Enteral Feeding Devices: A Global Strategic Business Report
San Jose, CA (PRWEB) September 16, 2013
Follow us on LinkedIn – Enteral nutrition therapy is extremely suitable for patients suffering from functional impairment of the gastrointestinal tract. These patients are dependent on artificial feeding techniques such as tube feeding to deliver specialized formulations to meet daily hydration and nutrition requirements of the body. Enteral nutrition therapy is being preferred over parenteral nutrition primarily due to cheaper costs, lower risk, and convenience offered by the modality. Enteral feeding devices market worldwide is driven by the mounting demand from aging demographics in major markets such as the US, Japan and Europe accompanied by the increase in number of premature births. Traditionally, enteral feeding devices were deemed suitable only for end-of-life applications. However, the convenience and higher efficiency rates associated with these devices led to its use in paediatric indications as well. Rising incidences of chronic disease such as cancer and neurological diseases, not only among the aging demographics but also in the younger population have increased the need for reconstructive surgeries, chemotherapy and radiotherapy procedures, which in turn is expected to fuel demand for enteral feeding devices and products.
Although the enteral feeding device market registered declining growth rates during the 2007-2009 global economic recession, the market remained relatively resilient to the poor economic conditions. The downturn in the US economy slowed down new device purchases, but revived the rental/lease market. In both the US and the European markets, the period witnessed longer replacement cycles for enteral feeding tubes as a result of poor economic conditions and lower reimbursement rates. This in turn lowered device turnover and limited market growth. Slower growth of the enteral feeding devices market in the US was offset by growth in emerging nations such as China, India, Brazil, among others. In the coming years, technological advances focusing on integrating computer-aided design to enteral feeding devices primarily aimed at improving the efficiency of the procedure will offer significant opportunities for market growth.
Rising disposable incomes, increased spending on healthcare and improving standards of living represent key factors that are anticipated to fuel growth in developing markets of Asia-Pacific, Eastern Europe and Latin America. Multinationals’ looking to establish regional leadership are investing in local R&D to produce tailor-made products. Several leading multinationals are forming strategic alliances with hospitals and healthcare facilities to deliver training and demonstrate product use to doctors and healthcare professionals. Few others are partnering with physician association and government and non-government organizations to increase awareness levels by launching training programs.
Enteral Feeding Pumps represents the largest and fastest growing product category. Over the years, there have been numerous changes in the design and technology of enteral feeding pumps in tune with the evolving needs of patients and healthcare providers. Enteral feeding pumps represent a high growth market, driven by its increasing use in home care settings for patients with malnutrition or chronic illnesses, such as cancer, diabetes, and AIDS. However, a key challenge that remains to be addressed is the development of pumps with a higher degree of accuracy and safety.
As stated by the new market research report on Enteral Feeding Devices, Europe represents the largest market worldwide, followed by the United States. Asia-Pacific is forecast to spearhead growth with the fastest CAGR of 8.0% over the analysis period. The region offers huge untapped potential for growth given the relatively low product penetration rates in countries like India and China.
Key players covered in the report include American HomePatient Inc., Amsino International Inc., Applied Medical Technology Inc., Boston Scientific Corporation, C. R. Bard Inc., Caesarea Medical Electronics Ltd., Cook Medical Inc., CONMED Corporation, CORPAK MedSystems Inc., Covidien Plc, Fresenius SE & Co. KGaA, Fresenius KABI AG, Kimberly-Clark Corporation, Moog Inc., Nestlé HealthCare Nutrition, Nutricia Advanced Medical Nutrition and VYGON SA, among others.
The research report titled “Enteral Feeding Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, industry overview, trends, growth drivers, latest product launches and recent industry activity. The report provides market estimates and projections in US$ for product segments including Feeding Pumps, Nasogastric Tubes and Others. Geographic markets analyzed in the report include the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America and Rest of World.
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Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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