The Enteral Feeding Devices Market is currently estimated to be worth roughly US$ 2.49 billion, and by 2030, it is expected to grow at a CAGR of 4.7% to reach US$ 3.77 billion.
According to a new market study by Future Market Insights (FMI), the global enteral feeding devices market is forecasted to witness substantial growth in terms of value between 2020 and 2030
According to the US National Library of Medicine National Institutes of Health, over 1 million cases of gastric cancer cases are diagnosed every year. The negative effects of the disease include indigestion, nausea, and abdominal pain, which harden the task of consuming food properly.
As enteral feeding devices belong in administering food, either orally or directly through the small intestine, the demand for these devices is increasing in proportion with the number of cases. In addition to gastric cancer, the increasing incidence of irritable bowel syndrome (IBS), perianal infections, diverticulitis, and hemorrhoids is also positively impacting the demand for enteral feeding devices.
Along similar lines, the burgeoning number of geriatric population is also increasing the demand for enteral feeding devices. The high prevalence of chronic disorders in the aging population makes it difficult to consume food, thus necessitating the adoption of enteral feeding devices.
"While hospitals remain a lucrative end-use segment, manufacturers are focusing on catering to the growing demand in home care settings by maintaining the optimal prices" opines FMI analyst.
Enteral Feeding Devices Market - Key Takeaways
- The global enteral feeding devices market will expand at a healthy CAGR of 6.6% through 2030 and will surge past valuation of US$ 6 Bn.
- Among applications, oncology is expected to drive the majority of demand for the devices as consumption of food naturally becomes onerous due to chemotherapy sessions.
- Feeding pumps are expected to remain the most sought-out product types, gaining traction among more than 6 out of 10 healthcare providers worldwide.
- Nasoenteric tubes are gaining prominence among healthcare institutions, owing to their efficiency in administering nutrients to patients suffering from neurological disorders, dementia, and lateral sclerosis.
- Although hospitals remain the leading end-users, the home care settings segment is forecasted to account for a significant share in the market value.
Enteral Feeding Devices Market - Key Trends
- COVID-19 is expected to catalyze the growth of the market as a result of the infection which includes the patient's ability to ingest solid food, thus asserting medical professionals to administer enteral feeding.
- With the weight of the enteral feeding devices being a major limitation, manufacturers are now focusing on developing lightweight products to transmute the restraint into opportunity.
Enteral Feeding Devices Market - Regional Analysis
- North America and Europe are expected to cumulatively account for nearly 70% of the overall market value, with the former holding 40% of the share.
- The dominance of these regions is attributed to favorable medical policies and the strong presence of market players.
- Asia Pacific is predicted to register tremendous growth on the back of rising healthcare expenditure, the presence of a large patient pool, and a burgeoning number of preterm births.
Enteral Feeding Devices Market - Competitive Landscape
Major market players operating in the market include ICU Medical, Boston Scientific Corporation, Fresenius Kabi, Abbott Laboratories, Cook Medical, Cardinal Health, Inc., Becton Dickinson Company, and Dynarex Corporation among others. Market players are focusing on developing innovative products with low weight to increase portability.
On these lines, Infinity Feeding Pumps launched the Zevex EnteraLite Infinity Feeding Pump, which weighs less than one pound.
Enteral Feeding Devices Market - Taxonomy
- Enteral Feeding Pumps
- Enteral Feeding Tubes
Enterostomy Feeding Tubes
- Standard Tubes
- Standard Gastrostomy Tubes
- Standard Jejunostomy Tubes
- Standard Gastrojejunostomy Tubes
- Low Profile Tubes
- Low-profile Gastrostomy Tubes
- Low-profile Jejunostomy Tubes
- Nasoenteric Feeding Tubes
- Nasogastric Feeding Tubes
- Nasojejunal Feeding Tubes
- Nasoduodenal Feeding Tubes
- Oroenteric Feeding Tubes:
- Administration Sets
- Enteral Syringes
- Neurological Disorders
- Specialty Clinics
- Ambulatory Surgical Centers
- Homecare Settings
- North America
- Latin America
- East Asia
- South Asia
- Middle East Africa
Get Valuable Insights into the Enteral Feeding Devices Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global enteral feeding devices market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the enteral feeding devices market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.