The global enteral feeding devices market is set to rise from $1.15 billion in 2015 to $1.52 billion by 2022, representing a compound annual growth rate of 4.1 percent, according to research and consulting firm GlobalData.
The company’s latest report states that growth, which will occur across the seven major markets of the U.S., France, Germany, Italy, Spain, the U.K., and Japan, will primarily be driven by the global aging population and rising prevalence of indications such as cancer, stroke and premature birth. Other key factors will include a shift from acute hospital care to a community-based approach, and the benefits of enteral nutrition not observed in patients receiving parenteral nutrition.
“Enteral nutrition, which utilizes a tube to feed directly into the stomach or small bowel, is increasingly being used over parenteral nutrition, which is administered via intravenous injection and bypasses the entire digestive system,” Jordan Betel, GlobalData’s analyst covering medical devices, said.“Enteral nutrition is a more natural and physiological way for patients to receive nutrients,” he added. “Its long-promoted advantages over parenteral nutrition include reduced cost, stimulated intestinal blood flow, prevention of gastrointestinal tract disuse atrophy, maintenance of the gastrointestinal mucosal barrier, improved immune function, and efficient use of nutrients by the patient.”
As more sophisticated, technologically advanced enteral feeds and devices develop, the shift from parenteral to enteral nutrition will increase penetration levels in hospitals and the homecare segment, according to the report. By extension, rising awareness of the beneficial role of enteral clinical nutrition in disease treatment and prevention, coupled with the provision of improved, consistently high-quality clinical data, will promote market expansion.
The analyst noted that 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. Different regional reimbursement schemes and varied medical approaches pose a major challenge to enteral feeding device manufacturers, he added.
“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,” Betel said. “Currently, the market is dominated by Abbott Nutrition, Covidien (Medtronic), Fresenius Kabi, Halyard Health, Nestlé Health Science, and Nutricia, which are able to use their global distribution networks to increase the exposure of their enteral products.”