The latest market report published by Credence Research, Inc. “Global Enteral Feeding Devices Market–Growth, Share, Opportunities, Competitive Analysis and Forecast, 2016–2023, “estimated at USD 2,110.4 million in 2015, is expected to reach USD 3,313.2 million by 2023, with a CAGR of 5.8% from 2016 to 2023.
Market Insights
Enteral feeding refers to the delivery of nutrients or medicine straight into the gastrointestinal tract through a feeding tube, either through the nose or directly into the stomach or small intestine. Enteral feeding is preferred in patients suffering from diseases such as oral cancer, gastrointestinal injuries and disorders etc. which makes them difficult to consume food normally. Medical practitioners suggest that, enteral feeding is necessary only when a patient’s nutritional needs cannot be met orally. The rising geriatric population base, mounting prevalence of diseases such as diabetes, diarrhea, chronic pancreatitis and other gastrointestinal diseases along with high incidences of premature births are some of the key factors assisting the growth of enteral feeding devices market throughout the forecast period.
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Enteral feeding pumps dominated the overall market in terms of revenue share in 2015, due to high usage rates and market penetration observed in developed regions such as North America and Western Europe. In addition, this product segment is expected to grow at the fastest CAGR of 6.1% throughout the forecast period, due to rising demand for enteral feeding pumps and introduction of advanced devices in countries with high unmet medical needs, and developing healthcare infrastructure such as India, China and Brazil.
In 2015, Europe dominated the market due to the existence of modern healthcare infrastructure, the presence of a high level of patient awareness, the increase in the geriatric population base, in particular in the Western European region, the increasing incidence of premature births and the introduction of market support regulations such as the implementation of ISO standards for small bore connector systems. The market for enteral feeding devices in Asia-Pacific is expected to show the highest growth rate of 6.9 percent between 2016 and 2023, due to the existence of high unmet medical needs and the rapidly increasing patient awareness of early diagnosis and rising healthcare expenditure in countries like India and China.
Market Competition Assessment:
The global enteral feeding devices market is oligopolistic in nature with four major players namely Abbott Nutrition, Nestle, Danone and Fresenius accounting more than 70% of the market share by revenue. Abbott Nutrition dominated the market in terms of revenue share in 2015. Some of the other key players of this market include Kimberly Clark Corporation, Conmed Corporation, Covidien Plc, Cook Medical, Amsino International Inc., Boston Scientific Corporation, Moog Inc. and others. In order to consolidate their position and gain market share, the key players in the market are expected to practice series of mergers and acquisitions in the near future.
Key market movements:
The growth of the geriatric population and the high prevalence of chronic diseases requiring enteral feeding are two of the most important growth drivers on this market enteral feeding devices manufacturers invest heavily in researching and developing technologically improved equipment. The high prevalence of pre-term births in emerging economies such as India and China is expected to drive market growth in enteral feeding devices used in the neonatal and premature birth segments.
Browse the full report Enteral Feeding Devices Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at https://www.credenceresearch.com/report/enteral-feeding-devices-market
ToC:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
Chapter 2 Executive Summary
2.1 Global Enteral Feeding Devices Market, by Product Type, 2015 v/s 2023 (Value %)
2.2 Global Enteral Feeding Devices Market, by Geography, 2015 (Value %)
Chapter 3 Global Enteral Feeding Devices Market Overview
3.1 Overview
3.2 Market Drivers
3.2.1 Rising prevalence of chronic diseases in geriatric population is expected to drive the demand for enteral feeding devices
3.2.2 Incessant developments in production of technologically advanced and innovative enteral feeding devices
3.3 Market Restraints
3.3.1 Medical practitioners have expressed concerns related with the complications of small-bore connectors
3.4 Market Opportunities
3.4.1 Development of cost-efficient, high performance, and safe enteral feeding devices
3.5 Attractive Investment Proposition
3.6 Market Competition Assessment: Enteral Feeding Devices, by Key Players
Chapter 4 Global Enteral Feeding Devices Market Analysis, By Product Type
4.1 Overview
4.2 Enteral Feeding Pump
4.3 Nasogastric Tube
4.4 Percutaneous Endoscopic Gastrostomy Device
4.5 Gastrostomy Tube
4.6 Low Profile Gastronomy Device
4.7 Giving Set
……………………toc continued
Browse the full report Enteral Feeding Devices Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at https://www.credenceresearch.com/report/enteral-feeding-devices-market
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