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Enteral Feeding Devices Market worth $5.2 billion by 2027

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Enteral Feeding Devices Market worth $5.2 billion by 2027

February 09
16:55 2024
Enteral Feeding Devices Market worth $5.2 billion by 2027
The Asia Pacific region is expected to show the highest growth rate during the forecast period. Several factors such as rising geriatric population, increased awareness of and accessibility to advanced healthcare facilities, rising healthcare spending, growing focus of key market players on the emerging Asia Pacific countries, and rapid improvements in the health insurance sector are driving the growth of the Asia Pacific enteral feeding devices market
Fresenius Kabi is one of the top players in the enteral feeding devices market, with a broad product portfolio of feeding pumps, tubes, connectors, and accessories. The company has a strong presence in Europe and in the developing markets of the Asia Pacific region, specifically in China.

Enteral Feeding Devices Market in terms of revenue was estimated to be worth $3.7 billion in 2022 and is poised to reach $5.2 billion by 2027, growing at a CAGR of 6.9% from 2022 to 2027 according to a new report by MarketsandMarkets™. Surging growth in the elderly population; rising healthcare costs; rising prevalence of chronic diseases such as cancer, gastrointestinal diseases, diabetes, and neurological disorders; high number of preterm births and genetic disorders among pediatrics and neonatal populations; rising awareness towards nutritional therapies; and growing improvements in healthcare facilities across emerging countries are driving the growth of the enteral feeding devices market.

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The administration sets is expected to show fastest growth during the forecast period

By type, the enteral feeding devices market is segmented into enteral feeding tubes, enteral feeding pumps, enteral syringes, administration sets, and consumables. Administration sets is expected to show fastest growth during the forecast period. The increasing focus on patient care and product safety has led to the introduction of ENFit Connectors as per the new standards to help reduce the risk of misconnections and safety issues. This, in addition to the growth in the number of patients seeking enteral nutrition across the globe, has spurred the demand for administration sets globally.

Pediatric segment in age group segment is expected to show the fastest growth during the forecast period

Based on age group, the enteral feeding devices market is segmented into adult patients (18 years and above) and pediatric patients (that includes neonates, infants, and children between 2-12 years of age, and adolescents between 12-16 years of age). Pediatric patients segment is expected to show fastest growth rate during the forecast period. Increasing cases of preterm births and genetic disorders among pediatric patients is driving the rapid growth in demand for providing enteral nutrition therapy in pediatric age group segment. Additionally, a growing number of pediatric patients have been diagnosed with conditions often associated with adults in the past, such as diabetes, obesity, and cancer. The increasing prevalence of such diseases among pediatric patients has further increased the demand for medications and nutritional feed delivery systems tailored for this segment.

Oncology segment is expected to account for the largest share in the enteral feeding devices market

In 2020, the oncology segment accounted for the largest share of the enteral feeding devices market, followed by gastrointestinal diseases, neurological disorders diabetes, hypermetabolism, and other applications. The oncology segment will continue to dominate the market by 2026, growing at a CAGR during the forecast period. The increase in the prevalence of various types of cancers—especially head & 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

Home care settings segment to show fastest growth rate in end user segment through 2027

Enteral feeding devices market by end user includes Hospitals, home care settings, and ambulatory care settings. The home care settings segment is expected to show fastest growth rate during the forecast period. Home enteral nutrition (HEN) is used in patients with a functional gastrointestinal (GI) tract and who can receive therapy outside an acute care setting. Due to the increasing pressure on hospitals to curtail the soaring healthcare costs and the COVID-19 outbreak, there has been a shift from extended hospital treatment towards treatment at home. As a result, the demand for home based nutritional care is increasing, which is expected to drive a rapid growth in the home care settings segment through 2027.

Asia Pacific to witness the highest growth rate during the forecast period

By Region, the enteral feeding devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is expected to show the highest growth rate during the forecast period. Several factors such as rising geriatric population, increased awareness of and accessibility to advanced healthcare facilities, rising healthcare spending, growing focus of key market players on the emerging Asia Pacific countries, and rapid improvements in the health insurance sector are driving the growth of the Asia Pacific enteral feeding devices market

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Enteral Feeding Devices Market Dynamics:

Drivers:

1.  Shift from parenteral to enteral nutrition for patients

2.  High incidence of preterm births and genetic disorders in pediatric and neonatal patients

3.  Growing demand for enteral feeding in home care sector

4.  Rapid growth in geriatric population and age-related chronic diseases

5.  Increasing prevalence of dysphagia

Restraints:

1.  Complications associated with enteral feeding devices

Opportunities:

1.  High growth opportunities for market players in developing countries

Challenges:

1.  Insufficient reimbursement policies for enteral nutrition therapy in developing countries

2.  Dearth of skilled professionals and endoscopy specialists

Key Market Players:

The key players operating in the enteral feeding devices market include Nestlé S.A. (Switzerland), Fresenius Kabi (Germany), Cardinal Health, Inc. (US), Avanos Medical, Inc. (US), B. Braun Melsungen AG (Germany), and Becton, Dickinson and Company (US).

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Country: United States
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