(PharmaNewsWire.Com, October 01, 2019 ) Growth in Enteral Feeding Devices Market is driven by the rising healthcare costs, surge in the number of preterm births, growth in the aging population, rising prevalence of chronic diseases, growing awareness of enteral nutrition, and improvements in healthcare facilities in emerging countries. Furthermore, the rising demand for user-friendly feeding devices and technological advancements are contributing to the growth of this market.
According to the new market research report "Enteral Feeding Devices Market by Type (Feeding Pump, Feeding Tube, Giving Set, Enteral Syringes), Age Group (Adult, Pediatric), Application (Oncology, Diabetes, Hypermetabolism), End User (Hospital, Home Care) - Global Forecast to 2024", published by MarketsandMarkets™, is projected to reach USD 4.1 billion by 2024 from USD 2.9 billion in 2019, at a CAGR of 6.7%.
By type, enteral feeding tubes dominated the enteral feeding devices market in 2018
Based on type, the market is segmented into enteral feeding tubes, administration sets, enteral syringes, enteral feeding pumps, and consumables. The enteral feeding tubes segment accounted for the largest market share in 2018 due to the high adoption of different tube types, increasing awareness, and a growing demand for enteral feeding across the globe.
Adults accounted for the largest share of the enteral feeding devices market in 2018
Based on age group, the market is segmented into adults (18 years and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). Adults dominated the market, by age group, due to the growing incidence of chronic diseases and disorders in this age group and the rapid increase in the geriatric population.
Oncology formed the largest application segment of enteral feeding devices in 2018
Based on application, the market is segmented into oncology, gastrointestinal disorders, neurological disorders, diabetes, hypermetabolism, and other applications. In 2018, oncology accounted for the largest share of the market due to the increasing prevalence of various types of cancers and the reliance of cancer patients on external nutrition.
North America to dominate the enteral feeding devices market during the forecast period
In 2018, North America dominated the global market, followed by Europe. The large share of North America can be attributed to the high adoption of enteral feeding devices among the aging population, increasing prevalence of chronic diseases, the presence of many large hospitals, a shift from parenteral to enteral feeding, and the development of innovative products. The presence of a large number of global players in this region is another key factor contributing to the large share of this market segment.
Prominent players in the enteral feeding devices market include Fresenius Kabi AG (Germany), Avanos Medical, Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Abbott Laboratories (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Medical, Inc. (US), and CONMED Corporation (CONMED) (US).
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