(PharmaNewsWire.Com, October 17, 2020 ) According to the new market research report "Enteral Feeding Devices Market By Type (Feeding Pump, Feeding Tube, Giving Set, Syringes), Age Group (Adult, Pediatric), Application (Oncology, Diabetes, Hypermetabolism), End User (Hospital, Home Care), COVID-19 Impact - Global Forecast to 2025", published by MarketsandMarkets™, the Enteral Feeding Devices Market is projected to reach $4.4 billion by 2025 from $3.2 billion in 2020, at a CAGR of 6.8% during the forecast period.
The increasing as rising healthcare costs; surge in the number of preterm births; growth in the aging population; rising prevalence of chronic diseases such as diabetes, cancer, gastrointestinal diseases, and neurological disorders; growing awareness of enteral nutrition; and rapid improvements in healthcare facilities in emerging countries are expected to further drive the market during the forecast period. Moreover, the shift from parenteral nutrition to enteral nutrition and growing adoption of and demand for enteral feeding devices in home and ambulatory care settings are also expected to drive the market in the coming years.
Covid-19 Impact on Enteral Feeding Devices Industry:
Due to the COVID-19 outbreak, we are estimating that the major share of the medical devices industry that includes imaging devices, dental care devices, surgical products, and medical supplies among others, which contribute 60-75% of the overall medical devices market will have a stagnant or deep fall in the growth rate in 2020 and couple of quartered from 2021. A new, USD 5-7 billion market opportunity (by 2021) is opening up in the medical devices industry that includes critical care medical devices.
On the other hand, products such as enteral feeding devices, do not show a major revenue shift in 2020 and 2021, as compared to other medical devices such as devices used in the ICUs, CCUs, and emergency department of the hospitals. However, there is an increase in the market for enteral feeding devices with the growing need for nutrition management in COVID susceptible patients. Apart from this, the increasing demand for enteral feeding devices in the home care sector, along with the shift from parenteral to enteral feeding is aiding market growth during this period.
Browse in-depth TOC on "Enteral Feeding Devices Market"
601 – Tables 49 – Figures 451 – Pages
Enteral Feeding Tubes Segment:
The enteral feeding tubes segment accounted for the largest share of the market. The rising adoption of enteral feeding has resulted in an increase in the demand and uptake of enteral feeding tubes across the globe. These device modifications include the use of bright orange or purple tubing (solid and striped), "enteral-only" labels, and manufacturer-specific enteral-only or non-IV compatible connectors.
The oncology segment accounted for the largest share of the enteral feeding market. The oncology segment will continue to dominate the market by 2025, growing at highest CAGR during the forecast period. The increase in the prevalence of various types of cancers—especially head and neck cancers, cancers of the gastrointestinal system, lung cancer, and liver cancer—is expected to play a major role in the higher adoption of enteral feeding devices used to provide clinical nutrition to cancer patients.
Asia Pacific is estimated to be the fastest-growing regional market. Factors such as the increasing number of preterm births, rising geriatric population, growing awareness of enteral nutrition, and the rapid development of healthcare facilities in several APAC countries are driving the growth of this market. Key players have shifted their focus to emerging economies in these regions,and are focusing on expansions and acquisitions to garner a greater market share in the coming years.
The prominent players in Enteral Feeding Devices Market are Fresenius Kabi AG (Germany), Avanos Medical, Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Abbott Laboratories (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Medical, Inc. (US), CONMED Corporation (CONMED) (US), Nestlé S.A. (Switzerland), Danone (France), Moog, Inc. (US), Vygon (France), Amsino International (US), and Applied Medical Technology, Inc. (US).
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