The global enteral feeding devices market is projected to reach USD 3.19 Billion by 2022 from USD 2.39 Billion in 2017, growing at a CAGR of 6.0 percent during the forecast period. Factors such 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 driving the market growth.
The report analyzes the market by product, age group, application, end user, and region. Based on product, the enteral feeding pumps segment accounted for the largest of the market in 2016. This can be attributed to the low risk of complications associated with the use of feeding pumps, enhanced portable pump designs, and the increasing use of pumps in home care settings.
Based on age group, the enteral feeding devices market is segmented into adults and pediatrics. The large share of the adults segment can be attributed to the increasing incidence and prevalence of chronic diseases like cancer, diabetes, neurological disorders, and inflammatory bowel syndrome that result in malnutrition along with the rapid rise in the aging population.
On the basis of application, the oncology segment dominated the market in 2016. The increasing incidence and prevalence of various cancers across the globe is increasing the cases of malnutrition, this, in turn, is propelling the growth of this segment.
Based on end user, the market has been segmented into hospitals, home care settings, and ambulatory care settings. In 2016, the hospitals segment accounted for the largest share of the enteral feeding devices market. The high uptake of these devices for treating undernourished patients that may have impaired immunity, wound healing, and muscle strength in hospitals contribute to its high share.
Geographically, the enteral feeding devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest share of this market. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period of 2017 to 2022. The growth of this segment can be attributed to the rising preterm births, rising aging population, growing awareness of enteral nutrition, and unfulfilled medical needs in emerging economies, with rapid improvisation of healthcare facilities. – Markets and Markets