Enteral Feeding Devices Market worth USD 5.37 billion in 2028 with a CAGR of 6.38 %

New York, United States, June 15, 2022 (GLOBE NEWSWIRE) -- In 2020, the enteral feeding devices market accounted for up to USD 3.27 billion. It is predicted to expedite at a CAGR of 6.38% to USD 5.37 billion by 2028. The market is primarily augmented by the factors like continuous surge in cases of chronic diseases worldwide, rise of old age population, rapid advancements in the medical tourism sector, rise in preferences for enteral feeding as compared to parenteral feeding, etc.

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Some of the valuable Insights on Enteral Feeding Devices Market are as follows:

• North America significantly dominated the regional market segment with a share of around 33.21% in 2020, whereas the APAC territory was regarded as the fastest growing region with a CAGR of 7.13%.
  
  
• In the Product Type segment, the ‘Enteral Feeding Pumps’ registered the maximum market share of around 37.51% at a CAGR of 6.58% in 2020.
  
  

• Among Age Group, the ‘Adult’ segment led the market growth comprehensively in 2020 with a stable CAGR value of 6.17%.
  
  
• For the Application sector, the ‘Cancer’ segment held the maximum share in 2020 with a CAGR value of 6.89%.
  
  

• In terms of End-User, the ‘Hospital’ sector registered the lion’s share of nearly USD (1.77 billion or 54.12%) of the market in 2020.
  
  

Factors accelerating the market growth:-

• A steep surge in various chronic diseases like obesity, cancer, diabetes, and gastrointestinal diseases is the major factor spearheading the market growth. The National Health Council have reported that around 133 Million individuals or nearly 40.11 % of the total US population are suffering from incurable chronic diseases. Nearly 50% of the adults in US are living with a chronic condition and around 8% of the adolescents and children are suffering from at least one chronic disease.
  
  
• Further, the increase in the preferences of enteral feeding devices as compared to parenteral feeding and the continuous advancements in the Medical Tourism Industry are proliferating the market growth significantly. The USITC have reported that the outbound medical tourists of America constitute nearly 10% of the medical tourists across the world. It also elucidated that around (150 k to 300k) American travellers list healthcare as a primary cause of travelling abroad every year.
  
  

Key Trends & Opportunities of Enteral Feeding Devices Market.

• The APAC territory is expected to yield ample opportunities for growth in the years to come because of its outstanding and diverse healthcare markets, rise in expenditure by the governments to conduct the R&D activities, increase of infectious diseases and chronic disorders, etc. As per a research conducted by Strategic Market Research, it was revealed that chronic diseases affected a large population in China in 2020. Around 500 Million of the Chinese population were suffering from obesity and around 400 Million individuals suffered from high BP.
  
  
• Further, the availability of enteral feeding devices at a lower cost in the countries like China and India will encourage the leading market players to invest in this region in future, thereby fostering the market growth.
  
  

Report furnished by Strategic Market Research (SMR) on Enteral Feeding Devices Market consists of the below mentioned segments:

In terms of Product Type:

• Percutaneous endoscopic gastrostomy device
• Giving set
• Low profile gastrostomy device
• Enteral feeding pumps
• Nasogastric tube
• Gastrostomy tube
• Other products
  
  

Age-Group:

• Pediatric
• Adult
• Geriatric (Old Age)
  
  

For Applications:

• Cancer
• Diabetes
• Neurological Disorders
• Other Applications

In terms of End-User

• Hospitals
• Clinics
• Homecare
• ASC (Ambulatory Surgical Centers)

Regions:

North America

• Canada
• U.S.A
• Mexico
• Rest part of Northern America

Europe

• Greece
• Turkey
• Russian Federation
• Deutschland
• Spain
• Italy
• Poland
• Italy
• Rest part of Europe
  
  

APAC or Asia Pacific

• China
• Republic of India
• South Korea
• Japan
• New Zealand
• Thailand
• Rest part of APAC/Asia Pacific
  
  

LAMEA

• Saudi Arabia
• Brazil
• UAE
• Uruguay
• Argentina
• The rest part of Latin America and Middle East Africa

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In Product Type, the ‘Enteral feeding pumps’ segment accounted for the lion’s share.

