DUBLIN--(BUSINESS WIRE)--The "Enteral Feeding Devices Market by Type (Feeding Pump, Feeding Tube, Giving Set, Enteral Syringes), Age Group (Adult, Pediatric), Application (Oncology, Diabetes, Hypermetabolism), End User (Hospital, Home Care) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The enteral feeding devices market is projected to reach USD 4.1 billion by 2024 from USD 2.9 billion in 2019, at a CAGR of 6.7%.
Rising healthcare costs, a growing number of preterm births, rising geriatric population, the increasing prevalence of chronic diseases, and rising awareness of enteral nutrition are expected to drive market growth during the forecast period.
Moreover, the shift from parenteral to enteral nutrition and the growing adoption of - and demand for - enteral feeding devices in-home and ambulatory care settings are also expected to drive the market in the coming years. On the other hand, patient safety risks, the rising cases of feeding and medication errors, and complications associated with enteral feeding tubes such as misconnections, tube dislodgement, and infections are restricting the growth of this market to a certain extent.
The enteral feeding tubes segment is expected to grow at the highest rate during the forecast period
On the basis of type, the enteral feeding devices market segmented into enteral feeding tubes, administration sets, enteral syringes, enteral feeding pumps, and consumables. The enteral feeding tubes segment is projected to witness the highest growth in the enteral feeding devices market during the forecast period. The rising adoption of enteral feeding has resulted in an increase in the demand and uptake of enteral feeding tubes across the globe.
The pediatrics segment is expected to grow at the highest CAGR during the forecast period
Based on age group, the enteral feeding devices market is segmented into adults (18 years and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). The pediatrics segment is expected to register the highest CAGR during the forecast period. The high prevalence of preterm births across the globe is a major factor supporting the growth of this segment.
The oncology segment is expected to grow at the highest CAGR during the forecast period
Based on application, the enteral feeding devices market is segmented into oncology, gastrointestinal disorders, neurological disorders, diabetes, hypermetabolism, and other applications. The oncology segment will continue to dominate the market by 2024, growing at the highest CAGR during the forecast period. The increase in the prevalence of various types of cancers, especially head and neck cancers, cancers of the gastrointestinal system, lung cancer, and liver cancer, is expected to play a major role in the adoption of enteral feeding devices used to provide clinical nutrition to cancer patients.
The home care settings segment is expected to grow at the highest rate during the forecast period
Hospitals, home care settings, and ambulatory care settings are the major end-user segments in the enteral feeding devices market. The home care settings segment is expected to grow at the highest CAGR during the forecast period. The increasing pressure on hospitals to curtail soaring healthcare costs, the development and availability of user-friendly feeding devices, and the favorable reimbursement policies for home enteral nutrition (HEN) are some of the key factors supporting the growth of this end-user segment.
APAC is projected to witness the highest growth during the forecast period
Although North America is expected to account for the largest share of global enteral feeding devices market in 2018, the APAC is expected to witness the highest CAGR during the forecast period. The growth of this market is driven by the rising preterm births, rising aging population, and growing awareness of enteral nutrition. Key players have shifted their focus to emerging economies in these regions, focusing on expansion and acquisition to garner a greater market share in the upcoming years.
The prominent players in the enteral feeding devices 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), Nestle S.A. (Switzerland), Danone (France), Moog, Inc. (US), Vygon (France), Amsino International (US), and Applied Medical Technology, Inc. (US).
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the enteral feeding devices market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the enteral feeding devices market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the enteral feeding devices market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
- Shift From Parenteral to Enteral Nutrition
- Increasing Incidence of Preterm Births
- Growing Demand for Enteral Feeding in the Home Care Sector
- Increasing Prevalence of Chronic Diseases
- Complications Associated With Enteral Feeding Devices
- High Growth Opportunities in Emerging Countries
- Insufficient Reimbursement for Enteral Nutrition
- Dearth of Skilled Professionals
- Abbott Laboratories
- Amsino International, Inc.
- Applied Medical Technology
- Avanos Medical
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Boston Scientific
- Cardinal Health, Inc.
- CONMED Corporation
- Cook Medical
- Fresenius Kabi
- Moog, Inc.
- Nestle S.A.
- Vygon Group
For more information about this report visit https://www.researchandmarkets.com/r/483jvn