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Press Release: Enteral Feeding Devices Market to Reach US$ 5,014.0 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Enteral nutrition, also known as tube feeding, is a technique to deliver nutrients through a tube, if a patient cannot swallow. Depending on the entry point of the tube in the body, enteral nutrition is classified in the following ways: nasogastric tube and gastrostomy or Percutaneous Endoscopic Gastrostomy (PEG) tube.
Statistics:
The global enteral feeding devices market is estimated to account for US$ 5,014.0 Mn in terms of value by the end of 2027.
Global Enteral Feeding Devices Market: Drivers
Increasing geriatric population is expected to propel growth of the global enteral feeding devices market over the forecast period. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Moreover, increasing prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Statistics:
North America held dominant position in the global enteral feeding devices market in 2019, accounting for 33.7% share in terms of value, followed by Europe and Asia Pacific, respectively
Figure 1: Global Enteral Feeding Devices Market Share (%) Value, By Region, 2019
Global Enteral Feeding Devices Market: Restraints
Complications associated with enteral feeding are expected to hinder growth of the global enteral feeding devices market. These complications include, nausea, vomiting, diarrhea, malabsorption, pulmonary aspiration, tube malposition, and tube clogging.
Moreover, bacterial contamination of enteral feed is also expected to limit growth of the market.
Global Enteral Feeding Devices Market: Opportunities
There are no regulatory environment issues associated with the production of enteral nutrition products. Such scenario is expected to offer lucrative growth opportunities for players in the market.
Small bore connectors are expected to have maximum impact on enteral feeding industry in upcoming years, due to increasing number of premature infants in critical care. For instance, according to the World Health Organization’s, February 2018 key facts, every year, an estimated 15 million infants are born preterm worldwide.
Statistics:
The global enteral feeding devices market was valued at US$ 3,102.0 Mn in 2019 and is forecast to reach a value of US$ 5,014.0 Mn by 2027 at a CAGR of 6.2% between 2020 and 2027.
Figure 2: Global Enteral Feeding Devices Market Value (US$ Mn), 2016 - 2027
Market Trends/Key Takeaways
Increasing number of accidents and growing geriatric population is expected to boost growth of the market in Asia Pacific. For instance, according to National Informatics Center, India recorded a total of 4,67,044 road accidents in 2018. Moreover, according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
Increasing availability of plant-based enteral formulas is expected to create conducive environment for growth of the market. For instance, in March 2020, Kate Farms announced the publication of new clinical data that demonstrates the efficacy of its plant-based enteral formulas in enhancing gastrointestinal tolerance in a variety of populations and disease states.
Global Enteral Feeding Devices Market: Competitive Landscape
Major players operating in the global enteral feeding devices market include, Covidien (Medtronic Plc), C. R. Bard, Kimberly-Clark Corporation, Qosina Corp., NeoMed, Inc., Fresenius Kabi, Moog Inc., Applied Medical Technology, Corpak Med Systems, and Amsino International.
Global Enteral Feeding Devices Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in December 2019, NeoMed, Inc. received intellectual property protection for its ENFit Low Dose Tip Syringe in the form of US Patent. In May 2019, NeoMed, Inc. launched NeoConnect at Home, a reusable portfolio of ENFit syringes that do not require a physician’s prescription.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018, Medtronic plc entered into a definitive agreement to acquire Nutrino Health Ltd., a leading provider of nutrition-related data services, analytics, and technologies.
Enteral Feeding Devices to deliver nutrients through a tube to patients who are unable to swallow their food. Enteral nutrition is generally administered to pediatric and geriatric patients using nasogastric tube and gastrostomy or Percutaneous Endoscopic Gastrostomy (PEG) tube. Increasing prevalence of cancer and other chronic diseases is also expected to aid in growth of the market. Moreover, increasing expenditure on gastrointestinal disorders along with rapidly increasing geriatric population is anticipated to assist the growth of the market during the forecast period.
Key features of the study:
Detailed Segmentation:
Table of Contents
*Browse 22 market data tables and 14 figures on “Enteral Feeding Devices Market - Global forecast to 2027”.
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