Growth of Enteral Feeding Devices Market Shifts to High Gear
OREANDA-NEWS. Enteral feeding is direct nutrient delivery into the stomach of an individual with the employment of a feeding tube. The patients who are unable to consume food normally due to disorders, gastrointestinal injuries, oral cancers, etc. have been fed utilizing enteral feeding devices in order to meet their nutritional requirements. The global enteral feeding devices market stood at US$2 bn in 2012 and is predicted to touch US$3.1 bn by 2019 end, expanding at a 6.20% CAGR from 2013 to 2019.
Transparency Market Research (TMR), a market intelligence company, throws light on the key segments leading the global enteral feeding devices market. It also highlights the sustainability strategies implemented by players for a better penetration into the global enteral feeding devices market.
The globally rising aging population is a prime factor fuelling the growth of this market. This is owing to the fact that the elderly population base will need enteral feeding in times of GI surgeries and illnesses. In addition, the economical costs of enteral feeding devices in comparison with the hospitalization cost will also positively impact the growth of the market. Furthermore, the increasing count of patients suffering from a number of diseases such as GI disorder, neurological disorders, cancers, etc. will also stimulate the development of the market for enteral feeding devices. The growing inclination toward reconstructive surgeries, wherein there is an increased need for enteral feeding will also bring in new opportunities in the development of the overall market.
Q. Which product and geographical segment will fuel the growth of this market and why?
Currently, the global enteral feeding devices market is led by enteral feeding pumps. This segment held a share of 61% in the market in 2011. This is due to the fact that this segment forms a key part of the overall enteral feeding systems and have emerged as the most costly components in the entire system. In addition, this segment is also poised to emerge as the most lucrative segment in the market for enteral feeding devices till 2019 and will exhibit a CAGR of 6.10% between 2013 and 2019. The sub-segment of low-profile gastronomy tubes which falls under enteral feeding pumps, is predicted to rise at a CAGR of 5.50% in the market from 2013 to 2019.
Geographically, North America and Europe collectively held a share of 67% in the market in 2012. However, it is expected that the region of Asia Pacific will exhibit significant growth opportunities in the market in the coming years. This is owing to the enhancement in the healthcare infrastructure and the growing healthcare expenditures in nations such as China and India.
Q. Which sustainability strategies are being implemented by players looking for a better business in the global enteral feeding devices market?
Players such as Nestle, Abbott Nutrition, Fresenius, and Danone held a dominant revenue share in the global enteral feeding devices market. The increasing technological advancements, introduction of numerous improved products, and penetration into developing markets of Latin America and Asia for capitalizing the untapped opportunities have emerged as the top three sustainability and growth strategies implemented by players for expanding their business in the global market.