(MENAFN- GlobeNewsWire - Nasdaq) Discover the booming Enteral Feeding Devices Market, projected to grow from USD 4.1 billion in 2023 to USD 6.6 billion by 2031, fueled by a 6.1% CAGR. Explore insights by product type, age group, application, and region in our comprehensive industry forecast!Westford, USA, Oct. 11, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Enteral Feeding Devices market will attain a value of USD 6.6 billion by 2031 , with a CAGR of 6.1% over the forecast period (2024-2031). The growing prevalence of chronic diseases and rising geriatric population are projected to primarily augment the demand for enteral feeding devices over the coming years. Increasing rates of hospitalization and rising complications in chronic and serious patients are also expected to promote enteral feeding devices sales in the future.
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Enteral Feeding Devices Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 4.1 Billion |
| Estimated Value by 2031 | $ 6.6 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Age Group, End User, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Feeding process automation through use of advanced technologies |
| Key Market Drivers | Growing rates of hospitalization and increasing geriatric population |
Market Segmental Analysis
Global Enteral Feeding Devices Market is segmented by Product type, age group, application, end-use, and region.
Based on Product type , the market is segmented into Enteral Feeding Tubes ( Enterostomy Feeding Tubes (Standard Tubes ( Standard Gastrostomy Tubes, Standard Jejunostomy Tubes, Standard Gastrojejunostomy Tubes), Low-profile Tubes ( Low-profile Gastrostomy Tubes, Low-profile Jejunostomy Tubes, Low-profile Gastrojejunostomy Tubes)), Nasoenteric Feeding Tubes ( Nasogastric Feeding Tubes, Nasojejunal Feeding Tubes, Nasoduodenal Feeding Tubes), Oroenteric Feeding Tubes), Enteral Feeding Pumps, Administration Sets, Enteral Syringes, and Consumables.
Based on Age group , the market is segmented into adults, and Pediatric.
Based on Application , the market is segmented into Oncology (Head & Neck Cancer, Stomach & Gastrointestinal Cancer, Liver Cancer, Pancreatic Cancer, Esophageal Cancer, Other Cancer), Gastrointestinal Diseases, Neurological Disorders, Diabetes, Hypermetabolism, Other Applications.
Based on End User , the market is segmented into Hospitals, Home Care Settings, Ambulatory Care Settings.
Based on region , the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Hospitals Projected to Account for a Major Chunk of the Global Enteral Feeding Device Demand Outlook
Increasing numbers of people suffering from chronic diseases are being treated in hospitals and this is why sales of enteral feeding devices in this segment are highest. Rising investments in healthcare infrastructure development and growing rate of hospitalization around the world are also projected to create new opportunities for enteral feeding devices providers in hospitals going forward.
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High Safety of Enteral Feeding Pumps is Driving their Popularity Around the World
Enteral feeding pumps are projected to gain massive popularity as they are highly safe to use and capable of delivering the required nutrition to the patient. As the name suggests, enteral feeding pumps use an electric pump to deliver nutrition directly to the stomach using a tube. Advancements in medical device technology are also expected to help bolster market development via this segment.
Presence of a Large Senescent Population Helps North America Lead Global Enteral Feeding Device Sales
North America is home to a massive geriatric population base, and this is expected to make it the top market for enteral feeding devices companies. The growing need for enteral feeding in home care and hospital care settings in this region is projected to promote sales of enteral feeding devices in the future. Canada and the United States are estimated to be the most opportune markets in the North American region.
Enteral Feeding Devices Market Insights:
Drivers
Growing geriatric population
High prevalence of chronic diseases
Rising rates of hospitalization and growing demand for home healthcare
Restraints
High costs of advanced enteral feeding devices
Lack of awareness regarding enteral feeding devices
Prominent Players in Enteral Feeding Devices Market
Fresenius SE & Co. KGaA Cardinal Health Nestlé S.A. Avanos Medical, Inc. Danone S.A. Becton, Dickinson and Company B. Braun Melsungen AG CONMED Corporation Cook Medical Moog Inc. Boston Scientific Corporation Baxter International Inc. Vygon Applied Medical Technology, Inc. Amsino International, Inc. Danumed Medizintechnik GmbH Medline Industries, LP Fuji Systems Corporation Kentec Medical Dynarex Corporation Vesco Medical, LLC Medela AG Romsons
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Key Questions Answered in Enteral Feeding Devices Market Report
What drives the global Enteral Feeding Devices market growth?
Who are the leading Enteral Feeding Devices providers in the world?
Which region leads the demand for Enteral Feeding Devices in the world?
This report provides the following insights:
Analysis of key drivers (growing senescent population, rising chronic diseases, advancements in medical device technologies), restraints (lack of awareness, high costs of advanced zzz), and opportunities (integration with advanced technologies to automate feeding process), influencing the growth of Enteral Feeding Devices market.
Market Penetration : All-inclusive analysis of product portfolio of different market players and status of new product launches.
Product Development/Innovation : Elaborate assessment of R&D activities, new product development, and upcoming trends of the Enteral Feeding Devices market.
Market Development : Detailed analysis of potential regions where the market has potential to grow.
Market Diversification : Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
Competitive Landscape : Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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