Pune, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Rising Prevalence of chronic diseases and gastrointestinal diseases is contributing to the growth of feeding tubes market says, Fortune Business Insights in a report, titled “Feeding tubes Market Size, Share and Global Trend, By Type (Nasal Tube, Gastric Tube (Or G-Tube), Gj-Tube, Jejunal (J) Tube.) By Age (Pediatric, Adults), By End-user (Hospitals, Clinics, Home Care) By Application (Oncology, Gastroenterology, Diabetes, Others) and Geography Forecast till 2026”. The rising geriatric population and increasing incidence of premature birth are boosting the global market for feeding tubes.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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User-friendly Feeding Tubes Are in High Demand
Feeding tubes are medical tubes primarily used for providing nutrient to patients externally, especially who are unable to swallow food on their own. Gavage or eternal feeding is the term used for the process of feeding patients through the feeding tubes. Numerous medical conditions require eternal feedings such as premature births, neonatal conditions and also patients with chronic diseases.
The use of these tube on patients can be temporary depending on his/her condition. In the case of chronic disease, placement of the feeding tubes is permanent. Feeding tubes are made of silicone or polyurethane which are biocompatible in nature and are inexpensive.
In 2017 Fidmi medial launched a feeding tube which is convenient to insert, cost-effective, and user-friendly. Improvement in feeding tubes is fueling demand among healthcare practitioners and patients which is impacting the global market. According to a survey conducted by the World Health Organization, one out of 10 babies is born prematurely, with an estimation of 15 million premature babies every year. The rising prevalence of premature births is expected to drive the market for feeding tubes in the forthcoming year.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
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Rising Prevalence of Chronic Diseases to Enable Growth in the Market
The rising incidence of chronic diseases such as diabetes, asthma, gastrointestinal diseases and cancer are contributing towards the growth of feeding tubes market. The growing geriatric population and rising prevalence of premature births are some of the major factors responsible for driving the global market and subsequently enabling growth. Development of more disposable and the portable feeding tube also is likely to propel the growth of the global feeding market.
Nonetheless, low reimbursement policies in developing nations, reduced completion among small players, and inadvertent dislodgement of feeding tubes are some of the factors responsible for hampering the growth of the global feeding tubes market. Additionally, leakage of gastric content around feeding tubes is also one of the prime factors, restricting the growth of the global feeding tubes market.
North America to Face Completion with EUROPE
The Global Feeding Tubes market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Presently, North America followed by Europe, is leading the global market for feeding tubes and is predicted to show impressive growth over the forthcoming years. In 2018, North America dominated the global market, owing to the rising number of diabetic patients and the high prevalence of chronic diseases.
The market in Asia Pacific is anticipated to flourish, reporting a high CAGR during the forecast period owing to the rise in malnutrition population and increase in cancer patients.
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List of the major companies that are present in the global Feeding Tubes Market:
- Merck KGaA
- Boehringer Ingelheim International GmbH
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Janssen Pharmaceutical Companies
- GlaxoSmithKline plc
- Vertex Pharmaceuticals Incorporated
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Feeding Tubes Market Segmentations:
By Type
• Nasogastric Feeding Tubes
• Nasojejunal Feeding Tubes
• Gastrostomy Tubes
• Jejunostomy Tubes
By Age
• Pediatric
• Adults
By End User
• Hospitals
• Clinics
• Home Care Settings
By Application
• Oncology
• Gastroenterology
• Neurological disorders
• Others
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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