The global enteral feeding devices market accounted for a value of USD 1,752 million in 2015. The market is estimated at USD 1,832 million in 2017, and projected to reach USD 2,285 million by 2021, growing at a compound annual growth (CAGR) of 4.53% during the forecast period (2016-2021). Due to the increasing use of enteral feeding in patients suffering from neurological disorders, the neurological disorders segment is expected to grow at a higher CAGR from 2017 to 2021. In the global enteral feeding devices market, oncology accounted for the largest market share.
Currently, enteral feeding pumps hold the largest share (54%) in the global market, followed by tubes and administration reservoirs. The giving sets and enteral syringes…show more content… • Countries with medical tourists opting for bariatric surgeries record the highest employment of enteral feeding devices.
• Europe is the largest market globally for enteral feeding devices in terms of value and it is expected to remain the same during from 2017 to 2021.
• Compatibility of Mini Feed-Me button with competitive existing sets.
• Aging product offering and a perception of lack of innovation from customers – link to price offering.
• Complications associated with enteral feeding tubes and little healthcare insurance coverage in developing countries are turning out to be restraints for the market.
• Not fully compliant with NPSA in the UK.
• Access to the market (via partners) – limited understanding of the drivers, price point include distributor mark up.
• Regions like the Asia-Pacific, Middle East and Africa and Latin America are relatively untapped markets for enteral feeding devices.
• Owing to the rapid increase in geriatric population in Asia-Pacific and Latin American region and continuous increase in the prevalence of chronic diseases in the African region, the demand for enteral feeding devices is increasing at an unprecedented pace.
• In addition, the high rate of pre-term births is also a key factor common to all these areas that create the need for enteral feeding devices.
• Low product penetration rates, rising disposable incomes and improving standards of living create tremendous amount potential for