Enteral Feeding Devices Market is predicted to reach growth at CAGR 6.6% by 2030 | FMI
As healthcare infrastructure has improved, life expectancy has raised its bar. While this is welcome news, the rapidly proliferating geriatric population has also led to increased incidence of age-related ailments, both malignant and non-malignant. Conditions such as cancer, multiple sclerosis, dementia and brain damage have increased multifold.
All the aforementioned conditions have a deleterious impact on the patient’s digestive system, causing dyspepsia, throat and mouth pain, diarrhea and IBS. These co-morbidities render it impossible for patients to consume solid food. Hence, healthcare providers are accelerating the adoption of enteral feeding devices and provide adequate nutrients to patients.
Global Enteral Feeding Devices Market– Key Findings
- Enteral feeding devices market to expand at 6.6% CAGR from 2020-2030
- Oncology remains principal application area, neurological disorders to generate green spaces
- Nasoenteric feeding tubes to share the revenue pie with feeding pumps, attributed to effectiveness of nutrient delivery
- Homecare settings garnering major traction due to launch of easy-to-use and consumer friendly devices
- East & South Asia will emerge as potential revenue hotspots during the forecast period
COVID-19’s Impact Analysis
The COVID-19 pandemic has prompted the healthcare industry to run into an overdrive mode, ceaselessly working to find a potential cure for this deadly virus. As the world economy heads toward a recession, the enteral feeding devices market shall remain afloat.
As infected patients experience digestive problems, the demand for alternative food administration sources has risen. This has upticked the deployment of enteral feeding device on an increased frequency. Additionally, vendors are concentrating on strengthening regional distribution networks to ensure uninterrupted supply of equipment to various healthcare settings and organizations.
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Demand across the United States, Brazil and India will especially remain strong, given the fact that these are the worst affected countries, providing immense scope for revenue generation to prominent manufacturers.
“The global enteral feeding devices is in its growth stage, prompting vendors to flood the market with innovative and technologically advanced products, bringing the markets one step closer towards maturity,” infers the FMI analyst.
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Prominent players in the enteral feeding devices market include ICU Medical, Boston Scientific Corporation, Fresenius Kabi, Abbott Laboratories, Cook Medical, Cardinal Health, Inc., Becton Dickinson & Company and Dynarex Corporation among others. Besides this, a number of regional players also dominate the landscape.
In 2014, Cook Medical launched the Entuit Thrive Balloon Retention Gastronomy Feeding Tube for gastronomy and gastropexy procedures. This launch was a part and parcel of the company’s efforts to expand its enteral feeding devices product pipeline.
Boston Scientific Corporation markets a broad range of enteral devices such as the EndoVive Enteral Feeding Tube Kits. To expand its gastroenterology product portfolio, the company announced a limited market release of its Exalt Model-D single-use duodenoscope in January 2020.
In 2016, Cardinal Health launched its Kangaroo Joey Enteral Feed and Flush Pump to expand its adult nasogastric feeding tubes portfolio.
ICU Medical markets the Lopez Valve and EnFit Lopez Valve Closed Enteral Tubes which provide protection from accidental exposure to infectious body fluids to healthcare workers.
More Insights on the Enteral Feeding Devices Market
A recent market study published by FMI on the Enteral Feeding Devices market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report involved detailed segmentation on the basis of product type, application, age-group, end-user and region. Our analysts have conducted thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.
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