Enteral Feeding Devices Market Worth 3.19 Billion USD by 2022
PUNE, India, January 5, 2018 /PRNewswire/ --
According to a new market research "Enteral Feeding Devices Market by Type (Feeding Pump, Feeding Tube, Giving Set, Enteral Syringes), Age Group (Adult, Pediatric), Application (Oncology, Gastroenterology, Diabetes), End User (Hospital, Home Care) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to reach USD 3.19 Billion by 2022 from an estimated USD 2.39 Billion in 2017, at a CAGR of 6.0% during the forecast period.
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Browse 281 market data Tables and 48 Figures spread through 304 Pages and in-depth TOC on "Enteral Feeding Devices Market"
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Factors such as the increasing prevalence of chronic diseases, rising geriatric population, rising incidence of preterm births, growing demand for enteral feeding devices in the home care sector, and the shift from parenteral to enteral nutrition are the key drivers of the Enteral Feeding Devices Market. Furthermore, the rising demand for user-friendly feeding devices and technological advancements are contributing to the growth of this market. However, the complications associated with the use of enteral feeding devices and the insufficient reimbursements for enteral nutrition are some of the major challenges currently at play in the market.
By product, the enteral feeding pumps segment accounted for the largest share of the market
On the basis of products, the enteral feeding pumps segment accounted for the largest share of the Enteral Feeding Devices Market, in 2016. This can be attributed to the low risk of complications with the use of feeding pumps, enhanced portable pump designs, and the increasing use of pumps in home care settings.
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The adults segment dominated the market in 2016
Based on age group, the adults segment accounted for the largest share of the Enteral Feeding Devices Market. The large share can be attributed to the increasing incidence and prevalence of chronic diseases like cancer, diabetes, neurological disorders, and inflammatory bowel syndrome that result in malnutrition along with the rapid rise in the aging population.
The oncology segment is expected to grow at the highest CAGR during the forecast period
By application, the Enteral Feeding Devices Market is segmented into oncology, gastroenterology, diabetes, neurology, hyper metabolism, and other applications. The oncology segment is expected to grow at the highest CAGR owing to the increasing incidence and prevalence of cancer across the globe and the need for clinical nutrition in such patients.
Home care settings to grow at the highest CAGR from 2017 to 2022
Based on end user, the home care settings segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to factors such as the increasing focus on minimizing healthcare costs, development of user-friendly and portable feeding devices for home care, and the favorable reimbursement policies for home care.
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North America dominated the market in 2016
North America accounted for the largest share of the Enteral Feeding Devices Market in 2016, followed by Europe. This regional segment shows significant market growth opportunities owing to the high adoption of enteral feeding devices, increasing prevalence of chronic diseases, presence of many large hospitals, and the development of innovative products. Moreover, a number of major global players are based in the US.
The prominent players in the Enteral Feeding Devices Market are Fresenius Kabi (Germany), Halyard Health (US), Medtronic (Ireland), B. Braun (Germany), Abbott (US), C.R. Bard (US), Boston Scientific (US), Cook Medical (US), CONMED (US), Nestlé (Switzerland), Danone (France), Moog (US), Vygon (France), and Applied Medical Technology (US).
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