Enteral Feeding Devices Market to Reach US$ 5,014.0 Million by 2027 | Covidien (Medtronic Plc), C. R. Bard, Kimberly-Clark Corporation, Qosina Corp

The global enteral feeding devices market was valued at US$ 3,102.0 Mn in 2019 and is forecast to reach a value of US$ 5,014.0 Mn by 2027 at a CAGR of 6.2% between 2020 and 2027.

Increasing number of accidents and growing geriatric population is expected to boost growth of the market in Asia Pacific. For instance, according to National Informatics Center, India recorded a total of 4,67,044 road accidents in 2018. Moreover, according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.

Increasing availability of plant-based enteral formulas is expected to create conducive environment for growth of the market. For instance, in March 2020, Kate Farms announced the publication of new clinical data that demonstrates the efficacy of its plant-based enteral formulas in enhancing gastrointestinal tolerance in a variety of populations and disease states.

Global Enteral Feeding Devices Market: Competitive Landscape

Major players operating in the global enteral feeding devices market include, Covidien (Medtronic Plc), C. R. Bard, Kimberly-Clark Corporation, Qosina Corp., NeoMed, Inc., Fresenius Kabi, Moog Inc., Applied Medical Technology, Corpak Med Systems, and Amsino International.

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Global Enteral Feeding Devices Market: Key Developments

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in December 2019, NeoMed, Inc. received intellectual property protection for its ENFit Low Dose Tip Syringe in the form of US Patent. In May 2019, NeoMed, Inc. launched NeoConnect at Home, a reusable portfolio of ENFit syringes that do not require a physician’s prescription.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018, Medtronic plc entered into a definitive agreement to acquire Nutrino Health Ltd., a leading provider of nutrition-related data services, analytics, and technologies.

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This release was published on openPR.