SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global enteral feeding devices market was valued at US$ 2,279.7 million in 2017, and is projected to exhibit a CAGR of 6.4% during the forecast period (2018–2026).
Key Trends and Analysis of the Enteral Feeding Devices Market:
Leading manufacturers in the global enteral feeding devices market are focused on developing innovative products. For instance, Vygon S.A. introduced easymoov6, an intuitive enteral feeding pump, in 2017. The pump is connected via a tube to a nutrient bag and equipped with a digital interface to support the management of enteral feeding in both hospital and homecare. Similarly, Halyard Health introduced an improved placement kit for its percutaneous endoscopic gastrostomy (PEG) tube, the MIC PEG tube, in 2015. These factors are supporting global enteral feeding devices market growth.
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Key players are focused on adopting various business strategies such as mergers and acquisitions in the global enteral feeding devices market in order to increase its business hold, which has also supported the growth of the market. For instance, Halyard Health, Inc. acquired Corpak MedSystems in 2016. Medtronic plc acquired Covidien in 2015. Moreover, increasing number of product launches as well as its approvals from regulatory agencies boosts the global enteral feeding devices market growth. For instance, Covidien plc received the U.S. Food & Drug Administration (FDA) clearance for the Kangaroo feeding tube with IRIS technology, in 2014. Trovita Health Science received the U.S. Food and Drug Administration marketing authorization of the new SAFE-T FEED device for administering tube feeding formulas in 2017. Medela LLC received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market ENFit Low Dose Tip enteral syringes, in 2017. These factors are further expected to support global enteral feeding devices market growth over the forecast period.
Enteral feeding devices market is a technology driven industry, therefore manufacturers have to keep on improving technology of their medical devices in order to enhance medical care. Large organizations (such as Medtronic plc) have vast businesses in variety of medical fields which diffuses their attention more towards areas with high potential and return on investment (ROI). As such, small to medium scale manufacturers can exploit such opportunities and can focus on technology innovation in select areas (in this case enteral feeding devices) in order to have a strong foothold in the market. However, large organizations can still dominate with little to no technology advancement on the basis of more resources, capacities, and other advantages.
Government as well as individual organizations are indulged in spreading awareness about benefits of enteral feeding. The Feeding Tube Awareness Foundation celebrated its annual Feeding Tube Awareness Week from February 4 to 8, 2019. The mission of Awareness Week is to promote the positive benefits of feeding tubes as a lifesaving medical intervention.
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https://www.coherentmarketinsights.com/market-insight/enteral-feeding-devices-market-392
Key Market Takeaways:
- The global enteral feeding devices market is expected to exhibits a CAGR of 6.4% over the forecast period. This is owing to launch of enteral feeding devices and rapid adoption of business strategies by key players
- Manufacturers are focused on providing technologically advanced products that are affordable in emerging regions such as Asia Pacific and Latin America
- North America is expected to hold dominant position in the global enteral feeding devices market over the forecast period, owing to increasing product launches, potential customer base, and adoption of mergers and acquisitions strategy by key players
- Major players operating in the global enteral feeding devices market include Halyard Health, Inc., Fresenius SE & Co. KGaA, Abbott Laboratories, B. Braun Melsungen AG, Medtronic Plc, Cook Medical, C. R. Bard, Inc., Nestle Health Science, Moog, Inc., and ConMed Corporation
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
