iCrowd Newswire – Sep 30, 2020
The enteral feeding devices market has evolved significantly owing to various technological advancements, such as programming and safety features in feeding pumps as well as user-friendly and portable feeding pumps. Factors such 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 market during the forecast period.
According to the latest research by MarketsandMarkets, “The enteral feeding devices market is projected to reach USD 4.4 billion by 2025 from USD 3.2 billion in 2020, at a CAGR of 6.8% during the forecast period.”
Current Market Opportunities:
1. High Growth Opportunities in Emerging Countries
2. Increasing Prevalence of Chronic Diseases
3. Growing Demand for Enteral Feeding in the Home Care Sector
Market Size Estimation:
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by type, age group, application, end user, and region).
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Based on type, the enteral feeding devices market is segmented into enteral feeding tubes, administration sets, enteral syringes, enteral feeding pumps, and consumables. The enteral feeding tubes segment accounted for the largest share of the enteral feeding devices market. The rising adoption of enteral feeding has resulted in an increase in the demand and uptake of enteral feeding tubes across the globe.
Based on application, the enteral feeding devices market is segmented into oncology gastrointestinal diseases, neurological disorders, diabetes, hypermetabolism, and other applications. In 2019, the oncology segment accounted for the largest share of the enteral feeding market. The oncology segment will continue to dominate the market by 2025, growing at highest CAGR during the forecast period.
Key Questioned Answered in Report:
# Who are the key players in the market and which strategies have they pursued?
# What does the competitive landscape in this market look like?
# What is the strategic analysis of different geographical regions?
# What are the different market opportunities for stakeholders?
Geographical Growth Analysis of Enteral Feeding Devices Market:
The enteral feeding devices market in the Asia Pacific is expected to witness the highest CAGR during the forecast period. Factors such as the increasing number of preterm births, rising geriatric population, growing awareness of enteral nutrition, and the rapid development of healthcare facilities in several APAC countries are driving the growth of this market. Key players have shifted their focus to emerging economies in these regions, and are focusing on expansions and acquisitions to garner a greater market share in the coming years.
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Recent Developments in Enteral Feeding Devices Market:
1. In 2019, Fresenius Kabi completed the expansion of its plant in Aquiraz, Brazil, and increased the facility’s capacity for parental nutrition production by about 30%. The company has invested ~USD 22.4 million (EUR 20 million) for this expansion.
2. In 2018, Fresenius Kabi invested USD 11 million (EUR 9 million) for the expansion of its production facility in the UK, by undertaking the construction of a new distribution and operations center, scheduled to open in 2019. This expansion has been undertaken to meet the increasing demand from the country’s home care market.
3. In 2018, Fresenius Kabi invested over USD 25 million (EUR 20 million) to expand its medical devices production site in Haina, Dominican Republic.
Key Players in Enteral Feeding Devices Market:
The prominent players in this market are Fresenius Kabi AG (Germany), Avanos Medical, Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Abbott Laboratories (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Medical, Inc. (US), CONMED Corporation (CONMED) (US), Nestlé S.A. (Switzerland).
Mr. Ashish Mehra
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Keywords: Enteral Feeding Devices Market, Enteral Feeding Devices Market Size, Enteral Feeding Devices Market Share