Low-Profile Feeding Tubes to Show Relatively Stronger Growth, According to Millennium Research Group
TORONTO--(BUSINESS WIRE)-- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, growth in both the United States and European enteral feeding device markets will be driven by an aging population, which results in more people developing conditions that require the use of enteral feeding devices. The overall US and European market will reach a value of $656 million by 2016.
A strong trend in both the US and European markets is the continued uptake of low-profile feeding tubes, replacing standard G-tubes in patients seeking enhanced mobility. Low-profile tubes provide feed to patients directly through the abdomen to the stomach. They terminate at skin level, are more easily hidden and incur fewer accidental removals than G-tubes, with their longer length of exposed tubing. Low-profile tubes will grow particularly strongly in Europe, with an average annual increase of units sold of nearly seven percent.
Kimberly Clark’s popular MIC-KEY low-profile feeding tube has helped it to successfully gain market share in both the US and European enteral feeding device markets. Other competitors in the enteral feeding device market include Covidien and Abbott Nutrition in the US and Fresenius Kabi, Danone, and Nestlé Healthcare Nutrition in Europe.
Standard G-tubes, however, will still see an average growth of nearly three percent per year through 2016. While less convenient for highly ambulatory patients, they are cheaper, and easier for caregivers to use, and will continue to be used for patients who do not desire the increased mobility offered by low-profile feeding tubes.
“In both regions, feeding tubes, which require occasional replacement, will be left in patients longer than they are indicated for, which will reduce turnover and therefore limit units sold and growth in the market,” said MRG Analyst Travis Allen. “This trend is partially a result of low reimbursement in the US and continued economic struggles in Europe.”
Millennium Research Group’s US and European Markets for Enteral Feeding Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for giving sets, percutaneous endoscopic gastrostomy (PEG) kits, low-profile gastrostomy devices, G-tubes, nasogastric (NG) tubes and enteral pumps sold in the United States and in France, Germany, Italy, Spain and the United Kingdom.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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Source: Millennium Research Group