Jan 21, 2021: Industry Insights
The global enteral feeding devices market size was estimated at USD 1.8 billion in 2013 and is expected to grow at a CAGR of 6.0% over the forecast period. Growing prevalence of chronic diseases such as cancer, diabetes, gastrointestinal, and neurological disorders, rising geriatric population, and increasing number of preterm births are the key factors owing to higher adoption of enteral feeding devices. Introduction of technologically advanced products and increase in awareness about enteral nutrition is also driving demand for such devices. For instance, introduction of new product designs such as tri funnel replacements J-tube and G-tube and reserve balloon designs. In 2015, Halyard Health launched MIC PEG enteral feeding tube kit. Increasing acquisitions and distribution agreements is also one of the key attributes anticipated to drive enteral feeding devices market. In 2014, Medela acquired enteral feeding assets of Acacia, Inc. involved in marketing a line of neonatal feeding devices.
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The expansion of homecare nutrition market and the advantages of enteral nutrition over the parental nutrition is also propelling the market growth. With growing age, the chance of a patient’s predisposition towards Parkinson’s diseases and other neurological disorders increases, and thus is expected to drive the demand for these devices. According to the United Nations World Ageing Population 2015 report, it was estimated that between 2015 and 2030, the number of people aged 60 years and above will grow by 56 percent, from 901 million to 1.4 billion and by 2050, the number is estimated to double its size, reaching about 2.1 billion. The growing demand for comfort during hospitalization is another factor expected to boost up the demand of feeding devices in the market. However, stringent reimbursement policies and complications associated with the use of these devices may hinder the further growth in the market.
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Product Insights
Based on the product types, the market is segmented as enteral feeding pumps, giving sets, gastrostomy tubes, percutaneous endoscopic gastrostomy devices, low profile gastrostomy devices, and nasogastric tubes. In 2013, enteral feeding pumps segment held the largest market share of about 61.5% owing to its increased adoption in North America and Europe. Technological advancements focused on the development of simpler and lighter enteral devices is anticipated to drive demand for enteral tubes and pumps market in the coming years. The nasogastric tube market was another major segment in terms of revenue with a global share of USD 10.8% in 2013. These tubes are the used for enteral feeding or nutrition via the nasal route.
Regional Insight
Europe dominated the market with the maximum share of 34.9% in 2013. Some of the key factors attributing to the market growth include increasing ageing population, growing incidences of pre-term birth, sophisticated healthcare infrastructure, rising R&D activities and implementation of favorable regulations. Asia pacific region is expected to be the fastest growing segment with a CAGR of 6.7% over the forecast period. The region offers huge untapped potential due to low product penetration rate, unmet medical needs, and increasing healthcare expenditure. Emerging economies like India, China and Brazil grows significantly with rising population, growing incidences of chronic diseases, and improving healthcare infrastructure is one of the crucial factors anticipated to boost demand for such devices.
Competitive Insights
Some of the key participants of enteral feeding device market include, Abbott; Nestle; Danone, Inc.; Fresenius SE & Co. KGaA; Kimberly-Clark Corporation; Boston Scientific Corporation; Conmed Corporation; Moog, Inc.; Covidien Plc.; Cook Medical and Amsino International Inc. and others.
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