North America dominated the enteral nutrition market in 2016, accounting for over 30% of the market share and is expected to retain its dominance throughout the forecast period (2017–2025
PR-Inside.com: 2018-06-13 13:39:22
Enteral nutrition also known as tube feeding, is a way to nutritional feed containing carbohydrates, proteins, water, fats, vitamins, and minerals to patients through tubes. The tube that is placed through the nose in the stomach is called as nasoenteral or nasogastric feeding tube and the tube, which is placed directly through the skin in the stomach is called jejunostomy or gastrostomy. Patients suffering from chronic conditions including head trauma, cancer, strokes, and premature infants require tube feeding formula for gaining required nutrition as it is difficult for such patients to normally ingest food or medications. Nasogastric tube is commonly used for providing nutrition, hydration, and essential medications and is the most preferred method for short term feeding in the acute phase of stroke, according to NCBI.
Ask for detailed Sample of the Research Report @ www.coherentmarketinsights.com/insight/request-sample/1115
Major factors propelling growth of the global enteral nutrition market are rising prevalence of chronic diseases such as diabetes, heart disease, and cancer coupled with increasing health care expenditure, worldwide. According to the American Diabetes Association (ADA), long term use of nutritional support with diabetes specific formula helps reducing chronic complications of diabetes such as cardiovascular diseases and according to the National Center for Biotechnology Information (NCBI), the use of enteral nutrition is helpful in patients with chronic heart failure (CHF). Further, according to the Office for National Statistics, in the U.K., total health care expenditure was US$ 239.92 billion in 2014, which increased by 3.6% and pegged at US$ 248.51 billion in 2015. High health care expenditure of a region depicts the affordability of the patients for expensive medical services. This in turn, is anticipated to support the overall growth of enteral nutrition market as according to NCBI, tube feeding a patient involves higher cost as compared to those without tubes. Enteral nutrition is used for patients across all age groups, however, the geriatric population segment is the most lucrative segment. Health concerns such as metabolic disorders and loss of appetite are more prevalent among the geriatric population, which is a key factor for growth of the enteral nutrition market.
Complications associated with enteral nutrition, include patient safety risks and feeding and medication errors, which is a restraining factor for this market growth. For instance, according to NCBI, placing of a nasogastric tube is associated with various risks including gastrointestinal complications, aspiration, mechanical complications, and metabolic complications.
North America dominated the enteral nutrition market in 2016, accounting for over 30% of the market share and is expected to retain its dominance throughout the forecast period (2017–2025). Rising geriatric population in the region coupled with increasing incidences of chronic illnesses are some of the key factors complementing growth of the enteral nutrition market in the region. According to the Centers for Disease Control and Prevention (CDC), heart diseases, cancer, diabetes and strokes were the leading causes of disabilities and deaths in the U.S., in 2016. Moreover, according to the National Cancer Institute, in 2016, approximately 1.6 million patients were diagnosed with cancer in the U.S., out of which 0.59 million died from the disease. These factors are responsible for increased use of enteral nutrition in the U.S., thereby fuelling growth of the market in North America.
Asia Pacific is projected to be the fastest growing market for enteral nutrition, exhibiting a CAGR of 6.35% over the forecast period, with India and China being the major contributors in the region. China and India have high proportion of geriatric population. According to the United Nations Economic and Social Commission for Asia and Pacific (UNESCAP), the geriatric population in Asia Pacific is rising significantly. In 2016, the proportion of geriatric population in North East Asia was around 17%, which is anticipated to cross 35%, whereas, in North and Central Asia it is projected to cross 20% by 2050. Furthermore, diabetes has become a major concern for the populace in this region.
According to the data provided by the National Center for Biotechnology Information (NCBI), in 2014, the region accounted for approximately 150 million diabetic patients, out of which, over 95% fall in the category of type 2 diabetes (T2DM). Further, according to the World Health Organization (WHO), in 2016, China had high diabetic population, which was around 110 million and the number is expected to increase to 150 million by 2040. However, China’s healthcare spending has increased significantly over the past decade, from US$ 90.8 billion in 2004 to US$ 590.2 billion in 2014 and the same is expected to increase further in the future. The steadily growing health care expenditure is expected to confer a boost to this market growth as high expenditure on health care indicates the affordability of patients for expensive medical services. This in turn, is expected to strongly support growth of the enteral nutrition market in Asia Pacific in the near future.
Among disease type, chronic segment accounted for the largest share in 2016 and is expected to retain its dominance throughout the forecast period. Rising cases of chronic diseases such as cancer, cardiovascular diseases, and diabetes worldwide is propelling demand for this nutrition. According to the World Health Organization (WHO), in 2015, out of 56.4 million global deaths, around 70% were due to non-communicable diseases (NCDs), which include cardiovascular diseases, diabetes, cancer, and chronic lung diseases.
Get More Information @ www.coherentmarketinsights.com/market-insight/enteral-nutrition- ..
Among age groups, the above 60 segment accounted for the largest market share in 2016, and is expected to be the fastest growing segment, as geriatric population requires more support services and the healthcare spending is also high for this segment. According to the Department of Economic and Social Affairs Population Division, the geriatric population (aging 60 or above) is expected to increase by 56% between 2015 and 2030 and according to the NCBI spending on health care services for the elderly population has been increasing since 1965. These are the major factors, which are expected to support growth of the enteral nutrition market over the forecast period.
Major players operating in the global enteral nutrition market include Nestle S.A., Baxter International Inc., B. Braun Holding GmbH & Co. KG, Abbott Laboratories, Groupe Danone, Reckitt Benckiser Group Plc, Perrigo Company Plc., Meiji Seika Pharma Co. Ltd., and Fresenius Kabi AG.