Data from the company projects the global enteral feeding devices market to hit $5.24 billion by 2030 from $2.99 billion in 2020, exhibiting CAGR of 5.9 percent during the estimate period (2021-2030).
Enteral feeding devices are products used to transport nutrition to individuals who cannot gain nutrition through mouth and are incapable of swallowing securely, or require enteral feeding devices. Enteral feeding also indicates the intake of nutrition through the GI (gastrointestinal) tract. Enteral feeding equipment are employed to provide medicines and nutrition in individuals suffering from chronic ailment such as cancer, gastrointestinal disorder, and malnutrition among others. Being fed via tube permitsthe patients to receive nourishment and keep their gastrointestinal tract operational. Mostly, the enteral feeding devices are employed in CCU (critical care unit), OT (operation theatre), ICU (intensive care unit), and in critically ill persons even at home.
- Integration of safety and programming features within the feeding devices
- Development of portable feeding devices
- Growing number of preterm child birth
- Increasing healthcare expenditure
- Increasing geriatric population
- Increasing prevalence of chronic ailments such as cancer and diabetes
Technological progressions have led to the growth of portable and compact enteral feeding devices, which are built using constituents that circumvent cracking in high-stress usage. Innovative aspects in pumps comprise occlusion compression alarm choices, suitable programming choices, multiple language possibilities, automated flushing intermissions, history of earlier feed rates, and program and screen lock-out option to prevent manipulation. Advances in devices structure according to the demand of healthcare workers and patients and progress in the home-based healthcare industry, permitting enteral feeding of supplements to affected people in home-settings, has augmented the interest in the enteral feeding equipment’s. Moreover, it helps maintain small intestinal and pancreatic functions, shortens healing and recovery duration, decreases the obliteration and wastage of muscles, and declines the risk of contamination and infection. Furthermore, the enteral nutrition costs almost 40% less than the parenteral method; this is a crucial factor that is driving the progress of the industry.
In 2020, North America dominated the global market with a market share of more than 39 percent. The United States represented the highest share in the North America region primarily due to higher healthcare spending, presence of modern healthcare set-up, and availability of latest products. Moreover, growing incidence of lifestyle disorders in the United States and Canada is expected to have positive impact on the industry growth. Europe is expected to account for the second largest share in the enteral feeding devices industry in terms of revenue in 2020. The growth in European countries is attributed to encouraging reimbursement scenario, presence of skilled physicians, high geriatric population, and increasing prevalence of digestive ailments. Asia Pacific is anticipated to grow at the highest CAGR during the projected time-duration majorly due to increasing incidence of cancer and gastrointestinal ailments, high rate of preterm child birth, and increasing number of hospital admissions. Growth in the healthcare expenditure is a major factor that is projected to have optimistic impact on the growth of the target industry in Asian countries.
The major companies functioning in the worldwide enteral feeding devices are Cook Medical, Abott Laboratories, Fresenius Kabi, Halyard Health, Medtronic plc, Moog Inc., Nestle Health Science, VYGON, Danone, Cardinal Health, B.Braun, Boston Scientific Corp., C.R. Bard, and Conmed Corporation, among others. Huge investment in the technological development of enteral feeding devices along with business-related collaborations are the crucial business strategies started by the major players operating in the global enteral feeding devices market.
Based on product type segment, enteral feeding pump segment reported largest revenue in 2020. This is accredited to increasing usage of enteral feeding devices adult and pediatric population. Further, technological advancements in the feeding pumps are expected to boost the growth of the segment in the near future.
On the basis of application, cancer accounted for the weighty share in the target industry. This is due to the high incidence of cancer globally.
Based on end user segment, hospitals accounted for the largest revenue with significant portion in estimate period of time. Factors such as accessibility of latest equipment’s and availability of funds are driving growth of the segment.
Fresenius Kabi and B.Braun are the leading companies contributing significantly to the target industry owing to the launch of various innovative products all around the world.