Enteral Feeding Devices Market to Reach 5.9% Growth by 2030 Print E-mail
By GLOBE NEWSWIRE   
Tuesday, 23 February 2021 04:02

OTTAWA, Feb. 23, 2021 (GLOBE NEWSWIRE)

OTTAWA, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Published Report on “Enteral Feeding Devices Market (By Product Type: Administration Sets, Enteral Feeding Pump, Enteral Syringe, Enteral Feeding Tube, and Others; By Age Group: Pediatrics and Adult; By Application: Gastrointestinal Disease, Cancer, Malnutrition, Neurological Disorder, and Others; By End User: Ambulatory Surgical Center (ASCs), Hospital, Home Care, and Others) - Global Market Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts 2021 - 2030”.

An enteral feeding device can be described as a medical device that is used to transport nutrition to individuals who cannot gain nutrition through mouth and are incapable of swallowing securely, or require enteral feeding devices. Enteral feeding also indicates the intake of nutrition through the GI (gastrointestinal) tract. Enteral feeding equipment is employed to provide medicines and nutrition in individuals suffering from chronic ailment such as cancer, gastrointestinal disorder, and malnutrition among others. Being fed via tube permits the patients to receive nourishment and keep their gastrointestinal tract operational. Mostly, the enteral feeding devices are employed in CCU (critical care unit), OT (operation theatre), ICU (intensive care unit), and in critically ill persons even at home.

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Growth Factors:

Integration of safety and programming features within the feeding devices, development of portable feeding devices, growing number of preterm child birth, increasing healthcare expenditure, and increasing geriatric population are among major factors boosting growth of the global industry. Additionally, increasing prevalence of chronic ailments such as cancer and diabetes is fueling growth of the enteral feeding devices market worldwide. Moreover, rapidly increasing awareness regarding enteral feeding is having positive impact on the growth of global industry. Further, increased focus on the improvement of healthcare infrastructure in developing regions and growing investment by major market players on research and development are other factors to boost growth of the global market during the forecast time frame.

Technological progressions have led to the growth of portable and compact enteral feeding devices, which are built using constituents that circumvent cracking in high-stress usage. Innovative aspects in pumps comprise occlusion compression alarm choices, suitable programming choices, multiple language possibilities, automated flushing intermissions, history of earlier feed rates, and program and screen lock-out option to prevent manipulation. Advances in device structure according to the demand of healthcare workers and patients and progress in the home-based healthcare industry, permitting enteral feeding of supplements to affected people in home-settings, has augmented interest in the enteral feeding equipment. Moreover, it helps maintain small intestinal and pancreatic functions, shortens healing and recovery duration, decreases the obliteration and wastage of muscles, and declines the risk of contamination and infection. Furthermore, the enteral nutrition costs almost 40% less than the parenteral method; this is a crucial factor that is driving the progress of the industry.

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Report Highlights:

  • Based on product type segment, enteral feeding pump segment reported largest revenue in 2020. This is accredited to increasing usage of enteral feeding devices adult and pediatric population. Further, technological advancements in the feeding pumps are expected to boost the growth of the segment in the near future.
  • On the basis of application, cancer accounted for the weighty share in the target industry. This is due to the high incidence of cancer globally.
  • Based on end user segment, hospitals accounted for the largest revenue with significant portion in estimate period of time. Factors such as accessibility of latest equipment’s and availability of funds are driving growth of the segment.
  • Fresenius Kabi and B.Braun are the leading companies contributing significantly to the target industry owing to the launch of various innovative products all around the world.

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Regional Analysis:

In 2020, North America dominated the global market with a market share of more than39%. United States represented the highest share in the North America region primarily due to higher healthcare spending, presence of modern healthcare set-up, and availability of latest products. Moreover, growing incidence of lifestyle disorders in United States and Canada is expected to have positive impact on the industry growth. Europe is expected to account for the second largest share in the enteral feeding devices industry in terms of revenue in 2020. The growth in European countries is attributed to encouraging reimbursement scenario, presence of skilled physicians, high geriatric population, and increasing prevalence of digestive ailments. Asia Pacific is anticipated to grow at the highest CAGR during the projected time-duration majorly due to increasing incidence of cancer and gastrointestinal ailments, high rate of preterm child birth, and increasing number of hospital admissions. Growth in the healthcare expenditure is a major factor that is projected to have optimistic impact on the growth of the target industry in Asian countries.

Key Market Players and Strategies:

The major companies functioning in the worldwide enteral feeding devices are Cook Medical, Abott Laboratories, Fresenius Kabi, Halyard Health, Medtronic, Moog, Inc, Nestle Health Science, VYGON, Danone, Cardinal Health, B.Braun, Boston Scientific, C.R. Bard, and Conmed Corporation among others. Huge investment in the technological development of enteral feeding devices along with business-related collaborations are the crucial business strategies started by the major players operating in the global enteral feeding devices market.

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