Speeding at a Steady CAGR, Enteral Feeding Devices Market Grows Due to Rising Trend of Homecare Enteral Therapy
The global enteral feeding devices market is filled with various players on both, regional and international level. As a result of this, the global enteral feeding devices market is anticipated to be very fragmented. To name a few, Moog, Inc., Kimberly Clark, Covidien plc, Applied Medical Technology, Inc., CONMED Corporation, Amsino International, Inc., Boston Scientific are among the most dominant firms in the enteral feeding devices market. These firms account for an edge over their competitors to score their current leading positions. These organizations working consistently on coming up with efficient strategies to achieve the position, including mergers, acquisitions, and collaborations. They are also working upon regressive and intelligent promotional activities.
According to a recent report by Transparency Market Research, the global market for enteral feeding devices is prognosticated to expand at a decent pace with a steady CAGR. The market is expected to grow around worth of US$3.1 bn by the end of 2019.
These days, there are several types of enteral feeding devices present in the market. Among these, the enteral feeding pumps segment is anticipated to experience highest sales in the market. This is majorly due to very negligible amount of risk and complication, increase in their usage in home care settings, and portability. As per the geography, Europe is a leading region in the global market for enteral feeding devices. This is due to significant rise in population in the region in past few years.
Constant Efforts from Manufacturers to Fuel Market Growth
The global enteral feeding devices market is witnessing a major shift owing to the gadgets fast outstripping demand for parenteral gadgets. This is majorly due to the presence of better technologies for example low scale gastrostomy. Moreover, enteral feeding sets and tubes are very affordable, as well. This is another factor propelling the sales of enteral feeding devices market.
Nevertheless, the global enteral feeding devices market is also drawing attention because of the rigorous efforts by the key manufacturers to come up with improved products, with even less complications and side effects. The launch of balloon inflated gastrostomy tubes that allow medicines and food to be directly administered to the patient’s stomach, without requiring them to swallow, bite or chew has supported the uptake in the market.
Rise in number of elderly people all over the world coupled with the growing preference for home care enteral therapy has fueled the global enteral feeding devices market. Rise in cases of premature births which needs feeding of the infants through enteral devices are contributing in the growth of the market as well.
Inconvenient Reimbursement Policies to Hamper Overall Market Growth
However, on the flipside, the market still needs to work upon the complexities arising from enteral nutrition delivery, such as non-obstructive intestinal ischemia, diarrhea, and gastrointestinal complications. Inconvenient reimbursement policies regarding enteral feeding devices is as well hindering demand globally to a large extent. Nevertheless, rising cases of cancers and gastrointestinal disorders are foreseen to help eliminate the setbacks by supporting demand long time.
This analysis is based on a recent market research report by Transparency Market Research, titled, “Enteral Feeding Devices Market (Enteral Feeding Tubes, Enteral Feeding Pumps, Administration Reservoir, Giving Sets and Enteral Syringes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019.”
- Enteral feeding sets and tubes are very affordable, as well. This is another factor propelling the sales of enteral feeding devices market.
- Rise in number of elderly people all over the world coupled with the growing preference for home care enteral therapy has fueled the global enteral feeding devices market.
The global enteral feeding devices market is segmented into the following categories:
- Enteral Feeding Devices Market, by Product Types
- Enteral Feeding Tubes
- Nasoenteric Tubes
- Oroenteric Tubes
- Enterostomy Tubes
- Low Profile Gastrostomy
- Nasoenteric Tubes
- Enteral Feeding Pumps
- Administration Reservoir
- Giving Sets
- Enteral Syringes
- Enteral Feeding Tubes
- Enteral Feeding Devices Market, by Stages
- Enteral Feeding Devices Market, by Geography
- North America
- Rest of the World (RoW)
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