Monday, October 3, 2016
Global Enteral Feeding Devices Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2023
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Global Enteral
Feeding Devices Market is Expected to Reach USD 3,313.2 Mn by 2023.
The latest market
report published by Credence Research, Inc. “Global Enteral
Feeding Devices Market - Growth, Share, Opportunities,
Competitive Analysis, and Forecast, 2016 - 2023,” the enteral feeding
devices market was valued at USD 2,110.4 Mn in 2015, and is expected to reach
USD 3,313.2 Mn by 2023, expanding at a CAGR of 5.8% from 2016 to 2023.
Browse
the full report Enteral Feeding Devices Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 report at http://www.credenceresearch.com/report/enteral-feeding-devices-market
Market Insights
Enteral feeding
refers to the delivery of nutrients or medicine straight into the
gastrointestinal tract through a feeding tube, either through the nose or
directly into the stomach or small intestine. Enteral feeding is preferred in
patients suffering from diseases such as oral cancer, gastrointestinal injuries
and disorders etc. which makes them difficult to consume food normally.
Medical practitioners suggest that, enteral feeding is necessary only
when a patient’s nutritional needs cannot be met orally. The rising geriatric
population base, mounting prevalence of diseases such as diabetes, diarrhea,
chronic pancreatitis and other gastrointestinal diseases along with high
incidences of premature births are some of the key factors assisting the growth
of enteral feeding devices market throughout the forecast period.
Enteral feeding
pumps dominated the overall market in terms of revenue share in 2015, due to
high usage rates and market penetration observed in developed regions such as
North America and Western Europe. In addition, this product segment is expected
to grow at the fastest CAGR of 6.1% throughout the forecast period, due to
rising demand for enteral feeding pumps and introduction of advanced devices in
countries with high unmet medical needs, and developing healthcare
infrastructure such as India, China and Brazil.
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In 2015, Europe
dominated the market due to existence of modern healthcare infrastructure,
presence of high patient awareness, mounting geriatric population base
especially in the Western European region, growing incidences of premature
births and the market introduction supportive regulations such as the
implementation of ISO standards for small bore connectors. The Asia Pacific
enteral feeding devices market is expected to exhibit the highest growth rate
of 6.9% from 2016 to 2023 due to the existence of high unmet medical needs
along with swiftly mounting patient awareness levels related with early disease
diagnosis and rising healthcare expenditures in countries such as India and
China.
Market
Competition Assessment:
The global
enteral feeding devices market is oligopolistic in nature with four major
players namely Abbott Nutrition, Nestle, Danone and Fresenius accounting more
than 70% of the market share by revenue. Abbott Nutrition dominated the market
in terms of revenue share in 2015. Some of the other key players of this market
include Kimberly Clark Corporation, Conmed Corporation, Covidien Plc, Cook
Medical, Amsino International Inc., Boston Scientific Corporation, Moog Inc.
and others. In order to consolidate their position and gain market share, the
key players in the market are expected to practice series of mergers and
acquisitions in the near future.
Browse
the full report Enteral Feeding Devices Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 report at http://www.credenceresearch.com/report/enteral-feeding-devices-market
Key Market
Movements:
Growing base of geriatric population coupled with the
presence of high prevalence rates of chronic illnesses requiring enteral
feeding are two of the most significant growth drivers of this market
Enteral feeding devices manufacturers are investing high in
the research and development of technologically enhanced devices
The high prevalence of pre-term births especially in
emerging economies such as India and China is expected to drive market growth
of enteral feeding devices used for neonatal and premature birth segment.
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