Press release
North America Feeding Tubes Market to Reach USD 1,014.9 Million by 2028; Rapid Shift towards Enteral Feeding to Boost Growth, says Fortune Business Insights™
The North America feeding tubes market is set to gain momentum from the increasing shift of people towards enteral feeding from parenteral feeding because of its several benefits. It promotes the local immune function of the gut and eliminates villous atrophy. Hence, manufacturers nowadays are developing novel products to cater to the high demand. In June 2020, for instance, Applied Medical Technology, Inc. (AMT) introduced AMT ONE Source™, its latest mobile app to offer easy and quick access to the company’s educational materials. This information is given by Fortune Business Insights™ in a new report, titled, “North America Feeding Tubes Market, 2021-2028.” As per the report, the North America feeding tubes market size is expected to grow from USD 516.1 million in 2020 to USD 1,014.9 million in 2028 growing at a CAGR of 7.9% in the forecast period. The market stood at USD 397.0 million in 2019.Request a Sample Copy of the Research Report
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COVID-19 Pandemic: Rising ICU Admissions in 2020 Has Affected Growth Positively
The COVID-19 pandemic affected the North America feeding tubes industry positively in 2020 because of the rising number of ICU admissions. The surging cases of coronavirus resulted in the increasing admission of patients in the ICU, especially in the U.S. These patients require enteral feeding as they are incapable of chewing and swallowing food on their own. We are providing detailed research reports to help you better understand the current scenario of the market.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/north-america-feeding-tubes-market-105112
Segmentation-
Diabetes Segment Generated 13.9%Sharein 2020
Based on the type, the market for North America feeding tubes is divided into nasogastric tube, nasojejunal feeding tube, gastric tube (G tube), jejunostomy tube (J tube), and orogastric tube. By age, it is segregated into pediatric and adult. Based on the application, it is fragmented into diabetes, gastroenterology, oncology, and others. Out of these, the diabetes segment earned 13.9% in terms of the North America feeding tubes market share in 2020. This growth is attributable to the rising prevalence of diabetes in the U.S. requiring enteral feeding. Based on end-users, the market is classified into homecare, specialty clinics, hospitals, and others. Lastly, by geography, it is bifurcated into Canada and the U.S.
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Report Coverage-
We have conducted extensive primary and secondary research to collect data about numerous aspects of the market for North America feeding tubes. We have also conducted interviews with marketing managers, sales managers, product managers, and C-level executives to derive insights, such as raw material supply & demand, application patterns, growth rate, and average pricing.
Drivers & Restraints-
Urgent Need to Feed Children with Chronic Illnesses will Favor Growth
Feeding tubes are gaining more traction from pediatrics. These are considered to be an essential alternative for children living with chronic illnesses. These tubes help them to easily ingest food. But, medical professionals often face various issues, such as tube placement errors during tube feeding. Therefore, several companies present in the North America feeding tubes industry are conducting research and development activities to introduce innovative feeding tube systems.
However, rising number of product recalls on account of manufacturing defects may hamper the North America feeding tubes market growth in the upcoming years. For instance, in July 2020, the U.S. FDA recalled Kentec Medical, Inc.’s Ameritus Medical Products ENFit polyurethane and silicone feeding tubes because of the possibility of breakage or fracture. It would have caused serious health hazards.
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Competitive Landscape-
Key Players Focus on New Product Development to Satiate Demand from Healthcare Sector
The market for North America feeding tubes is partially consolidated with significant companies, such as Becton, Dickinson and Company (BD), B. Braun Melsungen AG, Baxter, and Cardinal Health accounting for the major share. They are majorly focusing on new product development to fulfil the rising demand from the healthcare sector in the U.S. and Canada. Below is one of the latest industry developments:
July 2020: Baxter International Inc. signed an agreement for commercializing the VIPUN Gastric Monitoring System. It possesses a smart enteral feeding tube that can effectively measure stomach motility. This unique feature will aid clinicians in detecting enteral feeding intolerance and make better decisions related to nutrition therapy.
A list of prominent North America feeding tubes manufacturers operating in the market:
Cardinal Health (Ohio, United States)
BD (Becton, Dickinson and Company) (New Jersey, United States)
Braun Melsungen AG (Melsungen, Germany)
Avanos Medical Inc (Georgia, United States)
Baxter (Deerfield, United States)
Vygon SA (Écouen, France)
Applied Medical Technology, Inc. (Ohio, United States)
Other Prominent Players
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About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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