Global Enteral Nutrition Market Expected to Grow at 6% CAGR During 2016 - 2022: P&S Market Research
NEW YORK, May 11, 2016 /PRNewswire/ --
According to market research "Global Enteral Nutrition Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Standard Enteral Nutrition, Enteral Nutrition for Chronic Illness)" by P&S Market Research, the global enteral nutrition market was valued at $12,300.0 million in 2015, and it is expected to grow at a CAGR of 5.8% during 2016 - 2022.
The factors driving the growth of the global market include increasing geriatric population, lower cost of enteral nutrition products, surge in the number of victims of malnutrition receiving treatment, high number of premature births and increasing incidence of cancer and central nervous system diseases. Enteral nutrition products are considered to be one of the best alternatives during the treatment of cancer and CNS diseases, to avoid nutrition deficiency in human body for optimal functioning of various organs. Cancer can change the metabolism of nutrient uptake in patient's body, therefore they require good nutrition. Cancer may lead to malnutrition and weight loss; therefore, patients are required continuous nutrient feeding. Enteral nutrition is one of the best solutions to the problem. According to the WHO, there were 14.1 million new cancer cases, 8.2 million cancer deaths and 32.6 million people living with cancer (within 5 years of diagnosis) in 2012 globally. The organization also reported that 57% (8 million) of new cancer cases, 65% (5.3 million) of the cancer deaths and 48% (15.6 million) of the 5-year prevalent cancer cases occurred in the less developed regions.
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Similarly, the patients with CNS diseases also need proper intake of nutrients; therefore supporting the demand for enteral nutrition products. Now-a-days, various enteral nutrition products are available in the market. With the growing awareness about the association between health and nutrition, the benefits of nutritional products in the recovering process and their cost-effectiveness is driving the growth of the enteral nutrition market.
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In 2015, Asia-Pacific held the largest share in the global enteral nutrition market with 34.1% share. The enteral nutrition market in the region is anticipated to witness the highest growth at a CAGR of 7.0% during the forecast period. The increasing birth rate, along with growing geriatric population and high number of people having malnutrition is driving the growth of the enteral nutrition market in the region. The total number of people aged 65 years and above in Asia-Pacific was estimated at 288.0 million in 2010. This number is expected to reach 911.0 million by 2050. Japan has the largest old age population in Asia-Pacific. It is expected that one out of 2.5 people in Japan would be over 60 years by 2050.
Some of the major players operating in the global enteral nutrition market include Baxter International Inc., Abbott Laboratories, B. Braun Melsungen AG, Nestlé S.A., Groupe Danone, Mead Johnson Nutrition Company, Fresenius Kabi AG, and Perrigo Company Plc.
GLOBAL ENTERAL NUTRITION MARKET SEGMENTATION
- Standard Enteral Nutrition
- Enteral Nutrition for Chronic Illness
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Rest of the World
- South Africa
- Saudi Arabia
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