The global enteral feeding devices market size is projected to hit USD 5.24 billion by 2030 from USD 2.99 billion in 2020, exhibiting CAGR of 5.9% during the estimate period 2021 to 2030.
One of the important factors that have augmented requirement for the enteral feeding equipment is raising geriatric populace suffering from neurological ailments for example dementia, stroke, and multiple sclerosis that affects swallowing. Consequently, facility of nutritional support in the form of oral nourishment supplements and enteral nourishment feeding tube alleviates the issue of nutrition discrepancy among the diagnosed people. Moreover, usage of enteral nutrition to care for patients with neck and head cancer, those at greater risk of malnourishment, is among significant factors projected to drive the market for enteral feeding equipment’s. Patients detected with these kinds of cancer usually have abridged oral intake due to throat or mouth pain or trouble in swallowing which results in poor nutritional condition of these patients. Thus, enteral feeding is suggested to sustain the vital nutrients in the body, or to deliver medication and liquids among these individuals.
Crucial factors accountable for market growth are:
COVID-19 Impact on Global Enteral Feeding Devices Market
Due to the COVID-19 pandemic, it has been assessed that the major stake of the medical devices business that comprises dental care devices, imaging devices, medical supplies, and surgical devices amongst others, that grant 60-75% of the total medical devices business, will have a stationary growth or deep drop in the progress degree in 2020 and couple of quarters of 2021. However, a market opportunity of USD 5-7 billion is expected to open up in the health devices industry, by 2021 that consist of critical care medical equipment’s. On the contrary, equipment’s such as enteral feeding devices aren’t expected to exhibit a major revenue swing in 2020 and 2021, when compared with other health devices. Nevertheless, there is a surge in the market for enteral feeding equipment’s with the rising need for diet management in COVID susceptible patients.
Significant Market Trends:
Enteral Feeding Pump Segment Reported Foremost Market Stake in 2020
The enteral feeding pump segment displayed a major share in the worldwide enteral feeding devices market in 2020.Technological advancements in the feeding pumps are expected to boost the growth of the segment in the near future.
Enteral feeding tubes are expected to grow at highest CAGR within the forecast time-duration.
Adults Dominated the Market Revenue by Form in 2020
Enteral feeding devices are required for supplying nutritional supplements in people suffering from cancer and gastrointestinal disorders among other chronic ailments. Moreover, old-aged people suffering from dementia and stroke also require enteral feeding devices.
Cancer Will Dominate the Enteral Feeding Devices Market Revenue By Application
As per WHO (World Health Organization), the number of cancer cases globally reached 19.3 million in the year 2020. With increasing number of cancer cases, the demand for enteral feeding devices is also on the rise.
Hospitals Dominated the Enteral Feeding Devices Market Revenue by End-User
Hospitals segment displayed a major share in the worldwide enteral feeding devices market in 2020 due to factors such as accessibility of latest equipment’s and availability of funds.
North America is Estimated to be the Largest Market for Enteral Feeding Devices
The comprehensive research account covers substantial projections and inclinations of enteral feeding devices throughout chief regions encompassing Africa, Asia Pacific, Europe, Latin America, North America, Middle East, and. By region, enteral feeding devices market is led by North America due to higher healthcare spending, presence of modern healthcare set-up, and availability of latest products. Europe accounted for subsequent highest stake chiefly due to high geriatric population and encouraging reimbursement scenario. Asia Pacific is anticipated to grow at the fastest CAGR majorly due to increasing incidence of cancer and gastrointestinal ailments, high rate of preterm child birth, and increasing number of hospital admissions. Middle East, Latin America, and African region is expected to exhibit note-worthy growth in the projected time-frame.
Top Players contending in the Market:
Leading competitors contending in global enteral feeding devices market are as follows:
In order to well recognize the present status of enteral feeding devices, and policies implemented by the foremost nations, Precedence Research projected the future progress of the enteral feeding devices market. This research report bids quantitative and qualitative insights on enteral feeding devices market and valuation of market size and progress trend for probable market segments.
Major Market Segments Covered:
By Product Type
By Age Group
By End User
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