Enteral Nutrition Market is Estimated To Witness High Growth Owing To Rising Prevalence of Chronic Diseases

 
Enteral Nutrition Market

Market Overview:

Enteral nutrition refers to the delivery of nutrients or nutritional substances directly into the gastrointestinal tract through tubes. It provides an alternative route of feeding when oral route is not feasible due to diseases such as cancer, gastrointestinal disorder, neurological disorders etc. Enteral nutrition helps in recovery, growth, and maintenance of gastrointestinal health. The global need for enteral nutrition is rising owing to increasing prevalence of chronic diseases worldwide.

Market key trends:
One of the key trends driving the growth of enteral nutrition market is rising prevalence of chronic diseases globally. According to WHO, chronic diseases are the leading cause of mortality in the world and account for approximately 60% of all deaths. The rising burden of chronic conditions such as cancer, gastrointestinal diseases, neurological disorders is resulting in increasing number of patients requiring enteral nutritional support through tubes. As per National Cancer Institute, around 1.8 million new cases of cancer were diagnosed in 2020 in the US. Further, enterally administered nutrition provides clear clinical advantages over the parenteral route in many disease conditions including better patient tolerance, reduced risk of infection, and lower costs. This is strengthening the adoption of enteral tubes worldwide for nutritional support.

Porter’s Analysis

Threat of new entrants: High Capital requirements and established brand loyalty pose a barrier for new companies to enter the market.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, availability of specialized formulas and brands provides some differentiation.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternate suppliers. However, key suppliers control majority share of raw material production.

Threat of new substitutes: Threat of substitutes is low due to specialized clinical formulations and administration methods required for enteral nutrition.

Competitive rivalry: Intense competition between major players to sustain market share.

SWOT Analysis

Strength: Wide range of specialized clinical formulas and administration methods. Strong distribution network and brand loyalty among consumers.

Weakness: High formulation and administration costs. Supply chain complexities due to specialized storage and handling requirements.

Opportunity: Growth in home enteral nutrition driven by shift towards home healthcare. Rising incidence of chronic diseases in emerging markets.

Threats: Price control regulations in some markets. Reimbursement issues and healthcare affordability in developing regions.

Key Takeaways

The global Enteral Nutrition market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing prevalence of chronic diseases. The rising geriatric population base and growing incidence of preterm births, cancer, and neurological disorders are major demand drivers.

Regional analysis North America dominates the global enteral nutrition market currently and is expected to maintain its dominance over the forecast period. This is attributed to the presence of major players, rising healthcare expenditure, and growing chronic disease burden in the region. However, Asia Pacific is expected to exhibit the highest growth rate owing to rising incomes, expanding healthcare infrastructure, and growing medical tourism in the region.

Key players operating in the enteral nutrition market are Abbott, Nestlé S.A., Danone S.A., Fresenius Kabi AG, Mead Johnson & Company, LLC, Braun Melsungen AG, Otsuka Pharmaceutical Co., Ltd, Meiji Holdings Co., Ltd., Bahrain Pharma, Bionova Lifesciences, Global Health Products Inc., Victus Inc., Curtis Health Caps SP. These players are focused on new product launches, mergers & acquisitions and expanding to emerging markets to sustain their leading position.

Read More:

https://www.dailyprbulletin.com/growing-demand-for-home-healthcare-to-boost-the-growth/

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