Global Market for Enteral Nutrition Devices to Pass $1.5 Billion by 2022
New study says a global aging population and rising incidence of cancer, stroke and premature birth will drive trend.
- By David Kopf
- Jun 09, 2016
The global market for enteral nutrition devices market is projected to grow at a compound annual growth rate of 4.1 percent from $1.15 billion in 2015 to $1.52 billion by 2022, according to a new report from research and consulting firm GlobalData.
The growth will occur across the United States, France, Germany, Italy, Spain, the United Kingdom, and Japan, and will primarily be driven by the global aging population and rising prevalence of indications such as cancer, stroke and premature birth, according to MediPoint: Enteral Feeding Devices – Global Analysis and Market Forecasts.
Another important driver for the market expansion are the shift from acute hospital care to a community-based approach, and the benefits of enteral nutrition not observed in patients receiving parenteral nutrition.
As enteral devices grown more sophisticated and technologically advanced, the shift from parenteral to enteral nutrition will increase in both hospitals and homecare. In turn, increasing awareness of enteral nutrition’s beneficial role in disease treatment and prevention will foster market expansion, according to GlobalData.
“In order to make the most of the move towards enteral devices, companies need to recognize that markets vary, and adapt their strategies to different areas, creating a regional orientation,” said Jordan Betel, GlobalData’s analyst covering medical devices, “Indeed, different regional reimbursement schemes and varied medical approaches pose a major challenge to enteral feeding device manufacturers.
“Companies also need to blend their marketing and scientific areas to create opportunities, while manufacturers need to ensure they understand and effectively position the core product in terms of its value proposition,” he added.
David Kopf is the Publisher and Executive Editor of HME Business and DME Pharmacy magazines. Follow him on Twitter at @postacutenews.