The enteral feeding devices market is projected to reach USD 4.1 billion by 2024 from USD 2.9 billion in 2019, at a CAGR of 6.7%
The Enteral feeding devices market is projected to grow at a CAGR of 6.7% during the forecast period (2019–2024).
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NEW YORK, Sept. 17, 2019 /PRNewswire/ -- The enteral feeding devices market is projected to reach USD 4.1 billion by 2024 from USD 2.9 billion in 2019, at a CAGR of 6.7%. Rising healthcare costs, a growing number of preterm births, rising geriatric population, the increasing prevalence of chronic diseases, and rising awareness of enteral nutrition are expected to drive market growth during the forecast period.
Moreover, the shift from parenteral to enteral nutrition and the growing adoption of—and demand for—enteral feeding devices in home and ambulatory care settings are also expected to drive the market in the coming years. On the other hand, patient safety risks, the rising cases of feeding and medication errors, and complications associated with enteral feeding tubes such as misconnections, tube dislodgement, and infections are restricting the growth of this market to a certain extent.
The enteral feeding tubes segment is expected to grow at the highest rate during the forecast period.
On the basis of type, the enteral feeding devices market segmented into enteral feeding tubes, administration sets, enteral syringes, enteral feeding pumps, and consumables.The enteral feeding tubes segment is projected to witness the highest growth in the enteral feeding devices market during the forecast period.
The rising adoption of enteral feeding has resulted in an increase in the demand and uptake of enteral feeding tubes across the globe.
The pediatrics segment is expected to grow at the highest CAGR during the forecast period.
Based on age group, the enteral feeding devices market is segmented into adults (18 years and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years).The pediatrics segment is expected to register the highest CAGR during the forecast period.
The high prevalence of preterm births across the globe is a major factor supporting the growth of this segment.
The oncology segment is expected to grow at the highest CAGR during the forecast period.
Based on application, the enteral feeding devices market is segmented into oncology, gastrointestinal disorders, neurological disorders, diabetes, hypermetabolism, and other applications.The oncology segment will continue to dominate the market by 2024, growing at the highest CAGR during the forecast period.
The increase in the prevalence of various types of cancers, especially head and neck cancers, cancers of the gastrointestinal system, lung cancer, and liver cancer, is expected to play a major role in the adoption of enteral feeding devices used to provide clinical nutrition to cancer patients.
The home care settings segment is expected to grow at the highest rate during the forecast period.
Hospitals, home care settings, and ambulatory care settings are the major end-user segments in the enteral feeding devices market.The home care settings segment is expected to grow at the highest CAGR during the forecast period.
The increasing pressure on hospitals to curtail soaring healthcare costs, the development and availability of user-friendly feeding devices, and the favorable reimbursement policies for home enteral nutrition (HEN) are some of the key factors supporting the growth of this end-user segment.
APAC is projected to witness the highest growth during the forecast period.
Although North America is expected to account for the largest share of global enteral feeding devices market in 2018, the APAC is expected to witness the highest CAGR during the forecast period.The growth of this market is driven by the rising preterm births, rising aging population, and growing awareness of enteral nutrition.
Key players have shifted their focus to emerging economies in these regions, focusing on expansion and acquisition to garner a greater market share in the upcoming years.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3– 20%
• By Designation: C-level–35%, Director-level–45%, and Others–20%
• By Region: North America–45%, Europe–30%, Asia Pacific–20%, Latin America–3%, and the Middle East & Africa–2%
The prominent players in the enteral feeding devices market are Fresenius Kabi AG (Germany), Avanos Medical, Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Abbott Laboratories (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Medical, Inc. (US), CONMED Corporation (CONMED) (US), Nestlé S.A. (Switzerland), Danone (France), Moog, Inc. (US), Vygon (France), Amsino International (US), and Applied Medical Technology, Inc. (US).
Research Coverage:
The report analyzes the market for various enteral feeding devices and their adoption patterns.It aims at estimating the market size and future growth potential of the enteral feeding devices market and its subsegments.
The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the enteral feeding devices market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the enteral feeding devices market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the enteral feeding devices market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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