Global enteral feeding devices market is poised to witness a remarkable surge, owing to the growing geriatric population base, increasing pre-term births, and rising incidences of chronic diseases. In addition to this, rising awareness in the patients regarding advance diagnosis tests for early stage diseases and cost effective treatments indicates lucrative growth opportunities for the enteral feeding devices industry. According to Global Market Insights, Inc. “Enteral Feeding Devices Market size is estimated to witness a CAGR of 6.1% over the period of 2016-2023.” Moreover, innovations and technological advancements in order to meet different patients’ demand such as portability, accuracy, and user-friendly features will fuel the growth of the enteral feeding devices market.
U.S. Enteral Feeding Devices Market size, by Product, 2012- 2024 (USD Mn)
Enteral feeding devices have transformed the healthcare and the medical nutrition industry, where these devices are used for delivering nutritionally complete food containing fat, protein, carbohydrate, minerals, and vitamins directly into the stomach or intestine of the patients. The enteral feeding devices are majorly used by the patients who are unable to obtain their nutritional needs through the oral route. The beneficial role played by the feeding devices, tubes, and pumps for the suffering patients will augment the enteral feeding devices industry.
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Based on the product type, the enteral feeding devices market is segmented into the enteral feeding pump, gastrostomy devices, gastrostomy tube, nasogastric tube, giving set, percutaneous endoscopic gastrostomy devices, and low profile gastrostomy device. The rising prevalence of preterm births, growing geriatric population and increasing use of device in home care settings for patients are the key factors driving the enteral feeding devices product landscape.
Enteral feeding pumps market revenue contributing to the highest industry share is projected to beat USD 3.5 billion by 2024. Enteral feeding pump is estimated to be the leading segment registering a CAGR of 6.1% over the period of 2016-2024. Moreover, nasogastric tubes and percutaneous endoscopic gastrostomy devices market will also witness a significant surge in the coming seven years. Furthermore, technological advancements in the product have led to rise in sales of enteral pumps such as companion enteral nutrition pumps, patrol enteral pump, and flexiflo quantum enteral pump.
Geographically, Europe enteral feeding devices market accounting for largest industry share, is set to cross USD 1 billion by 2024, owing to rising patient awareness levels, high healthcare expenditure, increasing geriatric population, and highly developed healthcare facilities. Moreover, implementation of favorable regulations and growing R&D for advancement in product portfolio will augment the enteral feeding devices industry growth.
Asia Pacific enteral feeding devices industry, with growth imminent from China and India, is on the verge of becoming most profitable market with an annual growth rate of 6.8% over the period of 2016-2024. Presence of high geriatric population in Japan is also likely to elevate the business opportunities for the enteral feeding devices industry.
Global enteral feeding devices industry is consolidated with key industry players sharing 70% of the overall business space. The notable industry participants include Abbott Nutrition, Nestle, Fresenius Kabi, Danone, Conmed Corporation, Amsino International Inc., Cook Medical, Kimberly Clark Corporation, etc.
Author Name : Ojaswita Kutepatil