Enteral Feeding Devices Market Hits USD 2,720.8 Million by 2020: By Grand View Research, Inc.
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.
Browse full research report on Enteral Feeding Devices
Market: http://www.grandviewresearch.com/industry-analysis/enteral-feeding-devices-industry
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.
Browse More Reports Of This Category By Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
For the purpose of this study, Grand View Research has
segmented the global enteral feeding devices market on the basis of product and
region:
• Enteral Feeding Devices Product
Outlook
• Giving Set
• Enteral Feeding Pump
• Percutaneous Endoscopic Gastrostomy Device
• Low Profile Gastrostomy Device
• Nasogastric Tube
• Gastrostomy Tube
• Enteral Feeding Devices Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
• Giving Set
• Enteral Feeding Pump
• Percutaneous Endoscopic Gastrostomy Device
• Low Profile Gastrostomy Device
• Nasogastric Tube
• Gastrostomy Tube
• Enteral Feeding Devices Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
Comments
Post a Comment