Enteral Feeding Devices Market: Revenue Growth, Key Players,...| MENAFN.COM

Saturday, 22 January 2022 09:25 GMT

Enteral Feeding Devices Market: Revenue Growth, Key Players, Qualitative Analysis, Quantitative Analysis, Forecast 2020-2030


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Enteral feeding devices market was valued at USD 2.58 billion by 2019, growing with 6.7% CAGR during the forecast period, 2020-2026.

Enteral feeding devices market was valued at USD 2.58 billion by 2019, growing with 6.7% CAGR during the forecast period , 2020-2026.

Enteral feeding devices are used to provide nutrition to patients who cannot attain an adequate oral intake from food or who cannot eat or drink safely. The enteral feeding devices are used to optimize nutritional intake thereby, improves nutritional eminence.

Market Dynamics

Rising demand for enteral feeding devices in-home care settings due to the growing demand for a long-term alternative to oral feeding drives the overall enteral feeding devices industry. Additionally, rising adoption of enteral feeding equipment over parenteral nutrition due to its associated benefits in terms of prices and side effects will further augment the industry growth.

Moreover, new product developments by major manufacturers support industry growth to a certain extent. Due to the rising trends of digital platforms, key players are actively involved in developing new and improved products that can be operated digitally. For instance, in December 2017, Nestle introduced a new first of its kind digital platform that monitors child tube-feeding progress. The My Tube Feeding tracker app is designed for caregivers of children that are tube-fed to monitor their child's nutrition and overall growth. Such introductions would, in turn, help companies to attract a large customer base. However, high product costs and complications associated with these devices will hamper market growth.

Product Takeaway

In terms of products, the worldwide  enteral feeding devices market is categorized into enteral feeding pump, percutaneous endoscopic gastrostomy (PEG) device, low profile gastrostomy device, giving set, nasogastric tube, gastrostomy tube, enteral syringe, and consumables. Of these, an enteral pump accounted for the highest revenue share. Its associated benefits in terms of affordability and portability compared to other products support the segment growth.

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Companies are actively involved in new and advanced enteral pumps to attract new customers. For example, an American medical device company, Abbott Nutrition, offers easy to use FreeGo enteral feeding pump. This product is a simple, safe, and easy to use that features with a user-friendly operating system to provide accurate results. On the other hand, PEG devices are growing with a promising CAGR over the study period. Minimal invasive, and cost-effectiveness making this product as a preferred option for long-term enteral feeding over surgical tube placement procedures.

Age Group Takeaway

By Age Group, the global market is categorized into pediatrics and adult. Of these, the adult accounted for the majority of market share in 2019. The surging number of baby boomers coupled with rising product demand among the adult population stimulates the segment growth. For instance, the World Health Organization suggested that the global population aged over 60 years accounts for over 962 million in the year 2017 and expected to reach over 2.1 billion by the year 2050. On the flip side, the pediatric segment is likely to expand at a significant growth rate in the future.

Application Takeaway

Application-wise, the worldwide enteral feeding devices industry is categorized into hyper-metabolism, oncology, neurology, diabetes, and gastroenterology. Of these, the oncology accounted for the majority of market share in 2019 as the number of cancer cases is increasing rapidly worldwide. According to the International Agency for Research on Cancer, in 2018, more than 18 million cancer cases were registered and 9.6 million deaths were reported during the same period. Among different cancer types, lung and breast cancers are the most common types that account for around 12% of total cancer rates. The aforesaid reasons are key factors contributing to the growth of the market. On the other side, diabetes and neurology segments are growing with promising CAGR owing to the rising awareness coupled with favorable government initiatives.

End-Use Takeaway

In terms of end-user, the global enteral feeding devices market is categorized into hospitals, ambulatory care, and home care facilities. Of these, hospitals held the highest market share owing to the high demand for these products. Home care settings are anticipated to grow with the fastest growth rate due to the growing preference for home healthcare.

Regional Takeaway

Regionally, the market is divided into North America , Middle East & Africa, Asia Pacific , Latin America, and Europe . The North America enteral feeding devices market registered the majority of the industry share in 2019. Regional growth is attributed to the rising incidences of chronic diseases coupled with the introduction of new and advanced enteral products. Furthermore, an increasing number of premature births in the region is likely to further strengthen market development in this region. As per the data released by the Centers for Disease Control (CDC), around one in ten infants born prematurely each year in the U.S., and the number is increasing at a rapid pace.

On the other hand, Europe is anticipated to witness significant growth over the forecast owing to the growing elderly population. For instance, in 2019, over 11.5% of the total Europe an population is aged over 60 years thereby, increases the demand for enteral feeding devices.

COVID-19 Impact

The enteral feeding device industry is expected to grow at a promising rate during the sudden outbreak of COVID-19 worldwide. ICU has become overwhelmed with the severe acute respiratory syndrome coronavirus that includes respiratory failure. The need to address the provision of critical care nutrition becomes an integral component of these supportive measures. Thereby, increasing the demand for enteral feeding devices across the globe. The Society of Critical Care Medicine suggests that enteral feeding through feeding nasogastric tube is preferred to the patients of COVID-19 as feeding through nasogastric tubes requires minimal expertise and facilitates earlier initiation of feeding.

Key Vendor Takeaway

The leading players of the global enteral feeding devices market include Danone Medical Nutrition, Fresenius Kabi, Nestle Inc., Abbott Nutrition, Amsino International Inc., Kimberly Clark Corporation, Moog Inc., C. R. Bard, Inc., Boston Scientific Corporation, Cook Medical, and ConMed Corporation.

Companies are actively involved in partnerships, agreements, and the development of new products to capture a large customer base. For Instance, recently, in December 2018, health and nutrition company, Nestle, inaugurated global Nestlé Product Technology Center in New Jersey. This expansion will help the company to strengthen the company's offerings in elevating the power of nutrition in people's lives.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2015 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2026
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL ENTERAL FEEDING DEVICES MARKET KEY PLAYERS

Abbott Nutrition
Amsino International, Inc.
Kimberly Clark
Danone Medical Nutrition
Fresenius Kabi
Nestle Inc.
Moog Inc.
Boston Scientific Corporation
Cook Medical
R.Bard
ConMed Corporation
GLOBAL ENTERAL FEEDING DEVICES MARKET, BY PRODUCT

Enteral Feeding Pump
Percutaneous Endoscopic Gastrostomy Device
Giving Set
Nasogastric Tube
Low Profile Gastrostomy Device
Gastrostomy Tube
Enteral Syringes
Consumables
Others
GLOBAL ENTERAL FEEDING DEVICES MARKET, BY AGE GROUP

Paediatric
Adult
GLOBAL ENTERAL FEEDING DEVICES MARKET, BY APPLICATION

Neurology
Diabetes
Hypermetabolism
Oncology
Stomach & GI Cancers
Liver Cancer
Head & Neck Cancers
Pancreatic Cancer
Esophageal Cancer
Other Cancer
Gastroenterology
Others
GLOBAL ENTERAL FEEDING DEVICES MARKET, BY END USER

Hospitals
Ambulatory Care Settings
Home Care Settings
GLOBAL ENTERAL FEEDING DEVICES MARKET, BY REGION

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


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