Global Enteral Nutrition Market: An Overview
Enteral nutrition is a medical procedure which enables severely ill patients to intake necessary diet. Usually, medical practitioners place a tube in the nose, mouth, or the intestine of the patient to help food reach the stomach of a patient. Usually, patients suffering from severe illnesses such as AIDS or cancer require such rare measures to help them consume food. The enteral nutrition market offers diet consisting of a wide range of diet products including minerals, protein, vitamins, carbohydrates, and water. Without these products, severally disabled patients will face a high risk of malnutrition. Apart from dietary requirements, the enteral nutrition market also offers enteral nutrition tubes, enteral nutritional pumps, enteral syringes, administration reservoirs, administrative sets, and oral nutritional supplements.
The Transparency Market Research (TMR) report provides a perceptive analysis of the global enteral nutrition market, which includes a detailed analysis of growth indicators and demand parameters that could influence the growth of this market. Key market parameters such as demand, drivers, and challenges of global enteral nutrition market are discussed at length in this report.
Global Enteral Nutrition Market: Key Trends
Apart from mergers and acquisitions, the global enteral nutrition market is also mainly driven by a rise in the cases of chronic diseases like AIDS, cancer, diabetes, etc. Social stigma around diseases like AIDS is disappearing due to growing awareness. This is coupled with government initiatives around the world to stop the spread of such diseases, which has led to larger number of cases being reported and actively initiated by doctors.
High costs were a major barrier to the growth of the global enteral nutrition market. The cost of the medical procedure to insert the tube and subsequent feeding were earlier out of reach for many people as it required prolonged periods of hospitalization. However, technological advancements have made it possible for people to avail equipment for home-based enteral nutrition intake. Such new equipment makes it possible for patients to intake the necessary diet themselves, granting them much-needed independence. Additionally, rise in nutritious diet and attractive packaging is also driving growth of the global enteral nutrition market. Furthermore, the growing number of lifestyle diseases, and rising incidences of geriatric disorders are also helping to further the growth of the global enteral nutrition market.
Global Enteral Nutrition Market: Regional Outlook
The global enteral nutrition market report is divided by geography into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market is registering notable growth in North America and Europe region. Highly advanced healthcare facilities, widespread awareness about chronic illnesses such as AIDS, and increasingly favorable medical insurance policies are driving growth of these two regions. Moreover, large number of enteral nutrition companies, rise in cases of geriatric population, and large number of nutritious diet choices, are also responsible for growth of the enteral nutrition market.
The enteral nutrition market is also expected to witness significant growth in Asia Pacific. Rising number of chronic illnesses like cancer, AIDS; large population, rise in awareness about major illnesses, improving medical facilities are driving growth for the enteral nutrition market. Increasing disposable income and increase in per capital GDP spending in India and China is also driving growth of the global enteral nutrition market.
Global Enteral Nutrition Market: Competitive Dynamics
The global enteral nutrition market is highly fragmented. Collaborations, acquisitions, and mergers are driving momentum for the global enteral nutrition market. Main players in the global enteral nutrition market are Abbott Laboratories, Fresenius Kabi AG, Medtronic Inc., Halyard Health, Inc., and Johnson & Johnson.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.