The factors that are responsible for the growth of the market include increasing population of geriatrics, higher immature births, growing adoption of enteral nutrition, and higher prevalence of chronic diseases.
Difficulties in nutrition and digestion are very common in old age. As an alternative to conventional nutrition, enteral feeding is administered to elderly patients who have difficulty in swallowing, digestion, and assimilation. The global population is aging at a faster pace due to reduced birth rates and increasing life expectancy.
According to a 2017 report by the United Nations, the global population is aging, especially at a faster rate in more developed regions. For instance, as per the report, Japan has 33.4% of the population aged 60 years or above, which is expected to 42.4% by 2050. The elderly have difficulty in consuming food and medications, and enteral feeding helps with this issues. Hence, the growth of the geriatric population worldwide is expected to strongly influence the growth of the global enteral feeding devices market.
Key Market Trends
Application in Diabetes is Expected to Register a High CAGR in the Forecast Period
For patients with diabetes, the enteral feeding regimen is recommended by the dietitian to meet the individual’s nutritional requirements. Special high-protein diabetes-specific formulas are administered through these tubes, which reduce the insulin need for the patients. This leads to improved glycemic control, which is important for the longevity of the patient.
Moreover, the incidence of diabetes has increased over the years globally and is ex[ected to increase further. As per a 2019 report by the Internation Diabetes Federation, the global incidence of diabetes is expected to increase from 463 million in 2019 to 578 million by 2030. This is expected to increase the demand for enteral feeding devices as well, which will boost the market growth.
North America is Expected to Dominate the Market
The United States (US) and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the US and Canada. As a result, these countries enjoy the presence of many global market players. Additionally, Mexico is a developing nation with the benefit of being neighbor to the US. This allows many companies to penetrate in Mexico as well. This helps the growth in the region.
The enteral feeding devices market is highly competitive. In terms of market share, several companies, such as B. Braun Melsungen AG, Boston Scientific Corporation, C. R. Bard Inc., Conmed Corporation, and Medtronic, hold the largest market share.
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