Nasogastric Tube Market Essential Business Expansion Strategies and Key Players 2023-2030
Nasogastric Tube refers to a tube that is passed through the nose and down through the nasopharynx and esophagus into the stomach. It is a flexible tube made of rubber or plastic, and it has bidirectional potential. It can be used to remove the contents of the stomach, including air, to decompress the stomach, or to remove small solid objects and fluid, such as poison, from the stomach. An NG tube can also be used to put substances into the stomach, and so it may be used to place nutrients directly into the stomach when a patient cannot take food or drink by mouth. Nasogastric tubes (NGT) still remain the simple and best way for the gastrointestinal tract access. The NGT placing is one of the most commonly performed procedures in emergency medical cases. NG tube passes through the nose and down the nasopharynx and esophagus into the stomach. The tube can be used to remove the contents of the stomach and deliver the important nutritional and medicinal support to ill patients. Premature and sick babies have a limited supply of energy and nutrients. The NG tubes deliver the nutrients and medicinal support in these emergency cases. Moreover, many critical conditions associated with swallowing disorders such as dementia, amyotrophic lateral sclerosis, neurological diseases, physical obstruction, and stroke require NG tubes to provide nutritional and medicinal support for ill patients.Upstream and downstream interactions will lead to disruption of businessThe epidemic will have a short-term impact on nasogastric tube industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in nasogastric tube industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business. Apart from this, the COVID-19 outbreak has resulted in the closing down of several manufacturing facilities across the globe. The pandemic caused huge revenue losses in end-use industry. The coronavirus lockdown put a brake on the production of several key raw materials in the global market, which, in turn, spiked the prices and lowered the demand for the product. The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the nasogastric tube market share. In addition, nasogastric tube manufacturers are drawing up plans for the international market as a new supply link in the global nasogastric tube industry, as companies look to re-engineer supply chains in the aftermath of COVID-19. Also, it is expected that the product demand in end-user sectors could pick up following the uplift of the lockdown in numerous countries.Affect the normal operation of the industryThe impact of COVID-19 on the nasogastric tube industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises. Although various industries around the world are gradually resuming work, production and demand will not pick up rapidly and substantially, and will require a certain recovery period.StrengthThe global nasogastric tube market is foreseen to attain growth while riding on increasing chronic disease rates, rise in the number of preterm births, and expanding geriatric population base. Factors driving the growth of the market are; growing demand from nutritional support to children and adult patients and increasing number of hospitalized pediatric and geriatric patients. Moreover, increasing number of premature baby births and growing number of neck and facial surgeries is further propelling the market growth. The demand for nasogastric tubes will spur over the forthcoming years owing to rising incidence of chronic diseases. The most common enteral feeding tube used in hospitalized children is a nasogastric tube that is placed through the nostril, through the esophagus and finally into the stomach. Pediatric and geriatric hospitalized patients constantly require a nasogastric tube embedded for the purpose of controlling enteral feeding, medications or for gastric decompression. Thus, the growing number of hospitalizations among pediatric and geriatric population base will offer lucrative opportunities for nasogastric tube market growth in the projected timeframe.WeaknessDevelopmental delays and side effects such as skin irritation, tube dislocation, tube perforation, gagging, and retching could negatively affect market growth for nasogastric tube. Moreover, concerns regarding side effects such as skin irritation, abdominal cramping, and tube dislocation may hamper the market growth to some extent.Restrains including occurrence of skin irritation and infections due to nasogastric procedures caused by improper sterilization, tube dislocation can impede the market growth. Barriers such as vigorous suction due to nasogastric tubes, that may damage the gastric mucosa and cause significant bleeding, interferes with the endoscopic assessment and diagnostic procedures. Furthermore, skin irritation and infections caused by nasogastric procedures due to improper sterilization may restrain the demand for nasogastric tubes. Furthermore, high intensity of suction of these tubes during removal of gastric wastes can potentially damage gastric mucosa and result into bleeding would bean other hampering factor for the nasogastric tubes market.
Nasogastric Tube market reached a value of USD 267.76 million in 2022. It's expected that the market will achieve USD 332.77 million by 2028, exhibiting a CAGR of 3.69% during the forecast period.
A thorough understanding of the Medical Devices sector and its commercial potential is the aim of the market study. The Nasogastric Tube Market Report has 116 pages and has a detailed table of contents, a list of data, tables, and charts, along with an in-depth analysis.
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Leading Players in the Nasogastric Tube Industry:
Q Holding Company
Pacific Hospital Supply
Guangdong Baihe Medical Technology
GBUK Group Ltd
To preserve their position, these big corporations relied on primary growth tactics such as product portfolio expansion, current trends, financing, mergers and acquisitions, partnerships, new product invention, and geographical development.
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Key Factors Considered:
COVID-19 - Amid the COVID-19 crisis, the Nasogastric Tube market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research. The epidemic is still causing tremendous disruption in industries throughout the world. We've been tracking the direct and indirect consequences of the COVID-19 outbreak on the Nasogastric Tube market. To Know How Covid-19 Pandemic will Impact this Industry - https://www.precisionreports.co/enquiry/request-covid19/22903650
Regional Conflict / Russia-Ukraine War - The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it's going to evolve in the years to come.
Challenges & Opportunities - Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.
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Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today's businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Precision Reports is the credible source for gaining the market reports that will provide you with the lead your business needs.
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