Enteral Feeding Device Market worth $2,517.2 Million By 2019
The global enteral feeding device market is expected to reach $2,517.2 million by 2019 from $1,953.6 million in 2014 and, at a CAGR of 5.2% from 2014 to 2019. Enteral feeding device allows for nutrients/medications to be directly delivered to the stomach/intestine of patients through a feeding tube. Enteral feeding is used for patients who are unable to eat normally and have functional gastrointestinal tracks. Enteral feeding is efficient and cost-effective as compared to parenteral nutrition.
The statistics are given by the report ““Enteral Feeding Device Market – Global Forecast & Analysis till 2019”
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In this report, the enteral feeding device market is segmented on the basis of product, stage, end user, application, and region. This report also discusses key market drivers, restraints, opportunities, and challenges for this market and its submarkets.
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An increased number of hospitals and ambulatory care settings are adopting enteral nutrition practices and feeding devices. Technological advances have made these devices user-friendly and safe, to avoid complications, such as misconnections, tube dislodgment, aspiration, and tube blockage. Other technological enhancements include unique connection systems to avoid misconnection of feeding tubes, user-friendly techniques, such as portable feeding pumps, programming options, programmable flushing intervals, multiple languages, occlusion pressure alarm options, history of previous feed rates, and screen and program lock-out features to prevent manipulation.
Technological advances such as such as programming and safety features in feeding pumps, user friendly, and portable feeding pumps are expected to drive the adoption of enteral feeding device in the global clinical nutrition industry.
In 2013, North America accounted for the largest share of the global enteral feeding device market, followed by Europe, Asia-Pacific, and RoW. The high shares of North America and Europe are primarily attributed to the development and adoption of innovative and patient-friendly enteral feeding devices and the presence of major companies in this region, which improves consumer accessibility to enteral feeding devices. Moreover, these countries have a high aging population, which is more susceptible to chronic diseases.
However, the future growth of the enteral feeding device market will be driven by the Asia-Pacific and Latin American regions. As opposed to the North American and European markets, the demand in the APAC and Latin American markets is primarily driven by the growth in the overall healthcare industry. This is mainly attributed to the continuous efforts of Asian economies to develop their healthcare sectors. These economies have modified regulations and monitored the implementation of procedures, policies, and guidelines to promote innovation and commercialization. This is attracting many homegrown entrepreneurs and global leaders to the region.
With the rapid rise in healthcare infrastructure and healthcare expenditure such as India and China and the rising awareness on enteral feeding as a suitable alternative to parenteral nutrition, the markets in these regions has seen a significant upsurge in recent years. Moreover, the large base of preterm births in developing countries and the growing geriatric population in Japan are also likely to fuel the demand for enteral feeding device in these regions in upcoming years.
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Major companies in this market are Fresenius SE & Co. KGaA (Germany), Covidien PLC (Ireland), Abbott Laboratories (U.S.), Halyard Health, Inc. (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), C.R. Bard, Inc. (U.S.), Cook Medical (U.S.), ConMed Corporation (U.S.), Vygon SA (France), and Moog, Inc. (U.S.). Other players include Applied Medical technology, Inc. (U.S.), Danone Group (France), Nestlé S.A. (Switzerland), Amsino International, Inc. (U.S.), and CORPAK MedSystems, Inc. (U.S.).
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