Enteral Feeding Devices Market size is projected to reach $4.42 billion in 2027

According to a new report published by Report Ocean, titled, "Enteral Feeding Devices Market by Product, Age Group, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2027,"" the global enteral feeding devices market size was valued at $2.82 billion in 2019, and is projected to reach $4.42 billion in 2027, registering a CAGR of 5.5% from 2020 to 2027.

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Enteral feeding is a nutritional therapy that provides nutrients directly in the gastrointestinal tract of patients who are unable to swallow food or who cannot get enough nourishment by eating or drinking. Enteral feeding therapy involves the usage of feeding devices such as pumps and tubes. These medical devices deliver the medications and nutrients directly into the stomach, duodenum, or jejunum via either the nose, mouth, or the direct percutaneous route.

Increase in prevalence of several chronic disorders such as cancer and neurological disorders across the world, surge in the adoption of enteral nutrition, rise in geriatric population, and growth in incidence of malnutrition cases drive the market. However, stringent government regulations and inadvertent dislodgment of tubes leading to accidental disabilities and deaths, impede the enteral feeding devices market growth. Conversely, the development of newer products with lesser side effects and presence of untapped market in the emerging economies are expected to provide lucrative growth opportunities for the market.

The enteral feeding pumps segment accounted for the largest share in 2019 around 35.1%, and is expected to witness fastest growth rate during the forecast period with a CAGR of 6.3%, This is attributed to growing usage of the feeding pumps and lesser side effects as compared to other devices, and is expected to grow at the fastest rate during the forecast period.

The cancer segment is anticipated to record the highest growth at a CAGR of 6.0% during the forecast period, owing to increase in global cancer cases across the globe.

Further, head and neck cancers, cancers of the gastrointestinal system, lung cancer, and liver cancer, are expected to play a major role in the higher adoption of enteral feeding devices used to provide clinical nutrition to cancer patients.

By age group, the pediatric segment is expected to experience the highest growth in the global enteral feeding devices market with a CAGR of 6.0%. This is attributed to high prevalence of preterm births across the globe.

By end user, the hospital is accounted for the largest share in 2019, which was $1,726.16 million. The utilization rate of enteral feeding devices in hospitals is high owing to high availability of these products in hospitals and placement of tubes in hospitals with high success rate. In addition, shift from parenteral nutrition to enteral nutrition are supporting the growth of the hospitals segment. However, the home care segment is expected to grow at a CAGR of 6.1% during the forecast period.

Europe was the leading revenue contributor to the global enteral feeding devices market in 2019, and is expected to dominate the market during the forecast period. This is attributed to early approval of enteral feeding devices and high adoption of enteral feeding pumps in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 6.2% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward safe enteral feedings products.

Key Findings of the Study:

The enteral feeding pumps segment accounted for nearly 37.3% share of the global enteral feeding devices market in 2027.
The adult segment is accounted for the largest share in 2019, which is $ 1,634.19 million, and is expected to grow at $ 2,480.53 million in 2027.
The neurological disorder segment accounted for largest share around 36.4% share of the global enteral feeding devices market in 2019.
North America accounted for around 32.48% share of the global market in 2019.
LAMEA is expected to provide lucrative enteral feeding devices market growth opportunities and grows with the CAGR of 5.7% from 2020to 2027.

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This release was published on openPR.