The Global Enteral Feeding Devices Market accounted for a market value of USD 1,752 million in 2015 and is expected to reach USD 1,831 million in 2016 and USD 2,285 million by 2021, growing at a CAGR of 4.53% during the forecast period till 2022.
Enteral feeding devices or artificial nutritional support systems are required in medical conditions like swallowing disorders, neurological disorders, mouth malformations (anatomical as well as those developed due to surgery), digestive disorders, malnutrition, and cancer to name a few. With the increase in the average age of the population, worldwide, there would be more old people than the youth. Births during the forecast period, whether normal or pre-term, will also result in increased use of the aids. Existing enteral feeding device manufacturers are beginning to adapt new technology and techniques for patient safety. Usage of unique connection systems, so as to avoid misconnection of feeding tubes, is one such technique that reduces the complications bundled with the use of enteral feeding devices.
Drivers & Restraints:
The rise in geriatric population and increase in the number of pre-term births have increased the target population for the enteral feeding devices. Furthermore, higher prevalence rates of chronic diseases, such as cancer, diabetes, neurological disorders, and gastrointestinal diseases, along with the need for patientsâ€™ ease during hospitalization and recent technological advancements, are some of the major drivers for the growth of enteral feeding devices market. Market restraints include complications associated with the use of these feeding devices, stringent policies for reimbursement in developing and underdeveloped countries, and presence of low-cost local competition.
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Global Enteral Feeding Devices Market Segmentation:
Global enteral feeding devices market is segmented by the type of products into:
Enteral feeding pumps
Enteral feeding tubes
The market is segmented by the stage of life for usage into:
The market is classified by the end users into:
Ambulatory care units
In the product type, the market is majorly dominated by enteral feeding pumps, with more than half of the share belonging to such products. This sub-segment is forecasted to be the fastest-growing among the major five, during the forecasted period. The need for such products is mostly among the geriatrics, who cannot consume food for any possible reason, and the pediatric population. An increasing number of hospitals and ambulatory care settings, which are adopting enteral nutrition as an effective method of clinical nutrition, are boosting the growth of the enteral feeding devices market.
Geographically, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America. North America has the largest market share among all the regions, followed by Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific and Latin America are potential growth markets for the enteral feeding devices, in the years to come. The reason being the presence of an extensive customer base in these regions, due to the rising geriatric population and increased prevalence of chronic diseases and disorders. The current market lacks curative therapy, hence, introducing innovative products and tapping the emerging economy would be great opportunities for the market.
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Some of the largest market players in the enteral feeding devices market include –
B. Braun Melsungen AG
Boston Scientific Corporation
C. R. Bard, Inc.
Cook Medical, Inc.
Fresenius Se & Co. Kgaa
Halyard Health, Inc.
The market is dominated by the major players and more than half the market share is divided among the top five players.