Enteral Feeding Devices Market Worth $2,720.8 Million By 2020: Grand View Research, Inc.
The
global enteral feeding devices market 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.
Enteral
Feeding Devices market revenue share by product, 2012
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
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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-enteral-feeding-devices-market
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.
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