Market Analysis Of The Global Formal Senal Devices Market

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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. Weaknesses • 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. Opportunities • 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
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