Enteral Feeding Devices Market size worth $3.5bn by 2024

Enteral Feeding Devices Market size is estimated to reach USD 3.5 billion by 2024; as per a new research report by Global Market Insights, Inc.

Enteral feeding is a method of delivering nutritionally complete feed, containing carbohydrate, fat, protein, minerals and vitamins directly into the gastrointestinal (GI) tract by use of a tube (tube feeding) connected to an electric pump. Surging geriatric population, rising prevalence of chronic ailments and increasing demand for neonatal and pre-term enteral feeding is anticipated to drive industry growth.

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Introduction of technologically advanced products such as reverse ballon design, tri-funnel replacement G-tube and J-tube will meet different patients’ needs with regards to accuracy, portability and cost effectiveness is expected boost industry growth in coming years.

Implementation of improved reimbursement policies aimed at providing subsidies to these devices and growing market penetration of enteral feeding pumps such as flexiflo quantum, companion enteral nutrition pumps and patrol enteral pump will spur industry growth.

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The risk associated with use of enteral feeding devices includes blockage, nausea, vomiting and diarrhea. Re-feeding syndrome leads to a rapid loss of magnesium, phosphate and potassium, causing severe physiological complications. Contamination of equipment is another common problem associated with its use. The associated risks are expected to impede industry growth during the forecast period.

Europe, led by Germany accounts for the largest industry share in 2015. Growing R&D in advanced enteral feeding devices, increasing prevalence of pre-term births and implementation of industry friendly regulations such as the introduction of ISO standards for small bore connectors should fuel industry growth.

Increasing healthcare expenditure and rising awareness levels in Asia-Pacific and Latin America offer potential opportunities for industry growth. Emerging countries such as India, China and Brazil with their high unmet medical needs, and increased levels of income are expected to drive industry growth in the coming years. Furthermore, higher geriatric population in Japan is anticipated to elevate enteral feeding devices demand.

Key insights from the report include:

• Global enteral feeding devices market size is anticipated to reach USD 3.5 billion by 2024, up from USD 2.08 billion in 2015, and forecasted to grow at a CAGR of 6.1% from 2016 to 2024.

• Enteral feeding pumps grabbed the largest industry share with industry size of over USD 1.2 billion in 2015.

• Europe was valued at USD 724.5 million in 2015, accounting for the majority regional share. The countries such as Germany and UK garnered a share of 28.6% and 21.7% in 2015 respectively.

• The industry has high entry barriers such as strict regulatory guidelines, high cost of product development, making the entry of new players difficult. Moreover, established players employ acquisition, and alliances strategies making it difficult for the new industry players to sustain.

• China, and Japan drive the Asia Pacific industry due to presence of large geriatric patient pool, while LATAM was driven by Brazil and Mexico.

• The industry is oligopolistic in nature with few major players such as Nestle, Fresenius, Abbott Nutrition and Danone attributing to over 75% of industry revenue. Other key industry players Conmed Corporation, Covidien Plc, Boston Scientific Corporation, Cook Medical, Kimberly Clark Corporation, Amsino International Inc., Moog Inc. and others.

Global Market Insights has segmented the enteral feeding devices market on the basis of product, and region:

Global Enteral Feeding Devices Product Analysis (Revenue, USD Million; 2012 - 2024)
• Giving Sets
• Enteral Feeding Pump
• Percutaneous Endoscopic Gastronomy Device
• Low Profile Gastrotomy Device
• Nasogastric Tube
• Gastrotomy Tube

Enteral Feeding Devices Market Regional Analysis (Revenue, USD Million; 2012 - 2024)

• North America
o U.S.
o Canada

• Europe
o Germany
o UK
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India

• Latin America
o Brazil
o Mexico

• MEA
o South Africa

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.