The Global Market for Enteral Feeding Devices is Projected to Reach US$2.2 Billion by 2020
Rising Number of Patients with Chronic Diseases Drive the Global Enteral
Feeding Devices Market, According to a New Report by Global Industry Analysts, Inc.
GIA
announces the release of a comprehensive global report on Enteral Feeding
Devices. The global market for Enteral
Feeding Devices is projected to reach US$2.2 billion by 2020, driven by aging population, rising
number of patient afflicted with chronic medical conditions, and growing use of
enteral nutrition in home care settings.
Enteral nutrition is considered the first choice for
patients with a functional gastrointestinal tract, but who are unable to obtain
sufficient nutrition through the oral route. Patients unable to consume orally
due to chronic illnesses must rely on enteral feeding devices for their
nutritional needs. Enteral feeding devices, comprising flexible tubes and
pumps, are directly inserted into a patient’s stomach or parts of the small
intestine to provide the required nutrition, hydration and medication. Enteral
feeding devices have been playing an important and beneficial role in patients
suffering from medical conditions such as gastrointestinal diseases,
hypermetabolism, AIDS, organ system failure, cancer, diabetes and neurological
diseases among others. Growth in the enteral feeding devices market
worldwide is driven by the rising need for enteral support among the elderly
population, specifically in markets such as the United States, Japan and Europe,
along with the rising number of premature births.
Enteral
Feeding Pumps are witnessing strong growth, supported by improvements in
design and technology of feeding pumps in tune with the evolving needs of
patients and healthcare providers. Rising incidences of chronic disease such as cancer and neurological diseases, not only among
the aging population but also among the younger population have increased the
need for reconstructive surgeries, chemotherapy and radiotherapy procedures,
thereby fuelling demand for enteral feeding devices and products. The market
for enteral feeding devices is also being driven by increasing use of the
devices in home care settings for patients with malnutrition or chronic
illnesses such as cancer, diabetes, and AIDS. Technological advancements focused on the
development of lighter and simpler enteral feeding devices such as tubes and
pumps, and the rise in demand for such devices are anticipated to drive market
growth over the coming years.
As
stated by the new market research report on Enteral Feeding Devices, Europe
represents the largest market worldwide, followed by the United States. Rising
awareness about the advantages of enteral nutrition and the increase in the
region’s geriatric population are contributing towards the demand growth in the
region. Asia-Pacific is forecast to emerge as the fastest growing market with a
CAGR of 7.5% over the analysis period. The region offers huge untapped
potential for growth given the relatively low product penetration rates in
countries such as India and China. Rising disposable incomes, increased
spending on healthcare and improving standards of living represent key factors
that are anticipated to fuel growth in developing markets of Asia-Pacific,
Eastern Europe and Latin America.
Major
players covered in the report include Amsino International Inc., Applied
Medical Technology Inc., Boston Scientific Corporation, C. R. Bard Inc.,
Caesarea Medical Electronics Ltd., Cook Medical Inc., CONMED Corporation,
CORPAK MedSystems Inc., Fresenius KABI AG, Halyard Health Inc., Medela AG,
Medtronic plc, Moog Inc., Nestlé Health Science S.A, Nutricia Advanced Medical
Nutrition, and VYGON SA, among others
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