Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global enteral nutrition market was assessed at US$ 13.11 billion in 2016, and is expected to reach US$ 19.31 billion over the forecast period (2017-2025), registering a decent CAGR of 4.47%. Rising geriatric population, combined with the growing prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, is projected to majorly propel the global enteral nutrition market over the forecast timeframe. According to the Centers for Disease Control and Prevention (CDC), chronic diseases accounted for the highest number of deaths in the U.S. in 2016. Increasing cases of malnutrition and premature births is another supportive factor for the growth of the global enteral nutrition market.
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As reported by the World Health Organization (WHO), preterm birth is one of the principal causes of death among children, below the age of 5 years, in countries including India, China, Pakistan, the U.S., Brazil, Bangladesh, Nigeria, Indonesia, and the Philippines. Furthermore, increasing technological advancements, such as tubes manufactured from polyurethane or silicone, the development of percutaneous endoscopic gastrostomy techniques, and an upsurge in the demand for home care services are other significant factors responsible for the global market growth. As per the Agency for Clinical Innovation (ACI), around 9000 people received home enteral nutrition (HEN) therapies in New South Wales (NSW) in 2012.
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Key Market Trends:
- Among the various disease types, the chronic diseases segment led the global market in 2016, and is predicted to record the fastest growth among all other segments in the near future. Its sub-segments include renal, hepatic, diabetic, and others.
- With respect to age group, the global enteral nutrition market is bifurcated into below 15, 15 to 30, 30 to 45, 45 to 60, and above 60 age categories. The above 60 age segment accounted for the largest market in 2016, as chronic diseases are much more prevalent among the geriatric population. Based on the data provided by the National Council on Ageing, about 90% of the global geriatric population suffered from at least one chronic disease in 2016.
Regional Segmentation:
North America emerged as a dominant region in the global enteral nutrition market in 2016, accounting for US$ 4.24 billion. The regional market is poised to record a CAGR of 3.7%, in terms of revenue, during the forecast period. Market growth in this region is triggered by the escalating number of premature births in North America. As per the data compiled by the National Center for Biotechnology Information (NCBI), North America registered a significant upsurge in preterm birth cases in the year 2016.
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Europe is expected to grow substantially over the projected timeframe. The regional market expansion is driven by the surging incidence rate of cancer and diabetes in the region. In 2016, over 2.4 million people in the U.K. were affected by cancer, and the figure is likely to surpass 3.7 million by the end of 2035. Furthermore, the International Diabetes Federation reported that over 6.5 million of Germany’s were found with diabetes in 2015.
Key Players:
The 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.
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