Value Chain Analysis on Enteral Feeding Devices Market: Key Players: Cardinal Health, Fresenius Kabi, Baxter International Inc.

Sellbyville, DE -- (SBWire) -- 01/10/2019 --Global Enteral Feeding Devices Market was valued at USD 2.3 billion in 2017 and is expected to witness 6.1% CAGR from 2018 to 2024.

Enteral feeding devices market should witness growth in forthcoming years due to rising prevalence of chronic infections and diseases especially in Europe and also in developing countries such as India. Chronic diseases such as cancer and diabetes are one of the leading causes of mortality in Europe, more than 60% of the people in age group of 60 and above have at least one chronic condition. For instance, as reported by WHO, around 60 million people in the European region are suffering from diabetes that will positively impact on enteral feeding devices industry growth.

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The introduction of technologically enhanced devices such as J-tube, G- tube, and reserve balloon design is predicted to propel the industry trends. The growing awareness among patients regarding the harmful effects of chronic diseases as well as the reduced treatment cost will boost enteral feeding devices market share over the coming years of 2016 to 2024.

Taking into account the product trends, enteral feeding devices industry is mainly segmented into enteral feeding pump, gastrostomy tube, giving set, percutaneous endoscopic gastrostomy device, nasogastric tube, and low-profile gastrostomy device. Enteral feeding pump dominated the product segment by collecting a revenue of more than USD 1.2 billion in 2015. Percutaneous endoscopic gastrostomy devices and nasogastric tube devices will also contribute significantly toward the market share. The key attributing factor towards enteral feeding devices industry growth is prevalence of an ever-growing elderly population across the globe. Moreover, these devices are also extensively used for pre-term births, which has been noticeably frequent over the last few years. This, in turn, will drive enteral feeding devices market size over the coming seven years.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Baxter International Inc.
2. CONMED Corporation
3. Danone
4. Boston Scientific
5. Fresenius Kabi
6. Cardinal Health
7. Cook Medical
8. Abbott Nutrition Health Institute (ANHI)
9. Halyard Health
10. Amsino International Inc.
11. BKK B. Braun Melsungen AG

Hospitals segment was valued at USD 1.5 billion in 2017 and is expected to grow over the estimated timeframe as a result of growing patient population suffering from chronic conditions such as cancer along with increasing number of baby boomers. Elderly people generally suffer from digestive and ingestion problem hence essential nutrients are supplied through enteral route in such cases, influencing the segmental growth positively over the forecast timeframe.

U.S. enteral feeding devices market should grow at 5.8% over the forecast timeframe and the high growth can be attributed to increase in per capita income of the country. In addition to the aforementioned factors, growing aging population, increasing prevalence of diseases such as cancer, cardiovascular, diabetes, dementia should foster business growth. Augmented number of premature births in the U.S. will fuel enteral feeding devices industry growth.

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Top-notch players operating in enteral feeding devices market are working on the cost differentiation factor to attract more customers and expand the regional presence. New product development, strategic alliances, and technological innovations are the prominent growth strategies adopted by major companies to sustain the market. Notable industry participants include Danone, Nestlé, Abbott Nutrition, Fresenius, Conmed Corporation, Moog Inc., Boston Scientific Corporation, Kimberly-Clark Corporation, Amsino International Inc., Covidien Plc, and Cook Medical.

Enteral Feeding Devices Market, By Product (USD million)
o Giving set
o Enteral feeding pump
o Percutaneous endoscopic gastrostomy device
o Low Profile gastrostomy device
o Nasogastric tube
o Gastrostomy tube

Enteral Feeding Devices Market, By End-use (USD million)
o Hospitals
o Homecare