Newark, NJ, July 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global enteral feeding devices market is expected to grow from USD 2.5 billion in 2019 to USD 4.23 billion by 2027, at a CAGR of 6.8% during the forecast period 2020-2027.
Some of the key factors that drive growth in the enteral feeding devices market are increasing prevalence of chronic diseases like cancer & diabetes, increasing awareness of enteral nutrition, growth in the geriatric population, technological advancements like making the devices more user-friendly, upsurge in the number of preterm births, and healthcare facility improvements in emerging economies like India and China.
Enteral feeding devices are medical devices which are used to feed patients who are bedridden, elderly, or have chronic ailments like cancer, inherited metabolic diseases, gastrointestinal diseases and neurological disorders. It is a safer method of nutrition delivery relative to parenteral feeding, as it avoids any infections, sepsis or disorders. These devices are available in several different sizes, types, and lengths. Enteral feeding tubes can be inserted through a number different of routes, like the nasopharynx by NJ or NG tubes, or through access to the GI tract via the skin, i.e., through enterostomy by J-tubes (jejunostomy tubes) or G-tubes.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the enteral feeding devices market. With less disposable income and broken supply chains, the growth of the market is expected to slow down. Another challenge for the market is the insufficient reimbursement for enteral nutrition in non-developed countries like Nigeria and Syria.
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Key players operating in the global enteral feeding devices market include Boston Scientific, Fresenius Kabi AG, B.Braun Melsungen AG, Cook Medical, Abbott Laboratories, Fidmi Medical, Dynarex Corporation and Becton, Dickinson and Company among others. To gain the significant market share in the global enteral feeding devices market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Fresenius Kabi AG and Boston Scientific are some of the biggest manufacturers and suppliers of enteral feeding devices in the global market.
- In 2018, Fresenius Kabi AG expanded its manufacturing facility in Germany, with an investment of approximately USD 12 million (EUR 10 million) to increase the output of feeding tubes and feeding sets, which are widely used in hospitals.
Enteral feeding tube dominated the market and held the largest market share of 39.23% in the year 2019
The type segment includes enteral feeding tubes, enteral feeding pumps, enteral syringes, administration sets, and other consumables. Enteral feeding tube dominated the market and held the largest market share of 39.23% in the year 2019. The rising prevalence of enteral feeding has contributed to increased demand and the proliferation of enteral feeding tubes worldwide. GEDSA, an international group of enteral feeding tube suppliers, manufacturers, and distributors, has developed new enteral connectors (ENFit) that reduce the occurrence of tubing misconnections and improve patient safety.
Pediatric segment is projected to lead the market and register the highest CAGR during the projected period
The age group segment includes pediatrics (humans between the ages of 0 and 16) and adults (humans over the age of 18). Pediatric segment is projected to lead the market and register the highest CAGR during the projected period. This can be attributed to the rising prevalence of chronic diseases & disorders contributing to malnutrition and the exponential growth of the geriatric population. Although, the adults segment held the majority market share in 2019.
Oncology dominated the market and valued at USD 484.5 million in the year 2019
The application segment includes neurology, hypermetabolism, oncology, gastroenterology, diabetes, and others. Oncology dominated the market and valued at USD 484.5 million in the year 2019. The oncology segment is also expected to grow at the highest rate over the forecast period because of the increasing incidence of various types of cancers like lung cancer, liver cancer, neck cancer, head cancer, gastrointestinal cancer etc.
Homecare is projected to lead the market and register the highest CAGR during the forecast period
The end-user segment includes homecare setting, hospital, and ambulatory care settings. The home care segment is anticipated to grow at the highest rate during the forecast period. Homecare is projected to lead the market and register the highest CAGR during the forecast period. The increasing preference of hospitals to cut healthcare costs, positive reimbursement policies for home enteral nutrition (HEN), and the availability of user-friendly medical devices, are some of the major factors driving the growth of the homecare segment.
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Regional Segment Analysis of the Enteral Feeding Devices Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global enteral feeding devices market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The APAC region is forecasted to be the fastest-growing market. Factors like rapid development of healthcare facilities, rising geriatric population, rising number of preterm births and increasing awareness of enteral nutrition are driving growth in Asia-Pacific. According to the WHO, there were approximately 3.5 million preterm births in India, and 1.71 million preterm births in China from January 2014 to November 2015. On the other hand, North America accounted for the major market share of nearly 40% in the year 2019.
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About the report:
The global enteral feeding devices market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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