With the brunt of the Baby Boomer generation sitting above 65-years-old, the demand for enteral feeding devices is on the rise. These devices deliver nutrition and medications to patients who are unable to swallow or are neurologically impaired. Coping with the rising population of senior citizens is one of the major reasons expected to cause challenges for The Global Enteral Feeding Devices Market. In order for the market to thrive, these major hurdles will have to be addressed:
- Enteral Feeding Tube Complications: blockage, nausea, abdominal distention, bleeding and infection are just a few of the things that could go wrong with feeding tubes that could compromise the safety of the patient.
- High Costs: commonly used tubing connectors have a history of complications and while more advanced connectors exist, they are a costly alternative.
- Stringent Reimbursement Policies: reimbursement regulations worldwide are expected to reduce turnover and limit the number of units sold.
- Vendor Competition: the intense competition within the market is largely based on clinical results and product design. The competition leaves vendors operating on low profit margins.
Fortunately, emerging trends like the ones mentioned below will keep the market moving forward:
- Low-Profile Feeding Tubes: these tubes provide nutrition to patients directly through the abdomen. They stop at skin level, are more easily hidden and incur fewer accidental removals than the current go-to G-tube. They can also be replaced at home, eliminating the need for a hospital visit.
- Demand for Patient Mobility: major market players have begun developing enteral feeding devices which allow patients to go about their day-to-day activities without being restricted to a bed or chair.
- Corporate Activity: a number of leading vendors are focusing on mergers and acquisitions or collaborations to increase global presence and improve patient protection.
Major market players like Abbott Laboratories, Covidien and Fresenius Kabi are already rising to the challenge with projects underway, many with immense potential to succeed. Though this market will has its share of hiccups, we at TechNavio feel that the quick response from vendors should propel the market to grow at a CAGR of 6.23 percent during the 2012-2016 period.
For more information, view our 2012-2016 Global Enteral Feeding Devices Market report.
