September 25, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Enteral Feeding Devices Market Growth 2019-2024’, the worldwide enteral feeding devices market is predicted to exceed US $3440 million by the year 2024.
Enteral feeding device is a medical equipment which is used in delivering medications or nutrition directly in the intestine or stomach. The device is generally used to feed specialized diets in bedridden or elderly patients suffering from chronic diseases. Growing geriatric population, rise in the number of patients, advancements in technology and increasing instances of chronic ailments will drive enteral feeding devices market growth.
The worldwide enteral feeding devices market is analyzed on the basis of product type, application spectrum and regional outlook. Considering the product type, the market is segmented as consumables, enteral feeding tubes, and enteral feeding pumps.
Speaking of the application spectrum, the market is fragmented as home care and hospitals, wherein hospitals segment dominated the enteral feeding devices market with 65% share in 2017. While homecare segment is presumed to register the highest growth rate of over 8% over the forecast period, cites the report.
Based on the regional outlook, enteral feeding devices market is bifurcated into four major regions which are Americas, Asia Pacific, Europe, and Middle East & Africa. Europe dominated the market with 44% consumption share in 2017, followed by North America with 32% share in the same year.
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According to the report, the global enteral feeding devices market was worth US $2690 million in 2019 and is anticipated to record a growth rate of 5.1% CAGR by the year 2024. The study also offers extensive insight regarding the consumer spectrum, drivers, distributor channels, marketing strategy, trends and challenges impacting the market growth.
Prominent companies operating in enteral devices market include Alcor Scientific, Danone, Applied Medical Technology, Abbott, C.R. Bard, Fresenius, ConMed, Nestle, Asept InMed, Cardinal Health, Boston Scientific, B. Braun, Cook Medical, Avanos Medical, and Moog.