Enteral Feeding Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $2,846.7 million by 2020, registering a CAGR of 5.6% during the period 2015-2020. Enteral feeding tube segment would continue to dominate the market throughout the forecast period. Constant technological innovations and emergence of low profile (close to skin) tubes and gastrostomy buttons are the prime growth factors for enteral feeding tube market, the study suggests.
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Enteral feeding is a method of delivering nutrition or medications directly in the stomach or intestine, and is usually recommended for patients suffering from chronic illnesses such as head & neck cancer, dementia and stroke. Increasing incidence of cancer and neurological diseases, growing awareness of enteral feeding and rising adoption of home and hospital enteral feeding devices would considerably drive the market growth.
In 2014, neurological application was the leading segment in the enteral feeding application market mainly due to the established use of enteral feeding devices in CNS and mental health disorders. However, by 2020, cancer is expected to takeover neurological application owing to increasing adoption of enteral nutrition among cancer patients and faster rise in cancer patients.
Key Findings of Enteral Feeding Devices Market:
- The enteral feeding supplies and disposables collectively dominated the overall enteral feeding devices market in 2014 due to recurring sales of disposables such as giving sets and enteral syringes
- Cancer application would exhibit a CAGR of 6.3% over the forecast period – highest among all segments
- Hospital was the leading end-user market segment in 2014
- Adult enteral feeding device segment is projected to grow at a CAGR of 5.4% during 2015 – 2020
North America held a dominant position in the enteral feeding device market in 2014, and is expected to maintain its lead throughout the forecast period. This is mainly due to high per capita spending on clinical nutrition, and well established reimbursement scenario. Europe is the second leading geography due to increasing popularity of enteral feeding among adults and pediatrics and high clinical spending in countries such as Spain, France, Germany and United Kingdom. However, the Asia-Pacific region is estimated to register the fastest growth due to growing awareness of enteral nutrition and increasing disposable income in countries like China and India.
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Key Players of Market:
The key companies profiled in this report include, Medtronic plc, Fresenius SE & Co. KGaA, Halyard Health, Inc., Boston Scientific Corporation, Danone, Nestl S.A., Moog, Inc., B. Braun Melsungen AG, C. R. Bard, Inc. and CONMED Corporation.