May 29, 2024
Global Feeding Tubes Market

Global Feeding Tubes Market Driven By Rising Geriatric Population Is Poised To Exhibit Progressive Growth Over The Forecast Period

Feeding tubes are medical devices that enable delivery of liquid nutrition, hydration, or medications directly to the gastrointestinal tract when oral intake is not feasible or enough to meet nutritional needs. Feeding tubes are often required for preterm infants, critically ill patients, and those undergoing certain types of surgery which require a period of restricted oral intake. The global population is aging rapidly and the number of people aged 60 years and above is expected to reach nearly 2.1 billion by 2050. As aging is associated with increase in prevalence of chronic illnesses like cancer, neurological conditions, and gastrointestinal disorders often requiring tube feeding for nutritional support, the geriatric population base offers huge opportunities for growth of the feeding tubes market.

The global Feeding Tubes Market was valued at US$ 6.34 billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.

Market Key Trends

One of the key trends witnessed in the global feeding tubes market involves use of lower profile and low friction feeding tubes. Recent advancements have led to development of feeding tubes with low profiles facilitating easier placement. Feeding tubes equipped with internal bumpers and bolsters help prevent undesirable dislodgement. Moreover, enteral feeding tubes are now available coated with hydrophilic polymers that become slippery when hydrated, facilitating easier insertion while minimizing friction and potential for injury to delicate gastric or intestinal tissue during placement process. Such innovative product features are enhancing customer confidence and convenience of use, thereby driving increased adoption.

Porter’s Analysis

Threat of New Entrants: Low, This is an established market which requires high capital to enter due to regulatory norms and compliances.

Bargaining Power of Buyers: Moderate, presence of several key players provides options to buyers but specialized nature increases switching costs.

Bargaining Power of Suppliers: Low, suppliers have negligible bargaining power due to fragmented nature and availability of substitutes.

Threat of New Substitutes: Low, though technology is advancing, alternatives have limitations in treating certain conditions.

Competitive Rivalry: Medium to high, major players compete on Innovation, quality, and service. Regional players challenge through customized and low-cost offerings.

Key Takeaways

The Global Feeding Tubes Market Size is expected to witness high growth. Factors such as rising geriatric population, increasing prevalence of chronic diseases and nutritional deficiencies are driving the market growth. The global Feeding Tubes Market was valued at US$ 6.34 billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.

Regional Analysis – North America dominates the market currently owing to well-established healthcare systems and supportive reimbursement policies. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by increasing healthcare expenditures, growing medical tourism and rising patient pool.

Key Players operating in the Feeding Tubes market are Boston Scientific Corporation, Fresenius Kabi, B. Braun Holding, C. R. Bard, Abbott, and Cardinal Health. Major players are focusing on new product launches and are investing in R&D to develop innovative and customized feeding solutions to consolidate their market position. For instance, Boston Scientific Corporation offers wide range of enteral feeding tubes like MIC-KEY, Mini One, CORFLO, and TWIST.

Objectives of the Report:

1) Investigate and forecast the value and volume of the Global Feeding Tubes Market.

2) Estimate market shares for major UAE Dark Kitchens And Ghost Kitchens segments.

3) To demonstrate how the market for UAE Dark Kitchens And Ghost Kitchens is evolving in various parts of the world.

4) Research and analyze micro markets in terms of their contributions to the Global Feeding Tubes Market, as well as their prospects and individual growth patterns.

5) To provide precise and useful information on the factors influencing the rise of UAE Dark Kitchens And Ghost Kitchens.

6) To provide an in-depth analysis of key business strategies used by major companies in the Global Feeding Tubes Market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.

FAQ’s

Q.1 What are the main factors influencing the Global Feeding Tubes Market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Feeding Tubes Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Feeding Tubes Market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it