The global market for enteral
feeding devices is expected to reach USD 2,720.8 million by 2020, according to
a new study by Grand View Research, Inc. Growing global base of geriatric
population and increasing prevalence of chronic diseases such as diabetes
mellitus and pre-term births are some key factors expected to drive market
growth over the next six years. The introduction of cost effective, portable
and technologically advanced products such as low profile gastrostomy devices
is also expected to accelerate the market penetration rates of these devices in
emerging Asia Pacific and Latin American markets. Furthermore, the
establishment of initiatives such as Stay Connected 2014 aimed at elevating
user and patient awareness levels and facilitating the use of safety measures
in the enteral feeding process is expected to present significant growth
opportunity for industry participants.
Enteral feeding pumps dominated
the overall market in terms of revenue share on account of their high market
penetration and usage rates, with market revenue estimated at USD 1,115.3
million in 2013 and expected to grow at a CAGR of 6.4% from 2014 to 2020.
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Further key findings from the study suggest:
- Europe was the largest regional market, with estimated revenue of USD 634.2 million in 2013. The presence of high prevalence of diabetes mellitus and other chronic disorders affecting the gastrointestinal system and a large base of geriatric population in this region attributes to its large market share.
- North America followed Europe in terms of revenue share in 2013 at over 30.0%. High patient awareness levels, sophisticated healthcare infrastructure and high healthcare expenditures are some of the factors expected to serve this market as drivers.
- Asia Pacific enteral feeding devices market is expected to exhibit the highest CAGR over the next six years owing to attributes such as the presence of high unmet medical needs, constantly improving healthcare infrastructure and patient awareness levels in countries such as India and China. Its market is expected to grow at a CAGR of 6.7% from 2014 to 2020 to reach USD 770.6 million by 2020.
- The demand for percutaneous endoscopic gastrostomy devices and nasogastric tubes is expected to grow at a CAGR of over 5.6% and 5.2% from 2014 to 2020, respectively. Gastrostomy tube market revenue is expected to reach USD 206.3 million by 2020.
- Key industry participants include Abbott Nutrition, Danone, Nestle, Fresenius, Boston Scientific Corporation, Kimberly Clark Corporation, Covidien Plc and Conmed Corporation.
For the purpose of this study, Grand View Research has
segmented the global enteral feeding devices market on the basis of product and
region:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For More Information, Visit Grand View Research
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Specialist, U.S.A.
Grand View Research,
Inc.
United States
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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