Burlingame, March 20, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, Feeding Tubes Market was valued at US$ 6.34 Billion in the year 2023 and is anticipated to reach US$ 9.69 Billion by 2030, at a CAGR of 6.2% during forecast period 2023-2030.
Market Dynamics:
The feeding tubes market is driven by several factors, including the increasing prevalence of chronic diseases. Chronic diseases such as cancer, neurological disorders, and gastrointestinal disorders often result in patients experiencing difficulty in swallowing or maintaining a healthy diet. This has led to a higher demand for feeding tubes as a means of providing nutrition and medication directly into the stomach or intestines. Additionally, the growing geriatric population, which is more prone to chronic diseases, is also contributing to the market growth.
Furthermore, technological advancements in feeding tube systems are also driving the market. The emergence of minimally invasive procedures and the development of advanced materials for feeding tubes have improved patient comfort and outcomes. These advancements have made feeding tubes a preferred choice for long-term enteral nutrition therapy, further fueling market growth.
Feeding Tubes Market Snapshot:
| Report Coverage | Details | |
| Study Period | 2023 - 2030 | |
| Base Year of Estimation | 2022 | |
| CAGR | 6.2% | |
| Largest Market | North America | |
| Market Concentration | High | |
| Major Players | Boston Scientific Corporation, Vygon, BD, Cardinal Health, Amsino International, Inc., Fidmi Medical, Vesco Medical and Among Others. | |
| Segments Covered | By Product Type, By Age Group, By Application, By Material Type, By End User, By Region | |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends | |
| Growth Drivers | • Increasing prevalence of chronic diseases and conditions • Strong focus on Technological Advancements | |
| Restraints & Challenges | • Lack of awareness among the medical society about enteral feeding devices • High costs of enteral feeding equipment and procedures | |
Key Market Takeaways:
- The feeding tubes market size is anticipated to witness a CAGR of 6.2% during the forecast period 2023-2030, owing to the growing demand for nasogastric tubes and the rising adoption of feeding tubes in the pediatric population.
- On the basis of product type, the nasogastric tubes segment is expected to hold a dominant position, owing to its wide usage in enteral feeding and drug administration procedures in hospitals and home care settings.
- In terms of age group, the adults segment is expected to dominate the market, as feeding tubes are extensively used in adults with chronic diseases such as cancer and diabetes.
- The gastroenterology segment is expected to hold a dominant position in terms of application, due to the high prevalence of gastrointestinal disorders and the need for enteral nutrition in these patients.
- Polyvinyl chloride (PVC) is expected to be the dominating material type, as it is widely used in the manufacturing of feeding tubes for its flexibility, durability, and cost-effectiveness.
- Hospitals are expected to be the largest end-user segment, owing to the high demand for feeding tubes in acute care settings.
- North America is expected to hold a dominant position in the feeding tubes market, due to the presence of a well-established healthcare infrastructure and a high prevalence of chronic diseases.
- Key players operating in the feeding tubes market include Boston Scientific Corporation, Vygon, BD, Cardinal Health, Amsino International, Inc., and Medela AG. These companies are focusing on product innovation and collaborations to expand their market presence.
Market Trends:
One of the key trends in the feeding tubes market is the increasing adoption of home enteral nutrition. Home enteral nutrition allows patients to receive nutrition and hydration support in the comfort of their own homes, leading to improved patient satisfaction and reduced healthcare costs. This trend is driven by the development of compact and portable feeding tube systems that are easier to use and require minimal maintenance.
Another market trend is the growing demand for specialized feeding tubes. Different patient groups, such as infants, children, and adults, often have specific nutritional needs and require specialized feeding tube systems. Manufacturers are developing feeding tubes with various sizes, materials, and features to cater to these specific requirements, thus enhancing patient care and driving market growth.
Recent Developments:
- In October 2021, Applied Medical Technology introduced On-Q Enteral Feeding Pump System for precise delivery of enteral feeding formulations, ensuring safe and accurate feeding.
Read the complete market research report, "Feeding Tubes Market Size And Share Analysis - Growth Trends And Forecasts (2023 - 2030)", Published by CoherentMI.
Market Opportunities:
Growing Demand for Nasogastric Tubes
Nasogastric tubes are expected to dominate the feeding tubes market in terms of product type. This can be attributed to the increasing demand for nasogastric tubes in various medical procedures such as enteral feeding and drug administration. Nasogastric tubes are widely used in hospitals and home care settings to provide nutrition and medication to patients who cannot consume food orally.
The use of nasogastric tubes is also expected to increase due to the rising prevalence of chronic diseases such as cancer, gastrointestinal disorders, and diabetes. These conditions often result in difficulty swallowing or intake of food, making nasogastric tubes a crucial component of patient care.
Rising Adoption of Feeding Tubes in Pediatric Patients
The feeding tubes market is also witnessing significant growth in the pediatric age group segment. This can be attributed to the increasing prevalence of conditions such as congenital anomalies, neurological disorders, and prematurity, which often lead to feeding difficulties in infants and children.
Feeding tubes provide a safe and effective way to deliver nutrition and medication to pediatric patients who are unable to eat or drink normally. The market for feeding tubes in the pediatric age group is expected to witness substantial growth due to the rising incidence of these conditions and the increasing awareness among healthcare professionals about the benefits of enteral nutrition.
In conclusion, the feeding tubes market is expected to witness significant growth in the coming years, driven by the increasing demand for nasogastric tubes and the rising adoption of feeding tubes in the pediatric population. The market is dominated by key players who are investing in research and development and strategic partnerships to gain a competitive edge.
Global Feeding Tubes Market Segmentation:
- By Product Type:
- Nasogastric Tubes
- Gastrostomy Tubes
- Jejunostomy Tubes
- Gastrojejunostomy Tubes
- Low Profile Tubes
- By Age Group:
- Adults
- Pediatrics
- Neonates
- By Application:
- Oncology
- Gastroenterology
- Diabetes
- Hypermetabolism
- Others (Neurological Disorders and Others)
- By Material Type:
- Polyurethane
- Polyvinyl Chloride (PVC)
- Silicon
- Others (Polyethylene, Teflon, etc.)
- By End User:
- Hospitals
- Home Care Settings
- Ambulatory Surgical Centers
- Nursing Facilities
- Others (Long-term Care Facilities and Others)
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
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Top Questions Answered in this Report:
- What factors are impeding the growth of the Feeding Tubes Market?
- What are the primary drivers fueling the growth of the Feeding Tubes Market?
- Which segment dominates as the leading component in the Feeding Tubes Market?
- Who are the key players actively participating in the Feeding Tubes Market?
- Which region is expected to take the lead in the Feeding Tubes Market?
- What is the projected CAGR of the Feeding Tubes Market?
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