PORTLAND, Oregon, July 30, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Enteral Feeding Devices Market, by Product, Age Group, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025," the market was valued at $2,503 million in 2017, and is projected to reach $3,848 million by 2025 at a CAGR of 5.4% from 2018 to 2025.
Enteral feeding is nutritional therapy that provides nutrients directly to gastrointestinal tract in patients who cannot swallow food or who cannot get enough nourishment by eating or drinking. Enteral feeding therapy involves the usage of feeding devices such as pumps and tubes. These medical devices deliver the medications and nutrients directly into the stomach, duodenum, or jejunum via either the nose, mouth, or the direct percutaneous route.
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Increase in prevalence of several chronic disorders such as cancer, neurological disorders across the world, upsurge in the adoption of enteral nutrition, rise in geriatric population, and growth in incidence of malnutrition cases drive the market. However, stringent governmental regulations and inadvertent dislodgment of tubes leading to accidental disabilities and deaths impede the market growth. Conversely, the development of newer products with lesser side effects and presence of untapped market in the emerging economies are expected to provide lucrative growth opportunities for the market.
The enteral feeding pumps segment accounted for the largest share in 2017 owing to growth in usage and lesser side effects as compared to other devices. The enteral syringe segment is expected to grow at the high CAGR from 2018 to 2025.
The neurological disorder segment is the largest application segment in the global enteral feeding device market in 2017 and is estimated to grow at a moderate CAGR during the forecast period. On the other hand, the cancer segment is anticipated to record a highest CAGR during the forecast period.
By age group, the adult segment dominated the global enteral feeding devices market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.
The utilization rate of enteral feeding devices in hospitals is high owing to high availability of these products in hospitals and placement of tubes in hospitals with high success rate. However, the home care segment is expected to grow at a high CAGR during the forecast period.
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Key findings of the study
- The enteral feeding tube segment accounted for nearly one-fifth share of the global enteral feeding devices market in 2017.
- The pediatric segment is expected to grow at a CAGR of 6.5% from 2018 to 2025.
- The gastrointestinal segment accounted for around one-eighth share of the global market in 2017.
- North America accounted for around one-third share of the global market in 2017.
- LAMEA is expected to provide lucrative market growth opportunities and grows with the CAGR of 6.0% from 2018 to 2025.
Europe was the leading revenue contributor to the global enteral feeding devices market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the early approval of enteral feeding devices and high adoption of enteral feeding pumps in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 6.6% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward safe enteral feedings products.
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SOURCE Allied Market Research