Global Enteral Feeding Devices Market share worth $3.5bn by 2024: Fractovia.org
The industry outlook “Enteral Feeding Devices Market Size By Product (Giving Set, Enteral Feeding Pump, Percutaneous Endoscopic Gastrostomy Devices, Low Profile Gastrostomy Device, Nasogastric Tube, Gastrostomy Tube), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, China, India, Japan, Mexico, Brazil, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024� by Global Market Insights, Inc. says Enteral feeding devices industry estimated at USD 2.08 billion in 2015, is expected to hit a revenue of USD 3.5 billion by 2024. Enteral feeding devices market is anticipated to benefit significantly from the unmet medical needs arising in developing economies such as China and India due to vast population base. According to world health organization, the geriatric population above 65 years of age is anticipated to rise from approximately 524 million in 2010 to about 1.5 billion by 2050, with a high record in these developing countries.
Availability of advanced diagnostic tests, rising health consciousness among patients, and cost effective treatments have assisted in the early disease diagnosis, thereby resulting in tremendous expansion of enteral feeding devices market. Low profile gastrostomy device, enteral feeding pump, giving set, percutaneous endoscopic gastronomy devices, nasogastric tube, and gastrostomy tube are the key enteral feeding products. Enteral feeding pumps sector, which accounted for 62% of enteral feeding devices market share in 2015, is projected to witness a considerable growth over the period of 2016-2024. Heavy product demand due to rise in the rate of premature births is expected to boost the revenue. Regional analysis of enteral feeding devices industry is stated below: APAC enteral feeding devices market is projected to record an annual growth of 6.8% over 2016-2024, providing huge set of profitable growth opportunities. The high presence of the aging patient populace is expected to drive the regional growth. India, Japan, and China are likely to be the key revenue generators for the region.
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