For Product Type, the market is classified by (Percutaneous endoscopic gastrostomy device, Giving set, Low profile gastrostomy device, Enteral feeding pumps, Nasogastric tube, Gastrostomy tube and other products). The ‘Enteral feeding pumps’ segment registered the maximum market share of 37.51% at a CAGR of 6.58% in 2020 owing to a surge in usage among the patients suffering from vital micronutrients deficiency worldwide.

For Age-Group, the ‘Adult’ segment registered the highest share in 2020.

Based on Age-Group, the market demarcation is done by pediatric, Adult, and Geriatric (Old Age). The ‘Adult’ segment registered the largest portion of share with a growth rate of nearly 6.17%. The factors propelling the growth of this segment are a deficit of proper nutrition and rise in difficulties to swallow food by the patients globally. A research study has shown that there are around 189,036 Pediatric patients & 248,846 adult patients, worldwide who require enteral feeding tubes which clearly showed that 50% of the patients requiring feeding tubes are adults.

In the Applications sector, the ‘Cancer’ segment acquired the largest market share.

Based on Applications, market bifurcation is performed based on Cancer, Diabetes, Neurological Disorders, and Other Applications. The ‘Cancer’ segment led the market with a growth rate of 6.89% approximately. A through a research study conducted by Strategic market Research revealed that in 2020, the number of cancer patients surged up to 19.3 million worldwide and in USA around 1,806,590 new cases were traced out of which the digestive system cancer was the most common cancer type accounting up to 18.47% of the new cancer cases.

In the End-User sector, the ‘Hospital’ segment continued its dominance.

The End-User, market segregation is performed based on Hospitals, Clinics, Homecare, & ASC (Ambulatory Surgical Centers). The ‘Hospital’ segmentregistered the lion’s share of nearly USD (1.77 billion or 54.12%) of the market in 2020. The higher utilization rate of the feeding tubes because of their larger availability in hospitals is fuelling the growth of the segment.

North America led the regional market segment in 2020.

The North American region significantly spearheaded the market with a share of around 33.21% in 2020 and will continue its dominance era in years to come. The presence of skilled surgeons in the hospitals, growing awareness of enteral feeding device usage, & its early approvals are propelling the growth of this region. A research survey has reported that around 500k people in USA rely completely on enteral feeding tubes and this number is forecasted to rise in due course of time.

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Pertinent market players existing in Enteral Feeding Devices Market:

• CONMED Corporation
• B. Braun Melsungen AG
• Becton, Dickinson, and Company
• Danone S.A.
• Avanos Medical
• Baxter International Inc.
• Nestlé
• Vonco
• Boston Scientific Corporation 
• Cook Medical
• Alcor Scientific
• Cardinal Health Inc.
• Vygon Group
• Fuji Systems Corporation
• Fresenius Kabi
  
  

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Latest Industry news and updates:

• On June 3^rd 2022, BMC Gastroenterology highlighted the necessity of a Foley catheter as a replacement of other catheters used in Stramm gastronomy. This catheter is used as a feeding gastronomy tube especially for those infants who require enteral feeding for a long-term basis and are not capable to maintain a sufficient level of oral intake.
  
  
• On May 16^th 2022, Avanos Medical recalled its Cortrak 2 Enteral Access System. This highly advanced system assists in the placement of a medical feeding tube directly inside a patient’s bowel or stomach with the goal of improving the efficacy and accuracy of the tube’s tip and eradicate the various complications associated with it.
  
  
• On March 29^th 2022, Vonco introduced its direct connect enteral feeding device (EnteraLoc) that won the highest award of achievement in 2022. It is regarded as a medical fluid device that is used for tube feeding of enteral patients. It was the 1^st closed loop solution that combined the nutrition meals with a directly connected ENFit device in a complete enteral feeding system.
  
  

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