The global enteral feeding devices market is likely to cross $3 billion by 2024

NEW YORK, July 16, 2019 /PRNewswire/ --

The global enteral feeding devices market is likely to cross $3 billion by 2024, growing at a CAGR of approximately 6% during 2018–2024.

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The rise in the patient population with malnutrition, the high demand for tube feeding among cancer patients, the increased demand for low-profile enterostomy feeding tubes, and high growth opportunities from developing market are some of the prominent factors that will help to boost the enteral feeding devices market.

Technological advancements, development in PEG techniques, and the shift of healthcare provisions from expensive hospital to community settings are also contributing to the significant growth of home enteral tube feeding. Also, the improved quality of feeding devices and innovation will increase their adoption globally during the forecast period.

With artificial nutrition witnessing significant changes and improvements, in terms of usage and adoption, there is a paradigm shift to enteral nutrition (EN) with tube feeding from parenteral nutrition (PN). The growing preference for enteral feeding in several post-operative situations is expected to grow, thereby increasing the usage of tube feeding in several applications.

Globally, the healthcare industry has witnessed a shift in the last decade from hospital-based services to home healthcare services. This trend is increasing the popularly of Home Enteral Nutrition (HEN), which is emerging as the fastest growing segment in healthcare settings. HEN has been recognized as a life-saving procedure for patients that require long-term nutritional support.

The study considers the present scenario of the enteral feeding devices market and its market dynamics for the period 2019?2024. The report covers a detailed overview of several market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. It profiles and examines leading and prominent companies operating in the enteral feeding devices market.

This research report on the enteral feeding devices market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by technology (enteral feeding pumps, enteral feeding tubes, accessories and consumables), end-users (hospitals, ambulatory care facilities, and home care), patients (adults and pediatrics), applications (oncology, gastroenterology, neurology, cardiology and pulmonology, and others), and geography (North America, Europe, APAC, Latin America, and MEA).

Enteral Feeding Devices Market: Segmentation

This market research report includes detailed market segmentation by technology, end-users, patients, applications, and geography. Enteral feeding pumps are dominating the market globally and captured around half of the enteral feeding devices market in 2018. Low risk of complications with the usage of these feeding pumps, technological improvements in feeding designs, and augmented demand for various pumps in ambulatory and home care settings are cohesively contributing to the growth of the segment. Further, the revenue from accessories/consumables is recurring in nature, which is helping vendors to strategize their sales volume and profit margins by expanding their existing accessories/consumables product portfolio. Vendors are thus implementing initiatives such as product bundling strategies to maximize their consumables.

Hospitals emerged as the largest end-user in the enteral feeding devices market in 2018. The increased usage and demand for tube feeding in hospital settings is the primary growth factor of the segment. Ambulatory care facilities are growing significantly and are expected to grow with a healthy CAGR during the forecast period. Several patients are increasingly opting for tube feeding in ambulatory facilities such as nursing homes, acute care centers, and private clinics due to their easy accessibility.

Depending on the age group, the enteral feeding devices market is segmented into adults and pediatrics. The adult segment held the largest share and captured around three-fourths of the market in 2018. The growing prevalence and incidence of chronic diseases such as cancer, neurological disorders, and gastrointestinal(GI) diseases that result in dysphagia and malnutrition in patients, coupled with the growing elderly population can be attributed for the dominant share of this segment. The growing number of preterm births and the increasing incidences of malnutrition among infants and adolescents are fueling the demand for tube feeding in the pediatrics segment. Further, the demand is likely to come majorly from developing and low-income countries, where preterm births, malnutrition among pregnant women and children are relatively higher than in developed countries.

In 2018, the oncology segment dominated the enteral feeding devices market with a share of around 30%. Inncreasing prevalence of cancer is one of the major reasons for the rise in malnutrition, which, is propelling the usage of enteral feeding devices. Increasing incidences of inflammatory bowel disease (IBD), Crohn's disease, ulcerative colitis, short bowel syndrome, acute and chronic pancreatitis, and gastroesophageal reflux disease (GERD) worldwide are majorly contributing to the demand for tube feeding for gastroenterology applications. Further, the neurological segment is likely to grow at a steady pace during the forecast period.

Market Segmentation by Technology
• Enteral Feeding Pumps
• Enteral Feeding Tubes
• Accessories &Consumables

Market Segmentation by End-users
• Hospitals
• Ambulatory Care Facilities
• Home Care

Market Segmentation by Patients
• Adults
• Pediatrics

Market Segmentation by Applications
• Oncology
• Gastroenterology
• Neurology
• Cardiology and Pulmonology
• Others

Enteral Feeding Devices Market: Geography

North America is the major revenue contributor to the global enteral feeding devices market and captured around half of the market in 2018. The region is witnessing steady growth due to the growing geriatric population and increasing prevalence of malnutrition among chronic diseases patients and children.

The enteral feeding devices market in Europe is growing due to the rising prevalence of chronic diseases with malnutrition and dysphagia as comorbidities. Further, APAC is expected to witness the highest growth rate during the forecast period..

Market Segmentation by Geography
• North America
o US
o Canada
• Europe
o France
o Germany
o Italy
• APAC
o China
o Japan
o India
• Latin America
o Mexico
o Brazil
• MEA
o Turkey
o Saudi Arabia

Key Vendor Analysis
The global enteral feeding devices market is fragmented with the presence of several global, regional, and local players offering an array of feeding pumps, feeding tubes, and related accessories/consumables. Key players are pursuing several organic and inorganic growth strategies such as product bundling strategy, acquisition, geographic expansions, product portfolio enhancement, and contract agreements with end-users to garner large shares in the market. Major players are also engaged in strategic acquisitions to improve sales and profit margins. Strategic acquisitions will continue to be an important competitive strategy for key players to expand product offerings, access new technology, or increase market share.

Major Vendors in the Global Enteral Feeding Devices Market:
• Applied Medical Technology
• Avanos Medical
• Braun Melsungen
• Boston Scientific
• Cardinal Health
• Cook Medical
• Danone Nutricia
• Fresenius Kabi
• Nestlé
• Vygon

Other Prominent Vendors in Enteral Feeding Devices Market:
• Abbott
• ALCOR Scientific
• Amsino International
• Angel Electronic Equipment
• Angiplast
• BD
• CONMED
• Degania Silicone
• Erenler Medikal
• Fidmi Medical
• GBUK Enteral
• Jiangsu Kangjin Medical Instrument
• MOOG
• Coop
• Pacific Hospital Supply
• Samtronic
• SecurMed
• Silmag
• Troge Medical
• Vesco Medical
• Wuhan W.E.O. Science & Technology Development

Key Market Insights
• Offers market sizing and growth prospects of the global enteral feeding devices market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the global enteral feeding devices market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the global enteral feeding devices market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the global enteral feeding devices market.

Read the full report: https://www.reportlinker.com/p05796173/?utm_source=PRN

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