Global Nasogastric Stabilization Devices Market: Introduction
- Nasogastric stabilization devices are used to hold aspiration and nasogastric feeding tubes, ensuring their security
- Increase in the number of minimally invasive procedures leading to rise in the use of nasogastric stabilization devices is anticipated to drive the market
Key Drivers of and Opportunities for Global Nasogastric Stabilization Devices Market
- Increase in the prevalence of chronic diseases and inclination toward minimally invasive procedures are factors anticipated to drive the global nasogastric stabilization devices market during the forecast period
- Moreover, surge in the number of elderly people with lifestyle diseases is likely to fuel the global market in the next few years. Furthermore, rising demand for nasogastric stabilization devices is also likely to boost the market in the near future.
- Furthermore, growth of the global nasogastric stabilization devices market can also be attributed to increase in the rate of incidence and prevalence of gastrointestinal diseases. For instance, according to an article published in The New England Journal of Medicine, in 2014, approximately 266,000 new individuals were diagnosed with gastrointestinal cancer and around 18 million endoscopic procedures were performed in the U.S.
- Increase in expenditure on the treatment of gastrointestinal diseases is likely to fuel the global market during the forecast period. For instance, according to an article published in Gastroenterology in United States, the annual expenditure on the treatment of gastrointestinal diseases in the U.S. was US$ 135.9 Bn in 2015.
- Increase in awareness about and prevalence of gastrointestinal diseases and inclination toward minimally invasive procedures in developing regions create lucrative opportunities for the global nasogastric stabilization devices market. For instance, according to Australian Institute of Health and Welfare, in Australia, the total estimated burden of gastrointestinal diseases was distributed evenly between women and men aged 65 years or above in 2011.
- According to Indian Council of Medical Research, in India, approximately 57,394 new cases of stomach cancer were recorded in 2018 and the disease is more prevalent in men
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North America to Hold a Major Share of Global Nasogastric Stabilization Devices Market
- North America is expected to hold a major share of the global nasogastric stabilization devices market between 2019 and 2027, due to increasing health care expenditure, rising prevalence of gastrointestinal diseases, and growing adoption of technologically advanced products in the region. According to an article published in Gastroenterology Journal, around 3.0 million hospital admissions and 54.4 million visits to ambulatory surgery centers for primary diagnosis of gastrointestinal diseases are recorded in the U.S. every year.
- Asia Pacific is expected to hold a considerable share of the global nasogastric stabilization devices market from 2019 to 2027. The market in the region is expected to expand at a rapid pace during the forecast period. Growth of the market in the region can be attributed to surge in the number of elderly people with chronic diseases. Moreover, rise in the number of gastrointestinal procedures in Asia Pacific is projected to fuel the market in the region between 2019 and 2027. According to an article published in Annals of Gastroenterological Surgery, in Japan, approximately 949,824 gastroenterological procedures were performed from January 2011 to December 2012 and, of these, 35.4% procedures were performed on the small intestine and the colon.
- According to an article published in Public Library of Science, between 2011 and 2013, around 2,336 gastrointestinal procedures were performed in Japan
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Key Players Operating in Global Market
Key players operating in the global nasogastric stabilization devices market are engaged in expanding their presence. Demand for nasogastric stabilization devices has increased in developing and developed markets. Market players are adopting the practice of appointing third-party distributors to expand their presence. This has led to surge in the number of distributors and suppliers in emerging markets. Henry Schein, Inc., Medical Monks, Inc., ATC Medical, McKesson Medical-Surgical Inc. are distributors of nasogastric stabilization devices. Leading players operating in the global nasogastric stabilization devices market are:
- Becton Dickinson & Company
- Hollister Incorporated
- Dale Medical Products, Inc.
- BRAIDLOCK Limited
- Zibo Qichuang Medical Products Co., Ltd.
Global Nasogastric Stabilization Devices Market: Research Scope
Global Nasogastric Stabilization Devices Market, by Application
- Salem Sump Tubes
- Levin Stomach Tubes
- Nasoenteric Feeding Tubes
- Nasogastric Intestinal Tubes
Global Nasogastric Stabilization Devices Market, by End-user
- Ambulatory Surgical Centers
Global Nasogastric Stabilization Devices Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.