Global Enteral Feeding Devices Market Poised for Growth, Expected to Reach $5.4 Billion by 2027
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LONDON, GREATER LONDON, UK, November 22, 2023 /EINPresswire.com/ -- The global enteral feeding devices market size experienced robust growth, escalating from $3.86 billion in 2022 to $4.13 billion in 2023, marking a significant compound annual growth rate (CAGR) of 7.0%. Despite challenges posed by the Russia-Ukraine war, hindering global economic recovery from the COVID-19 pandemic, the market is poised to continue its upward trajectory, targeting a market size of $5.4 billion by 2027 at a CAGR of 6.9%.
Segments
• By Product: Enteral Feeding Tubes, Enteral Feeding Pumps, Administration Sets, Enteral Syringes, Other Consumables
• By Application: Oncology, Gastrointestinal Diseases, Neurological Disorders, Diabetes, Other Applications
• By End User: Hospitals, Home Care Settings, Ambulatory Care Settings, Other End-Users
• Regional Insights: North America Leads, Asia-Pacific Emerges as Fastest-Growing Market
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Driving Factors: Surge in Preterm Births
A key driver propelling the enteral feeding devices market is the surge in the number of preterm births worldwide. Preterm births, occurring before the 37th week of pregnancy, often necessitate the use of enteral feeding devices to supplement breast milk and provide immediate nutrition to preterm infants. Contributing factors to the increase in preterm births include multiple pregnancies, adolescent pregnancy rates, caesarean deliveries before full-term, unnecessary inductions, infections, and chronic conditions such as diabetes and high blood pressure. Notably, the global preterm birth rate, comprising approximately 11% of total births, underscores the critical role enteral feeding devices play in neonatal care.
Major Players and Market Dynamics
Prominent players in the enteral feeding devices market include Fresenius Kabi AG, Nestle SA, Moog Inc., B.Braun Melsungen AG, Cardinal Health Inc., Danone, Conmed Corporation, Cook Medical, Becton Dickinson and Company, Abbott Laboratories, Boston Scientific, Vygon Group, Amsino International Inc., Applied Medical Technology, Avanos Medical, Fidmi Medical, Vesco Medical, LLC, Dynarex Corporation, Medela Inc., Alcor Scientific, Kimberly-Clark Corporation, Intervene Group Limited, Technopath, Biometrix, Thomas Magnete GmbH, Halyard Health, and Medtronic. These key market players contribute significantly to market growth through product innovation, strategic acquisitions, and a focus on meeting the evolving demands of the healthcare industry.
Trends: Technological Advancements
A notable trend gaining popularity in the enteral feeding devices market is technological advancements. These advancements play a pivotal role in shaping the market landscape as companies introduce new advanced and efficient products. For instance, ENvizion Medical, an Israel-based enteral feeding devices company, developed a feeding tube navigation system called the ENvue system. This system, comprising an electro-mechanical device with embedded software and enteral feeding tubes, facilitates accurate enteral tube placement in adult patients. This innovation, along with others, highlights the industry's commitment to improving patient outcomes through cutting-edge technology.
North America emerged as the largest region in the enteral feeding devices market in 2022, while Asia-Pacific is anticipated to be the fastest-growing market during the forecast period. The global enteral feeding devices market analysis report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, providing comprehensive insights into regional dynamics, market trends, and growth opportunities.
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Enteral Feeding Devices Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Enteral Feeding Devices Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on enteral feeding devices market size, enteral feeding devices market drivers and enteral feeding devices market trends, enteral feeding devices market major players, competitors' revenues, market positioning, and enteral feeding devices market growth across geographies. The enteral feeding devices market report helps you gain in-depth insights on enteral feeding devices market opportunities and enteral feeding devices market strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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