chronic diseases.
Other key
players operating in the global enteral nutrition market include Danone S.A.,
Fresenius Kabi AG, Mead Johnson & Company, LLC, B. Braun Melsungen AG,
Otsuka Pharmaceutical Co., Ltd, Meiji Holdings Co., Ltd., Bahrain Pharma,
Bionova Lifesciences, Global Health Products Inc., Victus Inc., and Curtis
Health Caps SP.
1. Overall, the enteral
nutrition market is poised for significant growth due to the increasing
prevalence of chronic diseases and the growing geriatric population.
Technological advancements and the expanding homecare market are also expected
to drive market growth. However, strict regulations and competition from
parenteral nutrition pose challenges for market players.