This report aims to provide detailed insights into the global enteral feeding devices market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Revenue Growth Analysis:
The Enteral Feeding Devices Market is projected to reach $4.9 billion by 2026 from $3.5 billion in 2021, at a CAGR of 6.6% during the forecast period.
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Key Factors Driving Market Growth:
The increasing as rising healthcare costs; surge in the number of preterm births; growth in the aging population; rising prevalence of chronic diseases such as diabetes, cancer, gastrointestinal diseases, and neurological disorders; growing awareness of enteral nutrition; and rapid improvements in healthcare facilities in emerging countries are expected to further drive the enteral feeding devices market during the forecast period. Moreover, the shift from parenteral nutrition to enteral nutrition and growing adoption of and demand for enteral feeding tubes in home and ambulatory care settings are also expected to drive the market in the coming years.
Shift from Parenteral to Enteral Nutrition:
Enteral feeding is the delivery of artificial nutrients or medication through the gastrointestinal tract (including the esophagus, stomach, and the small and large intestine) to the organs. On the other hand, Parenteral feeding uses the central or peripheral veins to intravenously deliver nutrients or medication into the bloodstream with the use of a catheter. Furthermore, the cost of enteral nutrition is lower than parenteral nutrition. The average cost of enteral nutrition per patient per day is about 40% of that of parenteral nutrition. These benefits have led to a significant increase in the adoption of enteral feeding in various treatment regimes.
High Growth Opportunities in Emerging Countries:
The Asia Pacific region is expected to offer potential growth opportunities to market players in the coming years. This can primarily be attributed to the diversified healthcare markets in this region, the growing incidence of infectious and chronic disorders, and increasing R&D initiatives to develop innovative medical technologies. In addition, infrastructural developments in healthcare facilities, increasing healthcare expenditure, and the low-cost manufacturing advantage offered by emerging APAC countries are expected to encourage market players to invest in this region in the coming years.
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North America Region to Dominate The Enteral Feeding Devices Market:
North America, comprising the US and Canada, held the largest share of the enteral feeding devices market in 2020. The market is well-established across North America. Growth in this market is backed by the increasing prevalence of chronic diseases in North America, the presence of many well-equipped hospitals, and the gradual shift from parenteral to enteral nutrition.
Key Players in Enteral Feeding Tubes Market:
The prominent players in the enteral feeding devices market are Becton, Dickinson and Company (US), Danone S.A. (France), CONMED Corporation (US), Cardinal Health Inc. (US), Cook Medical (US), Moog Inc. (US), Fresenius Kabi (Germany), Boston Scientific Corporation (US), Vygon Group (France), Nestlé S.A. (Switzerland), B. Braun Melsungen AG (Germany), Avanos Medical Inc. (US), and Baxter International Inc. (US), and. Other players in the market are Applied Medical Technology (US), Amsino International Inc. (US), Omex Medical Technology (India), Danumed Medizintechnik (Germany), Medline Industries, Inc. (US), Fuji Systems Corporation (Japan), Kentec Medical Inc. (US), Vesco Medical LLC (US), Dynarex Corporation (US), Medela Inc. (Switzerland), Alcor Scientific (US), and Romsons Group of Industries (India).