DUBAI, U.A.E, Aug. 31, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the global enteral feeding devices market is forecasted to witness substantial growth in terms of value between 2020 and 2030
According to the US National Library of Medicine National Institutes of Health, over 1 Mn cases of gastric cancer cases are diagnosed every year. The negative effects of the disease include indigestion, nausea, and abdominal pain, which harden the task of consuming food properly.
As enteral feeding devices aid in administrating food, either orally or directly through the small intestine, the demand for these devices is increasing in proportion with the number of cases. In addition to gastric cancer, the increasing incidence of irritable bowel syndrome (IBS), perianal infections, diverticulitis, and hemorrhoids is also positively impacting the demand for enteral feeding devices.
Along similar lines, the burgeoning number of geriatric population is also augmenting the demand for enteral feeding devices. The high prevalence of chronic disorders in the aging population makes it arduous to consume food, thus necessitating the adoption of enteral feeding devices.
"While hospitals remain a lucrative end-use segment, manufacturers are focusing catering to the growing demand in homecare settings by maintaining the optimal prices" opines FMI analyst.
The global enteral feeding devices market will expand at a healthy CAGR of 6.6% through 2030 and will surge past valuation of US$ 6 Bn.
Among applications, oncology is expected to drive the majority of demand for the devices as consumption of food naturally becomes onerous due to chemotherapy sessions.
Feeding pumps are expected to remain the most sought-out product types, gaining traction among more than 6 out of the 10 healthcare providers worldwide.
Nasoenteric tubes are gaining prominence among healthcare institutions, owing to their efficiency in administering nutrients to patients suffering from neurological disorders, dementia, and lateral sclerosis.
Although hospitals remain the leading end-users, the home care settings segment is forecasted to account for a significant share in the market value.
Enteral Feeding Devices Market - Key Trends
COVID-19 is expected to catalyze the growth of the market as a result of the infection which comprises the patient's ability to intake solid food, thus asserting medical professionals to administer enteral feeding.
With the weight of the enteral feeding devices being a major limitation, manufacturers are now focusing on developing lightweight products to transmute the restrain into opportunity.
Major market players operating in the market include ICU Medical, Boston Scientific Corporation, Fresenius Kabi, Abbott Laboratories, Cook Medical, Cardinal Health, Inc., Becton Dickinson & Company, and Dynarex Corporation among others. Market players are focusing on developing innovative products with low weight to increase portability.
On these lines, Infinity Feeding Pumps launched the Zevex EnteraLite Infinity Feeding Pump, which weighs less than one pound.
Get Valuable Insights into the Enteral Feeding Devices Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global enteral feeding devices market , presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the enteral feeding devices market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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